You may own an insurance policy that has a substantial cash surrender value, yet the original purpose for the protection no longer applies. The policy might have been purchased initially to provide financial security for a spouse now deceased, to educate children now grown or for liquidity to pay death taxes when liquid assets were in short supply. This policy can be a hidden asset, available to be used for your philanthropic purposes. You can name The Catholic Foundation for the Diocese of El Paso as the owner and beneficiary of a policy and receive an immediate income tax charitable deduction. There are also other options available to donors interested in retaining ownership of a policy as an asset for financial security.
Contact the Catholic Foundation at (915) 872-8412 for more information.
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