Touching Lives: Estate Planning and your Community Theatre |
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Legacy Giving:
Support the Theatre with an Affordable Gift
Support the Theatre with a gift that pays you income
Support the Theatre with a gift that allows you to keep control of your assets |
| Making a Touching Gift Using Life Insurance |
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Many people have life insurance policies that are no longer needed or that do not have the same urgency as when they were purchased. If you are thinking about a gift to the San Juan Community Theatre, using life insurance could be a sensible and generous course of action.
It is also possible to use a life insurance policy to replace the value of an outright donation. For example, you could donate stock to the Theatre and benefit by avoiding capital gains taxes. You may then purchase life insurance to benefit your heirs in the amount they would have received had you left them the stock. |
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Setting up a life insurance plan: |
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If you have an already existing life insurance policy, you may contact the insurance company to name San Juan Community Theatre ultimate beneficiary. If you would like a current income tax deduction, you may also transfer ownership of existing policies to the Theatre.
If you would like to establish a new life insurance policy naming San Juan Community Theatre as an irrevocable owner and beneficiary, please contact your preferred insurance company. The most efficient way to make premium payments is to make a contribution equal to the premium payment directly to the Theatre requesting we pay the premium. The IRS will allow this as a current charitable income tax deduction. |
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The benefits of a life insurance plan are as follows: |
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- A charitable deduction when you name the Theatre as beneficiary and as owner;
- Flexibility by naming us as a beneficiary but keeping ownership;
- Security for you family by naming the Theatre as a contingent beneficiary; and
- Reduction in estate taxes because proceeds are removed from your estate.
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