Beneficiary Designations
Make a Gift to Albion in 3 Easy Steps
Providing students with an exceptional liberal arts education after your lifetime is easy. Simply name Albion College as a beneficiary to receive assets such as the following:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
Beneficiary designations are flexible: You can revise them or change your mind at any time. Plus, it only takes three simple steps to make a lasting impact at Albion College. Here's how to name Albion College as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank, or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name Albion College, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank, or financial institution.
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and Albion College over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Albion College a $75,000 IRA to be transferred following their lifetime. Because Albion College is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 24 percent marginal income tax bracket.