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Richard T. Miller, CPA, PFS
Registered Representative
Van Buren Financial Group, LLC
615 West 18th Street, Wilmington, DE 19802
Phone: 302-655-9505
November/December 2024
The Gift of Life Insurance
In this season of giving, some people want to give more to a favorite charity or organization but don't have the funds to do so. Giving the gift of life insurance is a cost-efficient way to increase your charitable giving.
Your Choice
There are a few ways to give life insurance, some of which may include current or future tax advantages. Talk to your accounting professional to learn more about how you may best benefit a charity and potentially receive tax benefits in return.Charitable Choices
One way is to rename a charity as beneficiary, eventually removing this benefit from your estate.Another way to make charitable use of life insurance is to ask your insurance company if it can issue a charitable rider, directing a percentage of the death benefit to a named charity. If, for example, you have a $500,000 policy and you acquire a rider of 10%, the charity would eventually receive $50,000, with your named beneficiaries receiving the remainder.
Van Buren Financial Group, LLC and LTM Client Marketing are unrelated companies. This newsletter was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
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