Other insurance gift scenarios exist. If a donor has already gifted an asset to a charity, he or she can purchase a life insurance policy with the tax savings to replace the worth of the asset. Upon the donor's death, the family would then be compensated by the life insurance.

Another possibility is for a charity to set up a key person life insurance policy on a key donor or key executive. In the event of the donor's death, the charity would continue to be funded.

Copyright ONFS. Taken from ESTATEPLANNING PowerPoint Presentation, downloadable through ON-Net.

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