{"id":7380,"date":"2015-06-04T14:59:29","date_gmt":"2015-06-04T14:59:29","guid":{"rendered":"https:\/\/fiualumni.com\/?p=7380"},"modified":"2018-05-08T20:09:12","modified_gmt":"2018-05-08T20:09:12","slug":"you-are-generous-give-creatively","status":"publish","type":"post","link":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/2015\/06\/04\/you-are-generous-give-creatively\/","title":{"rendered":"You Are Generous. Give Creatively."},"content":{"rendered":"

As a financial advisor I am privileged to work with many wonderful and generous people who want to leave a legacy \u2013 to leave money behind which will continue to accomplish the good works the donor did during his or her lifetime.<\/p>\n

Often we see or hear the names of prominent donors \u2013 sponsors of a university building\u00a0or underwriters of NPR News\u00a0\u2013 and think, Well, yes; I\u2019d love to endow this or that organization or charity, but I\u2019m simply not in that league.<\/em><\/p>\n

You may be selling yourself short.\u00a0 One of the best ways to leave a legacy is with life insurance.\u00a0 For a manageable annual premium, you may be able to leave hundreds of thousands of dollars to your favorite organization.\u00a0 It works like this:<\/p>\n

    \n
  1. Decide which non-profit you\u2019d like to see flourish. Typically, this is a 501(c)(3) organization such as a church, an alma mater, a hospital, or a charity.<\/li>\n
  2. You work with the\u00a0development officer or planned giving department of the non-profit organization to accept your gift of life insurance. Typically, the charitable foundation itself will apply for a policy on your life, and be the owner and the beneficiary of the policy.\u00a0 You, the donor, are of course the insured.\u00a0 You don\u2019t make premium payments \u2013 you make tax-deductible<\/em> gifts to the charitable foundation, which in turn makes the premium payments.<\/li>\n
  3. If there is a specific objective for the funds, or if you desire a certain department to receive the funds at your death, make sure to get this in writing. The receiving organization may have a gift agreement which is mutually signed, and which codifies your wishes.<\/li>\n<\/ol>\n

    My business partner, at just 31 years of age, made a $100,000 gift to the Honors College at Florida International University \u2013 his alma mater.\u00a0 He structured the gift in such a way that he will make annual premium payments of $1500 for about fifteen years.\u00a0 At his mortality age (about 90), and assuming historical returns, the policy death benefit will have risen to $1 million dollars!<\/p>\n

    Jonathan says, Life insurance is an excellent way for younger people to give back.\u00a0 It\u2019s a vehicle many start thinking about later in life.\u00a0 Yet, assuming good health, opening a policy in your early years is a cost-effective way to give substantially<\/em>.\u00a0 I love that I am not only able to return to a community that opened doors for me, personally and professionally, but that my gifts of time and money go a long way.<\/em><\/p>\n

    Read more about Jonathan\u2019s gift to the FIU Honors College here<\/a>.<\/p>\n

    The point:\u00a0 don\u2019t let money keep you from making a planned gift and establishing the legacy you\u2019d like!\u00a0 Policies can be issued, generally, for as little as $25,000.\u00a0 Work with the planned giving officer of the organization you\u2019d like to support.\u00a0 Where there\u2019s a will, there\u2019s probably a way.<\/p>\n

     <\/p>\n

    About the Author<\/strong><\/p>\n

    Glenn J. Downing, MBA, CFP\u00ae<\/a>\u00a0is a principal at CameronDowning<\/a>, a Registered Investment Advisory firm in Coral Gables, FL.<\/p>\n","protected":false},"excerpt":{"rendered":"

    As a financial advisor I am privileged to work with many wonderful and generous people who want to leave a legacy \u2013 to leave money behind which will continue to accomplish the good works the donor did during his or her lifetime. Often we see or hear the names of prominent donors \u2013 sponsors of […]<\/p>\n","protected":false},"author":4,"featured_media":7381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[368],"tags":[375,366],"class_list":["post-7380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-philanthropy","tag-guest-post","tag-philanthropy"],"_links":{"self":[{"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/posts\/7380"}],"collection":[{"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/comments?post=7380"}],"version-history":[{"count":1,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/posts\/7380\/revisions"}],"predecessor-version":[{"id":15019,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/posts\/7380\/revisions\/15019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/media\/7381"}],"wp:attachment":[{"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/media?parent=7380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/categories?post=7380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fiualumni.com\/stay-connected\/alumni-news\/newsroom\/index.php\/wp-json\/wp\/v2\/tags?post=7380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}