Creating a Lasting Legacy

Adding a Beneficiary Designation is Quick and Easy

Naming Life Lab as the beneficiary of your retirement plan or life insurance policy is a quick and easy strategy, entirely separate from your Will, that requires no lawyers or fees. All it takes is completing a change of beneficiary form. Learn more below.

How it Works

1. You request a "change of beneficiary" form from your plan administrator.

2. You complete the form naming Life Lab as a full or partial beneficiary.

3. You submit the form to the plan administrator and notify Life Lab of the gift intention.

Benefits

• Simplicity - these estate planning strategies require little paperwork.

• You decide who is to benefit and you may change your mind at any time.

• Should you die without a Will, these tools will keep designated assets out of probate.

• You enjoy the satisfaction of supporting what matters most to you.

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Another Way to Designate a Beneficiary of your Bank and Investment Accounts

You may also transfer assets directly to Life Lab and heirs without going through probate by naming Life Lab as a beneficiary via a Payable-On-Death (POD) form with your bank or, if assets are held in an investment account, by creating a Transferable on Death (TOD) deed with your brokerage firm

3 Good Reasons to Make a Will

1. It’s a tremendously important legal document
   Creating a will allows you to choose a legal guardian for your children, to plan for their financial security, and even to assign someone to care for your pets when you’re gone. A will allows you to decide how to distribute your assets, supporting what matters most to you for generations to come.

2. It gives you and your family peace of mind
   Everyone needs a plan, no matter your age or net worth. Without a legal will the courts may decide how to distribute your assets. Sharing your plans with family members gives them peace of mind today and helps avoid conflicts in the future.

3. It enables you to create a lasting legacy
   Designating Life Lab as a beneficiary in your estate plan is a legacy gift that ensures this special place will thrive in perpetuity. Joining our Legacy Circle won’t cost a thing today, but is invaluable to the future Life Lab. There are many ways to create a lasting legacy. You decide whether to designate a lum sum, percentage of your estate, or a specific asset.

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How To Add Life Lab To Your Bequest

Including Life Lab as a beneficiary in your Will or Living Trust is a simple and thoughtful way to create a lasting legacy.

1. You include a bequest provision in your Will or Trust designating a particular asset or a percentage to Life Lab #94-2778848. [see sample bequest language below]

2. You inform Life Lab of your commitment so we may thank you and ensure that your wishes are clear and can be fulfilled (especially important if your bequest is restricted and/or includes real estate or other specialized assets.)

Benefits:

• You may change your bequest or trust designation any time.

• Your bequest or trust designation will not be subject to any potential federal estate tax.

• If your bequest includes real estate, you control the property during your lifetime.

• You create a lasting legacy that supports Life Lab in the future.

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Simple Bequest Language

Here is sample language to include a bequest to Life Lab while creating your Will or Trust, or by adding a simple codicil to an existing document:

I/We hereby give (% of my residuary estate, $ dollars, and/or specific asset) to Life Lab (EIN #94-2778848), a nonprofit education organization located at 1156 High St, Santa Cruz, CA 95064, for its unrestricted purposes.

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Questions?

If you would like more information about including Life Lab in your estate plans or to discuss legacy giving options, please contact Vivian Rogers at vivian@lifelab.org.

Frequently Asked Questions About Estate Planning