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MLN Charitable Trust The Missouri League for Nursing (MLN) Board of Directors is pleased to announce this program to assist you in making decisions regarding donations to charity. The MLN is a 50lc(3) organization and qualifies as a "public" charity by the IRS. Your contributions will assist MLN in meeting its mission to support the delivery of quality health care by nurses and other health care providers through education, collaboration, and information. WEALTH REPLACEMENT TRUST By directing a portion of the tax savings and/or additional income generated by your charitable gift to the acquisition of life insurance, which can replace the wealth donated to charity, you can donate your assets to charity and still retain a portion to be available for your heirs. The life insurance should be owned outside of your taxable estate; i.e., by children or by an irrevocable life insurance trust (sometimes called a "wealth replacement trust"). As long as your children or the irrevocable trust own the policy, the
insurance proceeds will not be included in your estate. Since the proceeds
will avoid estate taxes, the net assets your heirs receive will generally
be greater than they would be by simply leaving them the original wealth.
This information is being provided as a service and should not be construed as legal, tax, or financial advice. Please consult your tax consultant and your attorney for legal advice regarding your specific situation and for the preparation of any legal documents. |
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