Episode 26

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Published on:

7th Jun 2023

Optimizing Your Financial World - Episode 26 (Should You Donate Life Insurance to Charity?)

We all know people purchase life insurance for a lot of reasons and the most common being to take care of their loved ones. Still others might use life insurance to maximize income or to address business concerns.

But on the latest episode of Optimizing Your Financial World, we’re going to examine a purpose for life insurance that many people aren’t aware of: Using life insurance for philanthropic giving so you can leave a charitable legacy.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:40 - Life insurance isn't as vanilla of a financial solution as some may believe

4:20 - Which kind of life insurance policies are pertinent to charitable giving strategies

5:19 - Who would benefit from leveraging life insurance for charitable inclinations

6:54 - How life insurance can be used to fund a charitable organization

8:12 - Giving a charity the life insurance policy itself

10:01 - How dividends come into play

12:10 - These efforts should be considered among other tax planning strategies

13:36 - How you can get in touch with Mark and his team

14:40 - Closing remarks

Connect with Mark Wade:

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About the Podcast

Optimizing Your Financial World
It's about how much you get to keep!
Welcome to Optimizing Your Financial World, where we tackle an array of financial strategies and wealth management topics to help better position you, your family, or your business for a better future.

Each episode features Mark Wade, President of Echelon Family Office, who brings over four decades worth of experience in wealth management and investment planning to the show. Mark regularly works with affluent families and entrepreneurs to help better position their portfolios given their personal and professional goals.

Listen as Mark explores a new financial topic each episode and offers guidance on navigating these complex circumstances. At the end of the day, it's not about how many assets you have or how much income you create, it's about how much you get to keep!

So sit back, relax, and allow Mark to shed some light on countless financial strategies and his methodologies for helping four decades worth of clients optimize their financial world.