The current economic crisis has brought about what may be the most severe reduction in charitable giving since the Great Depression, creating the dual challenge of rising demand for services and declining revenues. Even for those non-profits whose donors have continued their giving, the gifts are smaller. Moreover, those givers who had once hoped to make a truly significant gift that would make a significant impact on behalf of a favorite cause have deferred if not abandoned their objective.
Survivorship life insurance
Survivorship life insurance, especially when used with a life insurance trust, is one of the most beneficial vehicles in estate planning. Owing to its low cost, more robust utilization of this funding method can rescue charities, especially when combined with donation splitting, which provides a powerful leverage aspect to donors’ legacy gifts.