Bank or Brokerage Accounts

Simple and Straightforward Ways to Support Lehigh University

Designating Lehigh University as beneficiary of your bank accounts, certificates of deposit or brokerage accounts is a simple and straightforward way to support our work. There are two options you can use to make this gift to Lehigh University:

Payable on death (POD).* By placing a POD designation on your bank account or certificate of deposit, you can name one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, to change the beneficiary or to close the account.

By setting up your bank account or certificate of deposit in this way, the estate planning and administration process is simplified. The executor or administrator of your estate will not have to take any action to ensure that your account transfers to whomever you designated. Simply ask your bank representative about the one or two easy steps you need to take in order to place a POD designation on your bank account or certificate of deposit.

Transfer on death (TOD).* By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account. Like a POD account, with a TOD account the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.

A TOD designation also simplifies the estate planning and administration process. The executor or administrator of your estate will not have to take any action to ensure that your securities transfer to whomever you designated. To set up the TOD endorsement, simply contact your investment advisor and provide instructions regarding the change.

*State laws govern payable on death accounts and transfer on death accounts. Please consult with your bank representative or investment advisor if you are considering these gifts.

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Next Steps

  1. Contact the Office of Planned Giving at (610) 758-4749 or intower@lehigh.edu for additional information.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Lehigh University in your plans, please use our legal name and federal tax ID.

Legal name: Lehigh University
Address: 27 Memorial Drive West, Bethlehem, PA 18015-3086
Federal tax ID number: 24-0795445