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ABYC Foundation |
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Life Insurance
If you own life insurance that may no longer be needed or may increase your estate taxes upon your death, consider making the ABYC Foundation both the owner and the beneficiary of the policy. Any cash value in the policy can be deducted as a charitable contribution. If annual premiums are still required, and you continue to pay them, those premiums will become a tax deduction as well. Additionally, many individuals of modest means are establishing life insurance policies with the charity as beneficiary. They may not have a lot of money to contribute, but they can afford the relatively modes annual outlay of the premiums, in order for the charity to significantly benefit upon their death.
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