Planned giving

Planned giving is a strategy that makes benefits available for you as well as the future gospel sharing through First Baptist Church of Silsbee. Some of the benefits to you can include savings on current income taxes, better control of your estate, and reduced taxes for your heirs. The preferential tax treatments associated with planned gifts can help you maximize the benefits of your charitable contributions. We would be happy to talk with you about your ideas. Call (409) 385-2819 or email for more information.

bequests

Gifts through your will may be one of the simplest ways to distribute your estate. After providing for the needs of loved ones, you may choose one of several ways to benefit charitable organizations. By having your attorney revise your will, you can make a gift of a dollar amount, a specific property, a percentage of your estate, or what is left after you have provided for your loved ones. First Baptist Church of Silsbee considers it a great honor to be included in any donor’s will at whatever level the donor deems appropriate. While a testamentary gift does not provide current income tax deductions, it may help to reduce estate taxes. If you have established a revocable living trust, you can provide that at its termination, a portion of the assets in the trust be used for charitable purposes you direct. Much like a charitable bequest through a will, such a gift does qualify for a charitable estate tax deduction. Please consult your estate advisor or attorney as you plan ahead for the furtherance of the gospel message of Jesus Christ. 

stocks and securities

Gifts of appreciated capital assets such as stocks, bonds, and real estate can have significant tax advantages by avoiding capital gains tax in addition to providing a deduction. The amount of the deduction is based upon the market value of the asset on the date of contribution instead of the original purchase amount. By transferring the assets to First Baptist Church of Silsbee rather than selling them, you may avoid payment of a capital gains tax on the appreciation. If you have appreciated assets, you may want to consider transferring all or a portion of them to First Baptist Church of Silsbee. The church business office will provide assistance in coordinating the transfer with your broker.  Please work with your estate advisor or attorney in making these decisions.

life insurance

One way to make a gift of insurance is to purchase a new policy, naming First Baptist Church of Silsbee as beneficiary or partial beneficiary. This may be attractive to younger adults who want to make a large gift to the church in the future, but have smaller amounts to contribute now. Another way is to change the beneficiary of an existing policy. Life insurance needs change as life progresses. Children become self-sufficient, and investments may provide unexpected income and security. As a result, not all life insurance coverage may be needed for the reason it was purchased initially. Changing the beneficiary might be appropriate under such circumstances.  Please consult your financial/estate advisor or your attorney in making these financial decisions.