Why make a gift to the IRS? Gifts of life insurance, charitable lead trusts, and retirement plans all qualify for membership in the Virginia Heritage Registry.
Life insurance Many people purchased life insurance policies years ago to protect children who are now grown. Policies with a cash value often remain in force, even though they have outlived their usefulness. Such a policy can help the VHS in two different ways. If given ownership of the policy, the society can redeem it for a substantial cash payment. Or if the VHS becomes the beneficiary, then it will one day receive the policy's death benefit, assuming any required premiums are paid. Learn more about giving life insurance.
Charitable lead trusts Lead trusts are wonderful ways to give to the VHS that can drastically lower the tax on transfer of one's assets to loved ones. Learn more about charitable lead trusts.
Retirement plan gifts Retirement plans left to family heirs are more heavily taxed than perhaps any other asset. Hence, they are worth more in the hands of VHS, which pays no tax, than they are to family. Learn more about retirement plan gifts.