Give Through Your Will

Key Idea: Lower current taxes by planning to give at death.

The moment you die, everything you own is given away. There are only three choices in where it goes:

  • Your heirs
  • The government
  • Charity

If you've chosen to give to charity at your death, you need to ask yourself this key question: Are you enjoying lower taxes in life as a result of the gifts that you will make at the end of life?

A Real Life Example

Tom and Betty have a grandson in full-time ministry with Young Life. They hope he remains in ministry his entire life and as such have included funds in their will to support his ministry for a long period of time.

Their situation:

  • Tom and Betty have an estate valued at $3 million.
  • They are making a gift through their will to Young Life for $500,000.
  • They are receiving no tax benefits from their bequest.

Their new plan provides:

  • Lower taxes — now.
  • Secure lifetime income stream.
  • Avoidance of $90,000 in capital gains taxes.
Results Income Tax Deductions Capital Gains Taxes Avoided Lifetime Income Stream Gift to Charity at Death
New Plan $157,700 $90,000
Each year for life
Old Plan $0 $0 $0 $500,000

Please contact us to learn more.

The information contained herein is for explanatory purposes only and is not intended to be used as tax or legal advice. The Young Life Foundation recommends that you contact a professional tax advisor who can provide you with additional information on how the use of the above techniques and ideas may apply to your personal tax situation.