Naming Public Justice on a retirement or other account, or on a life insurance policy, is a simple way to provide for Public Justice’s future without writing or re-writing your will or living trust. These assets will pass directly to Public Justice without going through the probate process. Please ask your retirement plan administrator or institution for the appropriate form.
The following are some common assets for which beneficiary designations may be made:
Many donors name Public Justice as a beneficiary of all or a specified percentage of their IRA, 401(k), 403(b), or other retirement plan.
Because retirement assets are subject to both income and estate tax, they are often considered among the best assets to leave to charity. Individuals who inherit retirement plan assets must in most cases pay income tax on them.
As a charity, the Public Justice Foundation would not pay taxes on these assets and would have full use of them.
There may be tax and financial planning implications in naming beneficiaries of a retirement plan, so you should consult with your attorney or tax advisor in arranging for the disposition of these assets.
Bank and Investment Accounts and Commercial Annuities
You may leave a legacy for Public Justice by naming us as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account or a commercial annuity, where permitted by state law and the financial institution.
Life Insurance Policies
If you have a life insurance policy that is no longer needed for your family, designating Public Justice as a beneficiary offers a simple way to support our work.
How to Name Public Justice
Ask your retirement plan administrator or institution for a change of beneficiary or other appropriate form. Please identify Public Justice on the form as follows:
Legal Name: Public Justice Foundation Address: 1620 L Street NW, Suite 630
Washington, DC 20036 Tax ID #: 59-1730478
We hope that you will let us know when you have made a beneficiary designation for Public Justice so that we may thank you and include you in the Public Justice Society.
Benefits of a Beneficiary Designation
Easily accomplished through completion of beneficiary form
Income tax savings when retirement plan assets are used
Possible estate tax deduction
Support for Public Justice’s work far into the future
To learn more or to notify Public Justice of your bequest, please contact Kelly Simon, Development Director at (202) 861-5253 or firstname.lastname@example.org.