This Week's Topic: CHARITABLE GIVING WITH LIFE INSURANCE

Life insurance is an excellent method for making large charitable contributions without needing a lot of cash. In other words, the life insurance on your life is owned by the charity and it is also the beneficiary. You make an annual contribution to the charity which it then uses to make the premium payment for your life insurance. When you die, the charity has a lump sum to invest to, in affect, continue your annual contribution.

Also, you get a tax deduction when you make the charitable contribution and probably some good publicity about the large contribution you made via the face amount of the life insurance policy.

There are many ways that charitable giving techniques can be utilized to assist with your tax and financial planning. Consult your CPA, attorney and/or your favorite charity for assistance.