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Gift-Replacement Life Insurance
(Complete gift description)
You're impressed by the benefits of a life-income gift: a donation that significantly helps Berkeley while also paying income back to you; and saves on income and capital gains taxes.
The problem? Taking an asset out of your portfolio to fund a life-income gift could jeopardize the financial benefit your children or heirs are counting on from your estate. A life-income gift will help you, but what will its effects be on them?
There is a solution. Use the income you will receive from your life-income gift which will, in many cases, surpass the yield on the assets you donated and tax savings from the charitable deduction, to pay the premiums on a gift-replacement life insurance policy benefiting your heirs. Set the death benefit of the policy at an amount equal to the value of the assets you contributed to Berkeley (or a larger sum reflecting how those assets would have grown in value).
At your death, Berkeley will receive the remaining balance in your life-income gift. Your heirs will receive the proceeds of the life insurance policy. The result? You've done what you thought you couldn't do – make a substantial gift to Berkeley and also fully provide for your heirs in your estate.
For more information
Email us, complete the personal gift proposal form, or call us at 510-642-6300 so that we can assist you through every step of the process.
