ESTATE AND ASSET GIVING

Protect Your Assets

After death, assets typically go to loved ones, the government or a charity. If your estate is taxable and your loved ones are the only beneficiaries, the government may consume a great deal of your estate. You may minimize this impact by adding Love Columbia as one of your primary beneficiaries.

Life Insurance Policies

When giving through a life insurance policy, you can designate Love Columbia as a beneficiary or as an owner and beneficiary.

When Love Columbia is a beneficiary of your policy, you still own the policy. For example, if your life insurance is a whole life policy, you will still be able to use the policy for your needs such as borrowing on or cashing in the policy. Your decision can be altered, and your estate will receive a tax deduction at the time of the ultimate gift.

When Love Columbia is the owner and beneficiary, you make an irrevocable decision for Love Columbia to own the policy. You will receive a tax deduction for your paid premiums, depending on whether the policy is paid up or not.  

For more details, contact your financial advisor, legal advisor and/or life insurance agent.