Bank Accounts
Foundation
Bank Accounts
After your passing, a percentage of what remains in yourchecking or savings account can be transferred to the Optica Foundation.
How It Works
- Contact your bank to complete or update your POD (Pay on Death) form for your checking, savings accounts and jointly-held accounts. For joint accounts, ensure all account holders are informed.
- Connect with your financial and/or legal advisor(s).
- Designate the Optica Foundation to receive your preferred percentage of the remaining account balance after your passing.
- Inform us of your intended designation by contacting Foundation@optica.org or Kristen Wesley. Deputy Senior Director, Development, at +1.202.416.1441.
Benefits
- You maintain control and use of the account balance during your lifetime.
- Your assets bypass probate court, simplifying the estate process for your heirs.
- You can modify your gift to address changing circumstances.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
- Receive a charitable deduction, which will reduce any estate or inheritance taxes.
- The Optica Foundation receives the balance of the accounts to use according to your wishes.
- A POD is simpler to create and maintain than a trust or will.
