Planned Giving
More than ever before the Sunshine Division needs
the support of individuals to continue to provide
for the community. Cuts in state and federal funding
have increased the role of not for profit organizations
in helping those in need. It is more important than
ever that funding comes from you, the individual donor.
Many charities have created endowment funds in response
to this trend. The flexibility of an endowment permits
the charity to maintain financial security while focusing
on its mission.
A growing number of institutions include life insurance
policies as a part of their overall endowment development
programs. Life insurance is a valuable giving tool
that allows persons that could not normally afford
it to make a substantial contribution.
The Life Insurance
Endowment Option
The Life Insurance Endowment Option can be
a vital component in any endowment development plan
and It’s easy to establish. Your favorite charity
is simply named a beneficiary of your life insurance
policy. Through this technique, both you and your
charity can reap important rewards.
Benefits for You:
- A major gift can be made for a few dollars a year.
- Good people of modest means can make a sizable
donation.
- When the charity is the policy owner and the
beneficiary of the policy; the entire gift may
be tax deductible.*
- Your gift is self-executing and proceeds are
paid promptly.
*Check with your financial advisor about state laws
to determine if and how you can best establish the
gift to receive a tax deduction.
Benefits for the Charity Institution:
- Assured source of future income.
- Amount of gift is certain.
- Possible to access cash surrender values.
- Total control of program if charity owns the policy.
The Asset Replacement Option
With the asset replacement option, you would make
a tax-deductible gift to charity (cash, stocks,
bond, real estate, or other assets). You would purchase
a life insurance policy naming your heirs as beneficiaries
to replace the property gifted. The money saved
from the tax deduction could help fund the policy
premium.
Benefits for You:
Benefits for the Charity Institution:
- Amount of the gift is certain.
- If the gift is placed in a trust, the charity
can control the asset during your lifetime by serving
as trustee.
- Assured source of income.
Your Estate Planning Team
Can Help You Make the Most of Your Gifts
Charitable gifts can be as simple as giving cash
to a charity, or as complex as using a trust.
Whatever your goal, life insurance can be a valuable
tool to fund your gift. Make sure you consult
your life insurance agent and financial advisors
before making such a gift. A modest gift today
can provide an endowment that will help a good
cause far into the future.
If Interested, contact Brian
Hoyt , or leave a message at 503-823-2119.
|
|
