Gift of Bank or Brokerage Accounts
Simple and Straightforward Ways to Support Better Care
Designating the MultiCare program or foundation you care about as beneficiary of your bank accounts, certificates of deposit or brokerage or investment accounts is a simple and straightforward way to support our work. There are two ways you can make this gift:
Payable on death (POD).* By placing a POD designation on your bank account or certificate of deposit, you can name one or more persons or non-profit organizations you care about, like MultiCare, as the beneficiary of all funds once you, the account owner, pass away. Simply ask your bank representative about the one or two easy steps you need to take in order to place a POD designation on your account.
Transfer on death (TOD).* By placing a TOD designation on your brokerage or investment account, that account will be paid to one or more persons or non-profit organizations you care about, like MultiCare, after your lifetime. To set up the TOD endorsement, simply contact your investment advisor and provide instructions regarding the change.
A POD/TOD keeps you in control:
- It is not necessary for the POD or TOD designation to transfer all of the account solely to non-profits — you can designate a certain percentage of the account.
- Named beneficiaries have no rights to the funds until after your lifetime.
- You remain in control of the account and are free to use the money as you choose.
- You can easily change the beneficiaries.
- You may close the accounts at any time without notifying the beneficiaries.
Also, by setting up your accounts in this way, the estate planning and administration process is simplified. The executor or administrator of your estate will not have to take any action to ensure that your account transfers to whomever you designated.
*State laws govern payable on death accounts and transfer on death accounts. Please consult with your bank representative or investment advisor if you are considering these gifts.
Get free planning help
The MultiCare Foundations is proud to provide free and confidential estate planning services through Thompson & Associates for friends like you.
Not sure how to begin planning?Download a free personal estate planning kit
Ready for next steps?
- Contact our gift planning team at 253-403-3093 or email@example.com for more information about PODs/TODs or how to support better care in your community.
- Seek the advice of your financial or legal advisor. (Need an advisor? Look here for advisors familiar with MultiCare foundations and services.)
- If you include a MultiCare program or foundation in your plans, please use our legal name and federal tax ID number.
- If you have already named a MultiCare program or foundation in your plans, please let us know so that we can carry out your wishes as intended and thank you for your gift.