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Creating A Legacy

Creating A Legacy. Explore an innovative financial strategy that will permit you to create a legacy for your preferred religious institution, charity, university, or any cause you deem worthy of your support.

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Creating A Legacy

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  1. Creating A Legacy Explore an innovative financial strategy that will permit you to create a legacy for your preferred religious institution, charity, university, or any cause you deem worthy of your support. This strategy will enable you to create a legacy without diverting your financial assets from the causes you now generously support. Utilize the leverage available through one of the world’s most prestigious financial institutions to provide a legacy that will further the institutions and causes that you hold so dear. Based upon your net worth you have the capacity to create a fund without impacting or replacing the gifts that you make each year or the charitable bequests that you’ve already established as a part of your estate plan. This brochure will explain the basic structure of the program. To discover how this program can enable you to create a legacy please contact our offices to arrange for a personal conference. Alan Jay Ackerman Attorney at Law Two Penn Center Plaza Suite 200 1500 JFK Boulevard Philadelphia PA 19102 (215) 854-6373

  2. Creating a Legacy Charitably inclined, you regularly give of your time, your passion, and your finances to support your Church or Synagogue, your Alma Mater, community hospitals, scientists struggling to find the cures for those illnesses that have stricken all too many of our loved ones, or to aid the less fortunate members of our society. Aside from the annual financial support you so generously contribute, and the bequests you’ve made under your Will or by use of a Charitable Remainder Trust, there is now a way in which you can provide a legacy that will neither impact your current program nor divert funds from family and other persons who are the objects of your bounty. This program is made possible by the financial resources of one of the world’s leading banks, providing services for people like you in more than 50 countries across the globe. An Overlooked Asset An asset that is regularly overlooked is the unutilized capacity in our insurable interest in our own life. Each of us has the ability to purchase life insurance on our own life based upon underwriting guidelines tied to net worth. The difference between the life insurance coverage on our life, and the limits of insurable interest for underwriting guidelines, is referred to as our unused capacity. The life insurance benefits of this unused underwriting capacity pass away along with our own passing. This is an asset than can be put to use in creating a charitable legacy. The Legacy Program will arrange for permanent lifetime financing over your entire lifetime. This permits you to put your unused underwriting capacity to use without diverting any annual funds that currently benefit your charitable causes nor disturbing the charitable bequests now a part of your estate plan. By insuring your life to the maximum capacity for the benefit of your religious institution, university, charity or civic organization with premiums fully financed and secured by the insurance policy, you will convert an overlooked asset into a legacy. Don’t permit an overlooked asset to pass with you when it could benefit so many others.

  3. Eligibility for Program Participation Minimum age of 70 Maximum age of 90 Insurable as a Preferred or Standard risk for medical underwriting. Life Expectancy report of 15 years or less Net worth of not less than $5 Million. Financial underwriting capacity, the insurable interest in our life, which includes all policies now in force policies plus the applied for coverage, falls in the range of 75% to 100% of net worth. Procedures A medical underwriting inquiry form, along with an un-audited financial statement will be submitted to determine initial eligibility. Once eligibility has been determined your advisors will be consulted to complete the financing and legal documents and an application will be submitted to the life insurance company for issuance of the financed policy. This has been a thumbnail discussion of an exciting financial tool that will permit you to enhance your gifting program and create a meaningful legacy to those charities, hospitals, universities, religious institutions and causes that touch your heart. Call my office today and we can set an appointment to discuss the specifics of this program and how it fits into your specific goals and plans.

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