Charitable Gift Annuity

Charitable Gift Annuity

October 09, 2019

Charitable Gift Annuity: Giving While Managing your Retirement


You like to give to charity.  You need a steady income stream either now or for an upcoming retirement.  You have cash in CDs, money markets or savings accounts.  Or have assets such as stocks or real estate that provide no income to you.  You could really use a tax deduction during your present high income phase of life, but would prefer additional income later.  If some of these describe you, you may be interested in a charitable gift annuity. 

Charitable gift annuities are use to support charity while pursuing secure and tax-advantaged payments to you.  You can do this by gifting the asset to the charitable gift annuity.  Once the annuity is established, you can begin receiving fixed tax-advantaged payments immediately, or at a future date, if you so choose.  The amount of the payments depends on your age at the time of the gift and the initial value of the asset when it is gifted to the annuity.  At the same time, you may be giving a gift to charity.

One key thing to remember about Charitable Gift Annuities:  The assets gifted to the Annuity can provide a very nice income to you, but it will not be available to your heirs.


Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor. Guarantees are based on the claims paying ability of the issuing company.