I'm a low income senior and I would like to leave my church a small amount of money to be received upon my death. I hope to deposit monthly a small amount of money for this purpose,
separate and apart from anything else, to be designated for the church. What suggestions do you have?
Ask your bank if it can accept an account designating the church as a "payable on death" beneficiary. State laws vary as to who can qualify as a beneficiary for such accounts. If you are able to open the account, be sure that the pastor or other trusted individual knows of your plans, because the bank may not be proactive and notify the church about the account on your passing.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.