Designate and Donate — Jointly Held Accounts

You can still designate and donate to our nonprofit, even if you have a loved one as a joint account owner.

How It Works

  • Contact your bank to complete or update your P.O.D. (Pay on Death) form for your checking and savings accounts.
  • Designate Silver Cross to receive the remaining account balance after the joint account owners have passed away.

Benefits

  • Receive a charitable deduction that will reduce any estate or inheritance taxes.
  • Silver Cross receives the balance of the accounts after the joint account owners have passed away.

Jointly Held Accounts

You may have made a loved one a joint owner of the account. The joint owner may make deposits and withdrawals during your lifetime. The joint owner may also have "rights of survivorship," meaning that he/she will automatically inherit the account when you pass away. Even if you have a joint account, you should complete the P.O.D. form to assure that the bank knows what to do with the remaining assets when both account holders have passed away. This step will also assure that the account may not become part of a time consuming and costly probate process.


Physicians on Silver Cross Hospital’s Medical Staff have expertise in their areas of practice to meet the needs of patients seeking their care. These physicians are independent practitioners on the Medical Staff and are not the agents or employees of Silver Cross Hospital. They treat patients based upon their independent medical judgment and they bill patients separately for their services.