Life Insurance to Replace Gift
How Does It Work
- You make a gift to Southwestern University
- You give the tax savings to your children
- Your children purchase an insurance policy on your life
- Your children will receive the proceeds upon your death
Benefits
- You can make a significant gift to Southwestern University without diminishing the amount your family will receive
Next Steps
- I’d like to see a detailed description of this gift
- I’d like to have a confidential conversation with a gift-planning
officer about this gift plan or other options - I’d like a personal calculation of this gift
Please note: Because the federal estate tax has been repealed for 2010, there is no current estate tax in 2010 for the gifts described on this page. However, the consensus opinion among professionals is that Congress will enact an estate-tax law that may be retroactive to January 1, 2010. It is very important that you seek the advice of your estate-planning attorney to determine what changes, if any, need to be made to your existing estate plans, and then again if Congress reinstates the estate tax sometime later this year.
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