Many individuals have life insurance policies whose benefits they no longer need. If this applies to you, you may want to consider naming the Care Resource as the beneficiary and assigning it ownership of the policy. In doing so, you will receive a charitable deduction; and in removing the life insurance policy from your estate, you may also reduce your estate taxes. A gift of a current policy may also enable the donor to turn a monthly premium into a tax-free charitable gift. Care Resource can also be included as a beneficiary of a policy.
If you or your advisers have any questions about this information, please contact Care Resource at 305-576-1234 Ext 384, or by email at firstname.lastname@example.org.