Save Our Heritage Organisation
Gifts of Life Insurance
A gift of life insurance to SOHO can result in a charitable deduction for the donor at a relatively low cost. There are different ways to give through life insurance, summarized as follows:
1. Paid-up policies. You may have a life insurance policy purchased for specific purpose that is now obsolete, such as a policy purchased to now paid-off home loan or to cover the college education of a now-grown child. By naming SOHO as the beneficiary, assigning dividends to SOHO or transferring ownership of the policy to SOHO, you can receive a charitable deduction.
2. New policies. By making SOHO the owner and beneficiary of a new policy, the donor can take an income tax deduction for the amount of premiums paid.
3. New policies in a wealth replacement vehicle. Those individuals who establish a charitable remainder trust (See Charitable Remainder Trusts) can also establish an insurance trust that purchases a life insurance policy for the benefit of their heirs. The life insurance policy can be paid for by the tax savings created by the charitable remainder trust. The donor then receives income for life from the charitable remainder trust. Thereafter the donorās heirs receive benefit from the life insurance proceeds and the charity, such as SOHO, receives the trust assets at the donor's death.
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Cash
Charitable Lead Trusts
Charitable Remainder Trusts
Gifts of Life Insurance
Gifts of Real Estate
Gifts of Tangible Personal Property
Legal Defense Fund
Life Estate Agreements
Pooled Income Funds
Securities
Wills and Revocable (Living) Trusts
For more information contact: Bruce Coons, Executive Director
bruce.coons@SOHOsandiego.org
Save Our Heritage Organisation
2476 San Diego Avenue
San Diego CA 92110
Phone: (619) 297-9327
Fax: (619) 291-3576
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