A charitable gift of life insurance is an innovative way to provide a highly leveraged endowment to Chabad of Westwood - Holmby . There are several ways to gift life insurance. You may contribute a new or existing policy by transferring the policy to Chabad of Westwood - Holmby and naming the Center as owner and beneficiary. There are substantial benefits to both you and the Center. The premium payments will provide you with an income tax deduction. The endowed gift to the Center will be substantially larger than the amount used to fund the insurance policy. The insurance policy proceeds pass directly to the Center outside your estate and are not subject to probate or estate taxation. Therefore, your estate will be undiminished by the gift. You may wish to add Chabad of Westwood - Holmby to an existing policy as a remainder beneficiary or you can utilize the values in an existing policy to fund a more highly leveraged one. Since life insurance premiums are based or mortality rates, gifts of life insurance are extremely affordable for younger donors, affording them the opportunity to make sizable gifts.

There are various creative ways that life insurance combined with charitable trusts can be utilized as asset replacement plans. A wealth replacement trust transfers property free of federal estate and state inheritance taxes and often provides an even greater inheritance for your heirs. A wealth replacement trust is a sophisticated charitable estate planning tool utilizing a charitable remainder trust coupled with life insurance. It replenishes estate values for your children or other intended beneficiaries through the purchase of life insurance. You can provide a lasting legacy to Chabad of Westwood - Holmby and to your heirs.

For personal assistance contact: Rabbi Shalom Cunin at [email protected] or call 310-709-1556.

Chabad Westwood is a 501(c)3 non-profit organization. All grants & charitable contributions are tax-deductible.