Regardless of whether you already have a policy or are acquiring a new one, you can either assign ownership of the policy to FaithTrust Institute or simply designate FaithTrust Institute as the beneficiary.
- Allows you to make a sizable contribution through an asset you may no longer need.
- If FaithTrust Institute is named as policy owner and beneficiary, this provides you an income tax deduction for the present cash value of the policy, as well as for any future premiums you pay and the value is removed from your estate for tax purposes.
- If FaithTrust Institute is named as beneficiary, the gift may qualify for an estate tax deduction.
- Proceeds pass directly to FaithTrust Institute outside of the probate process.
For more information, contact Jane Fredricksen, Executive Director, at 206-634-1903 ext. 25 or firstname.lastname@example.org.