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With nominal premium expense, a life insurance policy can be used to leverage a substantial gift to the Garden. Insurance proceeds won’t be delayed by estate settlement requirements, and the distribution escapes all taxes and other
professional fees.
The Garden can be named as a beneficiary or owner of a life insurance policy. To receive a charitable deduction, you must transfer ownership of the policy to the Garden. If the policy is not fully paid, your future premium contributions to the Garden would be tax deductible.
If you continue to hold the policy, be sure the insurance company has the Garden’s official address on file, 200th Street and Kazimiroff Boulevard, Bronx, New York 10458-5126.
For more information, please contact the Office of Planned Giving at 718.817.8545 or via e-mail. There is no obligation, and all information will remain confidential.
For your convenience, the Gift Illustrator Tool computes anonymously your own life-income and tax benefit reports. The information will neither be saved nor used by the Garden and is for discussion purposes only with family and legal or financial counsel.
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