October 28, 2008
Iowa Conference News
A Gift of Life Insurance
Many people ask: “How can I make a gift to my church or a ministry without paying out cash?” One possible way may be through life insurance. There are several ways to make a gift of life insurance: 1) Some of us have lived long enough that we have paid-up policies. We probably purchased that insurance to protect a young family and that family may now be adults. You could gift the paid-up policy to the church. You would receive a tax deduction for the cash value of the policy which could create an endowment for your church or favorite ministry. 2) You could give a policy that is not paid up but has cash value. You could instruct the church to cash in the policy or you could write a check to the church each year to pay the premium. If you gave the policy and the church cashed in the policy, you would receive a tax deduction for the cash value. If you chose to write a check to the church each year to continue the policy, the original cash value would be deductible in the year of the gift and, if you made annual gifts to the church for the amount of the policy premium, those gifts would be tax deductible. 3) You could make the church the beneficiary of a term life insurance policy. While there would be no immediate deduction because there is no cash value, you would know that you had provided for a gift to your church. You could gift the term policy to the church and continue to pay the church the premium which would be a tax deduction for you.
For assistance or more information contact Dave Harner 515-974-8928 or
david.harner@iaumc.org.
Your IRA - Your Legacy
Do you know that you can make your church or the Iowa United Methodist Foundation the beneficiary of your IRA or use the IRA to establish a Charitable Remainder Trust for the benefit of your spouse or other relative with the remainder to go to our ministry? This could provide support for a loved one, save taxes, and benefit United Methodist ministries. A Trust could support a spouse or loved one for their lifetime or a number of years (up to 20). If you do not need to support someone, the IRA may be left to your church or the Foundation by simply completing a new Beneficiary Form. We recommend you always consult your financial advisor and a trust attorney when establishing a trust. For more information contact Dave Harner – 515-974-8928.
United Methodist Volunteers in Mission (UMVIM)
Team Leader Training
Two Opportunities:
November 22, 2008 10:00 am – 2:30 pm
First United Methodist Church, 312 S Main, Ida Grove, IA 51445
A light lunch will be served on free-will offering basis
November 23, 2008 1:30 pm – 4:30 pm
United Methodist Church, 700 11th Avenue NW, Sibley, IA 51249
The church will be serving a lasagna dinner from 11:00 am to 1:00 pm so come early and support the host church
Download Registration Form Here
Mail completed registration form to:
Dan and Jean Houston, 1530 Quill Ave, Madrid IA 50156
mid-week update is a ministry of the Communications Ministry Team
of the Iowa Annual Conference
