Donors may make tax advantaged gifts of life insurance to the Erie Playhouse in several ways. For example, a donor may make a gift of a life insurance policy by irrevocably designating the Erie Playhouse as the owner and beneficiary of the policy. Alternately, a donor may designate the Erie Playhouse as a percentage beneficiary of a life insurance policy owned by the donor.
Each method has different tax consequences. Donors should determine the best method for them in consultation with their financial advisors.