Estate Planning
You may designate Bethany Community Church to receive all or a portion of your estate after your lifetime. This type of giving may be accomplished through:
Bequests:
You can name Bethany Community Church in your will or revocable living trust as a beneficiary, and your estate will receive an income tax deduction for the value of your bequest. A bequest written in a will or revocable living trust can be made for either a percentage or an amount.
Life Insurance:
You can simply name Bethany Community Church as beneficiary of part or all of your life insurance policy. You can also choose to make Bethany the owner of a life insurance policy that is no longer needed. When Bethany is made owner, you may receive a tax deduction for the amount of premiums you continue paying each year. If the policy is whole life, you may receive an immediate tax deduction for the cash value amount. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
Retirement Accounts:
You can name Bethany Community Church as a beneficiary of your IRA, 401(k), or other qualified retirement plans. Any amounts remaining in your plan, free of income and estate tax, will transfer to Bethany Community Church. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.