Skip to main content

Beneficiary Designations

Why might a beneficiary designation gift suit you?
  • It costs you nothing during your lifetime. This can be useful if you don’t have the ability to make a cash gift during your lifetime or if your net worth is tied up in assets.
  • It’s revocable, so you can update your will if circumstances change.
  • It’s easy to do and involves updating a beneficiary designation form from your financial institution or insurance company, usually accessible through your online account.
  • It does not involve the creation of a will or codicil to amend your will.
  • It avoids probate: assets with designated beneficiaries bypass the probate process, allowing for quicker and more direct transfer to the non-profit.
  • Retirement accounts and other tax-deferred assets can be heavily taxed if left to individuals, but non-profits can receive these assets tax-free, reducing the tax burden on your estate or heirs.
Fund a beneficiary designation gift through any of the following:
  • IRAs, 401(k)s and other retirement plans
  • Life insurance policies
  • Donor Advised Funds
  • Bank Accounts (known as a Payable on Death or POD designations)
  • Investment Accounts (known as Transfer on Death or TOD designations)
Key factors to consider:
  • Your family and loved ones come first – we understand that! You can elect Wistar as a contingent or secondary beneficiary.
  • You can specify whether to gift Wistar:
    • a specific dollar amount, or
    • a percentage of the value of the plan/policy
  • By notifying us of your beneficiary designation, you can also share your wish to designate your gift as
    • unrestricted – giving Wistar’s the ability to use the gift where it is needed most, or
    • restricted – for a specific area of research or Wistar program that is most meaningful to you. Speak with the Development office about areas of need for perpetual funding.
  • We can also record whether you want your gift to be:
    • expendable – giving Wistar the ability to use the gift as needed, once it is realized, or
    • endowed – Wistar will invest the gift and spend a portion of the income it generates each year.
Take action today
  • Contact Brittany McCrimmon at 215.495.6856 or bmccrimmon@wistar.org to discuss the different options for including Wistar as a beneficiary.
  • Seek the advice of your financial or legal advisor.
  • If you include Wistar in your plans, please use our legal name and federal tax ID.
    • Legal name: The Wistar Institute of Anatomy and Biology
    • Address: 3601 Spruce Street, Philadelphia, PA 19104
    • Federal tax ID (EIN) number: 23-6434390

Already included Wistar in your estate plan?

Let us know.
Why let us know?

When you notify us of your Legacy Gift intention using this form, we are able to thank you up front, recognize your incredible provision during your lifetime, and keep you informed on Wistar’s work in a manner that is meaningful to you. It also enables us to document and honor your wishes.

While you can choose to make an irrevocable Legacy Gift to Wistar if you wish, signing this intention form does not make your Legacy Gift provision legally binding. It is a way of sharing your thoughtful intention with us and you can revoke or make changes to your plans at any time.

While we know that considering what people and what causes you wish to provide for after you have passed is a deeply private matter, we hope you will give us the opportunity to pay tribute to you for including Wistar in those plans. We are honored to recognize our Legacy donors in Wistar’s 1892 Society.