Life Insurance  
Consider a gift of life insurance, if you have modest resources and yet wish to make a major gift. There are many ways this can be done with varying tax consequences. Be sure to discuss the options with your insurance and financial advisors. Examples include:

 
  1. Name Holy Cross Ministries as beneficiary of your existing policy.
  2. Purchase a new policy with Holy Cross Ministries named as beneficiary.

 
Ownership of the policy can also be transferred to Holy Cross Ministries while you continue to pay the premiums or make cash donations each year to cover the cost of the premiums. These payments can be tax deductible as charitable contributions. Again, state regulations and tax consequences are important to consider before making such a gift.

 
Be sure to discuss the options with your insurance and financial advisors.