Estate Planning
You may designate The Summit Church-Homestead Heights Baptist Church, Inc. to receive all or a portion of your estate after your lifetime. This type of giving may be accomplished through:
Will or Trust
You can name The Summit Church-Homestead Heights Baptist Church, Inc. in your will or trust as a beneficiary, and your estate may receive an income tax deduction for the value of your bequest. Consult with your estate planning attorney and your financial and/or tax advisor to analyze your particular situation and confirm benefits. You can also learn more at one of our upcoming Estate Planning Seminars.
Retirement Accounts
You can name The Summit Church-Homestead Heights Baptist Church, Inc. as a beneficiary of your IRA, 401(k), or other qualified retirement plans. Any amounts remaining in your plan, free of income and estate tax, will transfer to the Summit. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
Life Insurance
You can simply name The Summit Church-Homestead Heights Baptist Church, Inc. as beneficiary of part or all of your life insurance policy. You can also choose to make the Summit the owner of a life insurance policy that is no longer needed. When the Summit is made owner, you may receive a tax deduction for the amount of premiums you continue paying each year. If the policy is whole life, you may receive an immediate tax deduction for the cash value amount. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.