Beneficiary Designations

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Financial accounts

Individuals who have financial accounts at banks, savings & loan associations and credit unions – such as savings, checking, share accounts, certificates of deposit – generally may designate that their deposits be paid to The Mother Church at their passing.

Life insurance

Circumstances may indicate that the initial purposes for establishing a life insurance policy may have changed over the years. For example, it may be that there is no longer a necessity for retaining a $50,000 policy purchased many years ago.

Retirement accounts

A combination of state and U.S. federal income taxes and estate taxes can diminish the retirement savings accounts of many individuals after their passing.