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Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
It only takes three, simple steps to make this type of gift. Here's how to name The Jackson Laboratory as a beneficiary:
Robert and Carol treasure the financial help they've been able to give their children and JAX over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left JAX a $75,000 IRA to be transferred following their lifetime. Because JAX is tax-exempt, all $75,000 will help support advances that improve human health.
If Robert and Carol had left the IRA to their children, approximately $21,000* would have gone to pay federal income taxes-leaving only $54,000 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 28 percent marginal income tax bracket.
Legal Name: The Jackson Laboratory
Address: 600 Main Street, Bar Harbor, ME 04609
Federal Tax ID Number: 01-0211513