Flexibility—Most beneficiary designation forms are very flexible. You can name The Salvation Army Western Territory as a "full" or "partial" beneficiary of your account or life insurance policy. You can also name The Salvation Army Western Territory as a "primary" or "contingent" beneficiary.

Family Considerations—Beneficiary designation gifts allow you to provide for family and support the causes that matter most to you. With a designation form you could, for example, name your spouse as the "primary" beneficiary and each of your children and The Salvation Army Western Territory as "partial contingent" beneficiaries. With this arrangement, if your spouse survives you, he or she would receive the account. If not, the account or policy would be paid out to your children and The Salvation Army Western Territory in whatever shares (or percentages) that you chose on the designation form.

Terminology—Beneficiary designation gifts are simple and straightforward. Common terminology includes "beneficiary designation" but also includes "payable on death" or "transfer on death." The term "beneficiary designation" is most commonly used when naming beneficiaries of retirement plans or life insurance policies. The term payable on death (or "POD") typically involves the designation of a beneficiary of a checking account, savings account or certificates of deposit, and transfer on death (or "TOD") often involves the designation of a beneficiary of stocks, bonds or mutual funds.

Additional Materials
To download a brochure and learn more about Beneficiary Designation gifts, click here.
To download a brochure and learn more about TOD gifts, click here.
To download a brochure and learn more about POD gifts, click here.

Beneficiary Designations and Real Estate—Some states even allow "beneficiary designation deeds" or "transfer on death deeds," which would allow you to name The Salvation Army Western Territory as the survivor beneficiary of your home, farm or other real estate. As with other beneficiary designation gifts, these gifts are revocable by filing a revocation or new beneficiary designation deed.