What are some tax-efficient ways to leave money to a charity?
Depending on your particular situation there can be several tax-efficient ways to donate money through life insurance. By purchasing a policy naming the charity as the beneficiary you receive a tax credit each year for the premiums while the charity receives the death benefit when you pass away. Alternately, you can name your estate as the beneficiary and then donate the cash through your will. This gives your estate a very large tax credit but has the downside of exposing the death benefit to probate tax.
