A Gift of life insurance — large gift, little cost

Life insurance allows you to make a meaningful gift to Meher Mount while preserving other assets for yourself and your family.

Benefits

Life insurance is a simple step with powerful results.

• Life insurance affords you the opportunity to make a sizable gift for a minimal outlay of cash.

• In some cases, this requires no additional cash outlay, which frees you to plan and pursue other financial goals.

• You do not have to add to or change your will or bequest.

• Similar to a retirement plan designation, the proposed gift is accomplished by naming Meher Mount as a beneficiary of the policy on the beneficiary designation form.

How It Works — two ways to use life insurance for charity

Option 1: Naming Meher Mount as a beneficiary (or partial beneficiary) of your policy.

• You can make Meher Mount the primary or secondary beneficiary of your life insurance policy using the beneficiary designation form from your insurance company.

• Or you can make Meher Mount the whole or a partial beneficiary of your life insurance policy using the beneficiary designation form from your insurance company.

• Mount will use the entire amount of the policy, free of tax, for the purpose you specify.

• Naming Meher Mount as a beneficiary ensures the privacy of the transaction. Also, because a life insurance policy is a contract that passes outside a will, it cannot be contested in probate proceedings. Both factors may be important to donors who are concerned about the division and distribution of their estate.

Option 2: Naming Meher Mount as the irrevocable owner and beneficiary of your policy.

For some donors, making Meher Mount the owner of an insurance policy is an easy way to make a gift to Meher Mount.

• This entitles you to a charitable income tax deduction for the policy's cost basis or for its cash surrender value, whichever is less.

• If you transfer ownership of a policy that is not fully paid up, premiums continue to be due, and payments need to be made to Meher Mount Corporation. You may deduct future premium payments as charitable contributions.

• Meher Mount will use the amount of the policy for the purpose you specify.

How to designate meher mount as a beneficiary

Contact your plan or policy administrator for the necessary forms. The beneficiary and/or owner would be:

Legal Name: Meher Mount Corporation, a non-for-profit 501(c)3 organization
Address: 9902 Sulphur Mountain Road, Ojai, CA 93023-9374
Telephone: 805-640-0000
Federal Tax ID: 77-0236525

In order to appropriately credit you with the gift, please contact Robert Turnage, Treasurer, upon the completion of the designation forms at 916-837-3907 or robert.turnage@sbcglobal.net

Questions or Need More Information?

Conversations with Meher Mount’s planned giving team are always confidential and never imply an obligation. We will respond and provide the information you requested.

Share Your Plans to ensure your legacy

If you have already included Meher Mount in your estate plans (or intend to), please let us know. We can answer any questions your plan administrator might have.

Understanding your intentions will help Meher Mount make sure your gift is used exactly as you wish. And we would also like to personally acknowledge your thoughtfulness and generosity.

Consult Your Personal Advisors

The information provided above is not to be construed as tax, accounting or legal advice and could change as tax laws change. You are advised to consult with your legal advisor, tax advisor, or professional estate planner to determine which options are best suited to your individual situation.