Beneficiary Designations

Certain types of property pass outside of a Will or Trust.  All these assets require is that you name a beneficiary by completing a beneficiary designation form, something well within the reach of many people and families. You can support Oconomowoc Memorial Hospital by naming the Foundation as a beneficiary on any of the following:

• Life insurance policy
• Deferred annuity
• IRA
• Qualified retirement plan (401-k or 403-b plan)
• Bank Account (called Payable on Death account)
• Investment Account (called Transfer on Death account)

Arrange a gift at any percentage

You may designate any amount you choose, from 1% to 100%. You may wish to leave the full death benefit for the Foundation. If family protection is still important for you, you may want to leave a smaller percentage (5% -10%) as your gift. Either way, you are making an important contribution to the work of Oconomowoc Memorial Hospital.

Simple to arrange

These gifts are very easy to arrange. Simply obtain a beneficiary designation form from your insurance company, bank or your agent. If you are using a group life insurance policy, ask for this form at your benefits office. After you have completed your Beneficiary Designation Form, return it to the company.

These gifts bypass probate

Gifts by beneficiary designation also avoid probate. Your gift will pass immediately to the Foundation after your death, usually within a few weeks.

Once you make your arrangements, please let us know. If possible, please send us a copy of your new beneficiary designation form, so we can thank you properly and include you in the Cornerstone Legacy Society.