The Darnell Financial Planning Team helps clients of diverse backgrounds focus on their individual and family financial goals. Whether you are looking for retirement, tax, insurance, or estate planning, they are ready to help. Together they are dedicated in working to define short-term, as well as long-term goals & objectives, as well as money management programs for clients. If they could leave you with one statement to remember it would be, “No debt is too great or income too small to deter the financial planning process.”
The Darnell Financial Planning Team can be reached in the San Luis Obispo office at (805) 541-4IRA (4472) online at: www.SLOFinancialPlanning.com.
Donating a Life Insurance Policy Donating an old life insurance policy to your favorite charity can be a win win proposition. In general, the full transfer of an existing life insurance policy to a qualified charity entitles its donor to a charitable income tax deduction. The amount of the deduction will be the lower of (i) the fair market value of the policy or (ii) the aggregate premiums paid into the policy by the donor. The fair market value or cash value would be reduced by any loans that are outstanding. In cases where the cash value is actually larger than the total premiums paid...Read More
