Funding a Family Foundation
Often family Foundations are formed after the death of the Patriarch or Matriarch of a family. The funds used to establish the foundation generally come from the estate of the deceased in the form of a charitable gift. An alternative to making an outright gift from the deceased estate has been to use life insurance. However and as is the case with all forms of insurance, paying for the premiums, to create a foundation, especially with after-tax dollars can be a sticking point, regardless of financial wherewithal. Therefore, a viable alternative is to use FIT™ to fund a large death benefit that requires zero out of pocket cash thus eliminating the concern of liquidating invested assets to make a big financial commitment.
Charitable GiFTing to Endowments and/or
It is common for large estates to establish a Family Foundation to provide a vehicle for charitable giving. Often, life insurance is called upon is called upon to multiply the value of an outright gift of cash. To avoid funding issues there is a proven alternative. The FIT™ leveraging program requires zero out of pocket cash. In doing so, this eliminates the need for a large financial commitment with after-tax dollars. Furthermore, the donor is able to enjoy is able to enjoy the accolade of the charitable gift while living.