What if you found out that you could give away considerably more to the charities of your choice without actually spending more money? It’s not a magic trick. All you have to do is make more efficient use of each dollar you donate, and for that, you need life insurance. Life insurance can boost the size of your charitable gifts without costing you an extra dime.
Create gifts that give forever. If you write annual checks to your favorite charities, not only with those gifts be on the smaller side, they’ll also end as soon as you pass away. But a properly designed life insurance strategy can dedicate those same dollars to a longer-term gift that continues to give even after you’re gone. For example, paying an annual premium of $30,000 could lead to an eventual gift of $2 million for the charity. The interest generated from that $2 million will create a gift that continues on forever.
Convert your Social Security payments into a multi-million-dollar gift. For some, Social Security is just icing on the cake — you don’t really need it to get by. Instead, you can take that benefit and donate it to a charity. When done correctly, these payments can be dedicated to life insurance premiums that create a massive gift, all while reducing the size of your estate and providing current tax deductions.
Give your estate away twice. Buying life insurance inside of a properly structured trust will allow you to eliminate most—or possibly all—of your estate tax exposure. We can show you how to give your estate to your heirs while creating an equally large gift for charity. Not only is it possible, current tax laws give you the opportunity to do it.
Create a private foundation. The creation and funding of a private foundation can accomplish several important estate planning goals, including removing assets from your estate, providing income tax deductions, and giving you complete control over the distribution of your assets. Owning life insurance inside your foundation can further leverage your assets and create larger gifts for the charities you support.
Don’t let your charitable gifting end when you die. Create a legacy that lasts forever. We’ve been teaching people how to do this for decades—and we can do the same for you. Call us at 800-DIE-RICH to get started today.