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May 1, 2010 12:00 PM
Turning Pennies Into Dollars For Charities
The important, but complicated and sometimes scary role of life insurance in charitable giving
I am a bit of a spiritual seeker. Last summer, in search of the meaning of life, I trekked up one of the highest peaks in the Himalayas to seek the answer from two gurus who live in adjacent caves. The first guru told me that the key to the meaning of life is generosity. The second guru had a distinctly different point of view. She told me the key to the meaning of life is more life insurance.
Confused by what seemed to be conflicting answers, I struggled for days to reconcile the advice of the two gurus. After a great deal of soul searching, I came to the epiphany that “generosity” and “more life insurance” could be reconciled. I would buy a $1 million single premium paid-up life insurance policy and give it to my favorite charity, thereby obtaining the true meaning of life.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
E-Newsletter Signup
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