But What About the Kids?

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You want to make a significant gift to Gustavus Adolphus College but not at the expense of the kids. Is it possible to do both? As a matter of fact, yes—with life insurance.

How It Works

If making a donation to Gustavus Adolphus College threatens to reduce the amount you can leave to your loved ones, life insurance can make up the difference. Depending on your age, health and marginal income tax rate, the money you save in taxes thanks to the charitable deduction you will receive for your donation can be used to purchase life insurance with death benefits equal to the value of your gift.

eBrochures
Download a free guide to learn more about giving life insurance.

Another Option

Rather than owning the new life insurance yourself, it may be preferable to own the policy inside an irrevocable life insurance trust (also called a wealth replacement trust). You would typically name a bank trust department or trust institution as trustee. Doing so will enable your heirs to receive the death benefit of the life insurance without having to pay estate taxes. Plus, life insurance is generally income tax–free to your beneficiaries.

Question Mark

How does a trust work?


A trust makes a person or institution the owner of your property, held for a loved one's or your benefit and administered by the trustee you name.

Please contact Jackie Peterson at 507-933-7543 or jpeters9@gustavus.edu if we can answer any questions you have about this way to support our mission.