Martin has always ensured that his family would be financially provided for in the event of his untimely death.
He had a significant life insurance policy in place that would allow his wife to stay home and raise the family. His wife passed away a few years ago and his kids are now grown and independent. That policy is now paid up and while its original purpose is no longer relevant, a generous death benefit is still in place. One of the charities that Martin has long supported suggested he meet with an estate specialist from ADVISORS with Purpose.
As a result Martin signed ownership of the policy over to a public foundation and named them as beneficiary. He prepared a Letter of Direction indicating how he wishes the proceeds of the policy to be distributed by the foundation at his death. Martin feels good that a life insurance policy he purchased many decades ago to benefit his family when he passes away will now give a big boost to several ministries and charities close to his heart. And his estate will receive a healthy donation receipt for the full value of the death benefit, offsetting tax liabilities imposed by the sale of other assets.
Through the GoodSeed partnership with ADVISORS with Purpose, we are pleased to offer you a confidential review of your Will and estate.
Call today and speak to one of their qualified specialists.
Advisors with Purpose | Helping God’s people manage God’s assets
1.866.336.3315 | www.advisorswithpurpose.ca
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