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Usually easy to give and easy to receive. These are assets already in the possession of the donor and gifting them do not affect cashflow during lifetime.
These gifting vehicles return a steady stream of income to the donor and other beneficiaries.
These gifts help maintain the benefits of owning an asset while making a gift.
Trusts assure that financial, familial and estate matters remain private. Trusts do not go through a probate process and are not subject to any kind of public review.
Home » Simple Gifts » Life Insurance: Paid-Up Policy » Life Insurance: Paid-Up Policy: Questions Donors Ask
Donors can contact their life insurance company and request a “Change of Beneficiary/Ownership” form to designate your organization as the new owner and beneficiary of their policy.
If donors give their policy to your organization while they are still alive, they will receive an immediate income-tax deduction limited to the policy’s fair market value or cost basis, whichever is less. If they pay any future premiums to keep the policy active, these payments are also tax deductible.
