Legacy Giving
Life Insurance
Your contribution allows us introduce new generations to the Listening Point where they can experience what Sigurd was so passionate about firsthand.
Can it work for you?
A life insurance gift
might be for you if:
You are a younger donor who wants to make a significant gift.
You have an estate that won’t have substantial assets to distribute to non-family members.
Benefits
Execute this estate planning strategy with little paperwork. Change your mind and beneficiaries at any time.
Remove an asset from your potential gross taxable estate, saving on taxes in the future.
Make a significant gift from income instead of capital.
Build your future conservation goals.
Gain personal satisfaction in providing for the causes that matter to you most.
How It Works
Name LPF as the primary beneficiary of your life insurance policy or as contingent beneficiary should your other beneficiaries not survive you.
Steps:
Provide now for a future gift by naming LPF as beneficiary of a policy insuring your life.
At death the benefits pass to LPF free of federal estate tax and are applied to the program designated by the donor.
Please note: You can also irrevocably donate your paid-up life insurance policy – please contact us directly about making this type of gift.
Example: You bought a life insurance policy to protect your family. Your family no longer needs this protection and you decide to name Listening Point Foundation as the beneficiary of the policy. After your lifetime, the policy benefits will go to LPF to help in so many ways.
Ensure your gift is received
Request a beneficiary form from your bank or plan administrator. This form—not your will—determines how these assets are distributed after your lifetime.
Write in Listening Point Foundation as beneficiary or partial beneficiary using our business address:. 106 E Wilson St, Ely, MN 55731
If the form requests a social security number, use our tax identification number: 39-1929276. If the form asks for a date of birth, use our date of incorporation: January 2010.
Return the beneficiary form to your plan administrator. Send us a copy as well, sharing as much account information as you’re comfortable with so we can correctly identify and claim your gift. (e.g., account type, account number, approximate value). Your gift will be used to support priorities unless you specify otherwise.
When creating your will or trust, include a list of your non-probate assets and the beneficiaries’ contact information. Also be sure to speak to your executor/trustee about providing copies of death certificates, which most custodians require for beneficiary claims.
More Information
To learn more and talk with us please contact our staff by emailing giving@listeningpointfoundation.org or call (218) 365-8889