Designate your retirement plan or life insurance. Beneficiary designations are an easy and affordable way to support the work of our hospital or child health programs at a future date. These designations can save your estate from onerous taxes.
Retirement Plan Gifts
Did you know that the IRS considers the balance left in your retirement plan to be untaxed income? Therefore, any beneficiary (other than a spouse) could face income taxes in addition to estate taxes on your retirement account balance. You may lose up to 70 percent to taxes before your child, relative, or heir receives your intended gift! If you name the Lucile Packard Foundation for Children’s Health as the beneficiary of your retirement plan, 100 percent of your retirement assets can help support children’s health.
Life Insurance Gifts
You may make the Foundation the beneficiary of your life insurance policy. By gifting us your paid-up policy that you may no longer need, your estate will receive a charitable deduction from estate taxes for that gift.
Frequently Asked Questions
How does a Beneficiary Designation work?
- On your retirement plan or life insurance beneficiary form, you will indicate how much of the remaining fund should be designated to the Foundation.
- Return the form to your plan administrator.
Do I need to include any specific information on the form?
Yes. The beneficiary form requires the following information, address, and tax ID number:
Lucile Packard Foundation for Children’s Health*
400 Hamilton Avenue, Suite 340
Palo Alto, CA 94301
Federal Tax ID Number: 77-0440090
Can I join the Lucile Salter Packard Society if I have included the Foundation as a beneficiary to my retirement plan?
Yes, if you have named the Foundation as a beneficiary to your retirement plan, then we welcome you to join our legacy society.
* The Lucile Packard Foundation for Children's Health, an independent 501(c)(3) not-for-profit corporation, fundraises for Lucile Packard Children's Hospital Stanford and the child health programs at Stanford University School of Medicine.
The Lucile Packard Foundation for Children’s Health is a tax-exempt organization and does not provide tax, legal, or financial advice. Any document or information provided to you by our staff is intended to be educational and informational. The Lucile Packard Foundation for Children’s Health strongly encourages all of our donors to seek counsel from their own legal and financial advisors. Please know that any information or documents shared by the development staff cannot be used to avoid tax-related penalties.