Text Resize

Gift of a Bank Account When No Longer Needed (POD)

Gift of a Bank Account When No Longer Needed (POD)
Keith has been a faithful supporter of the American Brain Foundation and makes regular gifts to support our work. Recently, Keith talked to our staff and expressed his interest in naming the American Brain Foundation as a beneficiary of his estate, but he wanted to keep the process as simple and inexpensive as possible.

Keith: I love the philosophy of the American Brain Foundation, and their whole brain approach. It is an approach which really makes sense to me. I know so many people who are impacted by something: MS, ALS, LBD, Autism — it seems like many of my friends have stories of some brain condition in their family. I try to make annual gifts but I want to leave a meaningful gift to the American Brain Foundation in my estate plan.

One day, Keith talked to a friend who told Keith that she recently made a "payable on death" or "POD" gift to her favorite charity. Keith asked her to explain how the gift works. She told Keith that with a POD gift, he could contact his bank or credit union and request a POD beneficiary designation form. By filling out the form and sending it back to his credit union, Keith could direct the credit union to pay the balance of any account he designates to charity when he passes away.

Keith: I learned a lot of great information about POD gifts. I decided to name the American Brain Foundation as the payable on death beneficiary of two accounts at my bank. Not only was the process simple — it didn't cost a thing. I also liked that a POD gift gives me flexibility-I still own the accounts and can use the money in those accounts if my needs ever change.

Is a payable on death (POD) gift right for you?


If you would like to leave a gift to the American Brain Foundation that is simple, inexpensive and flexible if your needs change, please consider a payable on death bequest. If you have questions or would like to learn more about POD beneficiary gifts, please contact your banking institution or us. We would be happy to assist you and answer any questions that you have.

*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of a POD gift may differ depending on your personal circumstances, please consult with your legal, tax or financial advisor.


scriptsknown