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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.

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The MultiCare Foundations is proud to provide free and confidential estate planning services through Thompson & Associates for friends like you.

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Not sure how to begin planning?

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Ready for next steps?

  1. Contact our gift planning team at 253-403-3093 or plannedgiving@multicare.org for more information about PODs/TODs or how to support better care in your community.
  2. Seek the advice of your financial or legal advisor. (Need an advisor? Look here for advisors familiar with MultiCare foundations and services.)
  3. If you include a MultiCare program or foundation in your plans, please use our legal name and federal tax ID number.
  4. 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.

A charitable bequest is one or two sentences in your will or living trust that leave to MultiCare a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to MultiCare, a nonprofit corporation currently located at 315 Martin Luther King Jr. Way, Tacoma, WA 98405, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to a MultiCare program or foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to a MultiCare program or foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to a MultiCare program or foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and a MultiCare program or foundation where you agree to make a gift to a MultiCare program or foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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