Sometimes people find themselves with life insurance policies and retirement plans they no longer need, such as after the death of a spouse or after children are no longer dependent. By contributing such a policy to the Ohio Environmental Council, you can make a wonderful gift to Ohio's environment and reduce taxes that may otherwise be due upon your death.

If your beneficiary of your retirement assets (such as an IRA, 401(k) or pension plan) is an individual, that person may lose up to 75% percent of the assets to income tax, excise tax, and estate tax!

By arranging now to donate your pension plan assets or IRAs to the Ohio Environmental Council, you can reduce your estate tax and help your beneficiaries avoid federal and state income tax.

If you'd like a simple, popular and relatively inexpensive way to make a substantial gift to the Ohio Environmental Council, life insurance may help you to give more than you could otherwise afford.

You can make the OEC the owner and beneficiary of a life insurance policy you now own or a new policy you purchase, or you can make the OEC one of the beneficiaries of an existing policy.

For example, John Doe owns a paid-up $20,000 policy with $8,000 cash value. His children are now grown and the plan is thus no longer really needed. He can name OEC the owner and beneficiary of the policy and may receive an $8,000 charitable deduction.

If you are considering a gift, we welcome the opportunity to sit down with you and your legal or tax consultant or financial advisor to ensure that any decision is fully advised. Please contact Jodi Segal, Director of Development at jodi@theOEC.org or (614) 487-7506.