Gifts
of Life Insurance, Retirement Assets and Bequests:
If you change ownership of a paid-in-full life insurance policy
to First Baptist Jackson, you may have a current income tax deduction.
By naming First Baptist Jackson as the beneficiary of all or a portion
of your retirement assets upon your death, you may make a gift of the
assets that may have been your most highly-taxed assets, which may provide
lesser-taxed assets to be left for your family. If you name First Baptist
Jackson in your Last Will and Testament or living trust, your contribution
will be exempt from federal estate tax, and you will still have control
of your assets during your lifetime. These may be complicated financial
transactions, and we strongly urge you to consult an attorney or tax
professional before making any such arrangements.
For more information, please contact Bobby Ray, Business
Administrator, at 601-949-1927 or bray@fbcj.org.
