The John Marshall Law School

Creative Charitable Gift Annuity “Apps”

There seems to be no end to the useful applications generous people have found for charitable gift annuities:

• A Minnesota woman set up nine charitable gift annuities in her will, all benefitting members of her family.  She wanted to help a worthwhile cause, but also wished to ensure that family members would think of her every time they received a quarterly gift annuity payment.
• When their housekeeper of 32 years announced her retirement, a married couple and their family went together and set up a charitable gift annuity for the lady that would augment her Social Security payments and serve as a token of their love and appreciation.
• An IRA owner asked the IRS if she could leave part of her IRA to an organization to establish a gift annuity for a family member.  (The IRS approved.)
• “Minimum distribution” rules required Cynthia to withdraw $25,000 last year from her 401(k) plan – all taxable income that she currently has no need to spend.  She decided to use $20,000 of the distribution for a charitable gift annuity that will greatly reduce her taxes and provide 80% tax-free payments during her life expectancy.

We would love to help you explore the many opportunities to benefit yourself and others with a charitable gift annuity.  Just call our office.