Other Planned Gift Arrangements

Wealth Replacement with Life Insurance

        When you make a gift to the Church, you may use a life insurance trust to
replace the value of the donated assets.  In this way, you can protect the
interests of your heirs while still fulfilling your philanthropic goals. The life
insuranceprovides the dollar amount, and the trust, provided it is irrevocable,
removes the proceeds from your estate for tax purposes.

        In this arrangement, you create a trust to buy insurance on your life, with
your children as beneficiaries. You can use the tax savings from your charitable
gift, or the payout from a life income arrangement, to cover the premiums. After
your death, the proceeds from the policy pass to the trust free of estate taxes,
thereby replacing the value of the original charitable gift.

        Wealth replacement life insurance trusts can be set up in several different
ways, and all have strict technical requirements. You should discuss them with
your financial and legal advisers before deciding to pursue this option.  The
Church's development staff will be happy to answer your questions.

Advantages:
* Restores asset value to your estate at relatively low cost
* Opportunity to make a substantial gift to the Church without consequence to
    your heirs
* Estate tax and probate savings