Life insurance beneficiary
Make a significant gift with life insurance
If you don’t have liquid assets right now but want to support a favorite charity, a gift of life insurance may be a good option. As long as you retain ownership of the policy, there is no charitable deduction for the value of the policy when you designate Napa Valley Community Foundation as the beneficiary or for subsequent insurance premiums that you might pay. You retain access to the cash value of the policy, and the right to change the beneficiary designation. Proceeds payable to the Community Foundation at your death, however, will not be subject to federal estate taxes.
Life insurance trust
You can replace the dollar value of an asset transferred to the Community Foundation with a life insurance policy, or you can use regular payments from a charitable gift annuity or charitable remainder trust to establish an irrevocable life insurance trust. The trust can purchase insurance on your life to benefit your heirs. This way, you can make a gift to the Community Foundation and replace the value of this gift within your estate with life insurance proceeds.
What matters to you? You can specify the area of community need you want your gift to support.
