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 loved ones. Is it possible to do both? As a matter of fact, yes—with life insurance.

How It Works

When making a charitable donation threatens to reduce the size of your family members' inheritances, life insurance can make up the difference. Depending on your age and health status, you can purchase life insurance with death benefits equal to the value of your gift. Voilá!

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 Laurie Dietrich at 507-933-6043 or dietrich@gustavus.edu if we can answer any questions you have about this way to support our mission.