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But What About the Kids?
You want to make a significant gift to Saint Louis Science Center but not at the expense of loved ones. Is it possible to do both? As a matter of fact, yes—with life insurance.
How It Works When making a charitable donation threatens to reduce the size of your family members' inheritances, life insurance can make up the difference. Depending on your age and health status, you can purchase life insurance with death benefits equal to the value of your gift. Voilá!
Another Option Rather than owning the new life insurance yourself, it may be preferable to own the policy inside an irrevocable life insurance trust (also called a wealth replacement trust). You would typically name a bank trust department or trust institution as trustee. Doing so will enable your heirs to receive the death benefit of the life insurance without having to pay estate taxes. Plus, life insurance is generally income tax-free to your beneficiaries.
How does a trust work? A trust makes a person or institution the owner of your property, held for a loved one's or your benefit and administered by the trustee you name.
Please contact Christine L. Yount at 314-289-4405 or cyount@slsc.org if we can answer any questions you have about this way to support our mission.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
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Night Sky Update - What's in the sky tonight? See what to look for. 
