Why beneficiary designations are so powerful
Assets not included in your will are called non-probate assets. Examples are 401(k)s, IRAs, life insurance policies, and other accounts. Designating the Andrew Wommack Ministries as a beneficiary can have a big impact and may avoid unwanted taxes for your heirs.
Common gifted assets for beneficiaries
- Life insurance
- Joint real estate
- Joint bank accounts
- Joint property ownership
Designate Andrew Wommack Ministries as a beneficiary to one or more of your accounts.
We have partnered with FreeWill to offer this free online platform that will walk you through the process of setting up your beneficiaries. These gifts have a big impact and can often prevent unwanted taxation.
Your gift furthers the Gospel of Jesus
Andrew Wommack Ministries has been called to teach the truth of the gospel to the body of Christ with special emphasis on His unconditional love and grace. Your gift helps to fulfill that call through conferences, television, podcasts, by training disciples at Charis Bible College, and by developing ministry materials to help others in their relationship with the Lord.
Frequently Asked Questions
Yes. You are always free to revise or update your estate plans.
No. You can usually make these easily and at no cost to you.
Yes! Gifts of any size are deeply appreciated. Many people choose to leave a percentage of their estate, which scales up or down with your estate size.
Yes! Even if you have a will in place you still need to designate beneficiaries for your non-probate assets.
The most commonly gifted non-probate asset is an IRA or 401(k). This is because these accounts are always taxed (even for people below the estate tax threshold). Giving these accounts to charity keeps your heirs from having to pay unexpected taxes.
A non-probate asset is an account or other asset that won’t be governed by the decisions you make in a will. Instead, these accounts commonly have an assigned beneficiary that you choose. Types of non-probate assets include many retirement accounts, life insurance, some bank accounts and some assets (like a house or vehicle) that you jointly own with another person.
More ways to make an impact
Gifts in a will or trust
Donations in your will or trust are (by far) the most popular type of planned gift. Learn more, or get help starting your will (for free!).
Gifts that pay you back
Give assets while providing yourself or others with income for a period of time or distributions at a later date.