By designating the Foundation as the beneficiary of your IRA or insurance policy and creating a Give It Twice Trust, your assets can help your family and bless the work of the Lord.
You complete an IRA or other investment account or insurance policy beneficiary designation form, naming the Foundation as the beneficiary. We establish a Charitable Remainder Unitrust that will later be funded by that account. When you pass away, the assets are transferred to your trust, which then will pay income to your surviving spouse and/or your children for a specified period of time. Once all trust payments have been made, the money is "given twice" by then being distributed to your local church or a favorite ministry.
A Give It Twice Trust can be a great way to provide for your children as part of your estate plan because it: