Why designate a beneficiary?

  • Avoid probate (a lengthy and sometimes costly process in which the courts distribute your assets) by ensuring that at your death, designated beneficiaries receive benefits immediately (without penalty).
  • Have the satisfaction of knowing your funds will be distributed to the individuals, ministries and/or organizations of your choice.
  • Maintain complete control over your investments.
  • Receive estate-tax deductions for bequests to qualified charitable organizations. When you designate a tax-exempt organization (like LCEF) as a beneficiary, every dollar is passed on to the ministry. Your gift furthers the Lord’s work, and the estate-tax deductions save your heirs money.

To designate or change existing beneficiaries, you must complete a Beneficiary Designation Form (PDF).

Please note that if you are married and the primary beneficiary is not your spouse, it is required that he or she acknowledge that he or she agrees to the named beneficiary by signing your Beneficiary Designation Form. By signing, your spouse also acknowledges that he or she has received a fair and reasonable disclosure of your property and financial obligations and they shall have no claim whatsoever against LCEF for payments to your named beneficiary.

Designating LCEF as a Beneficiary

You have the option of including LCEF on your list of designated beneficiaries. Your prayerful support allows LCEF to continue working for the expansion of God’s Kingdom by keeping the costs of loans and services for ministries and rostered church workers low.

If you have questions about designating a beneficiary, please call 800-843-5233 or contact us.

Frequently Asked Questions