Flexible Deferred Gift Annuity
Lewis and his spouse, Ann, sold a vacation home earlier this year and are looking for a way to offset the capital gains tax owed from the sale. Lewis enjoys the challenge and responsibility of his job and is not quite ready to retire. But, he is looking at planning options for retirement.
Lewis: Ann and I were both in good health, and I still enjoyed working. We were living comfortably on my current salary but were looking for ways to plan for retirement. I wasn't quite certain when I would retire, so we wanted to find an option that would let me be flexible with my retirement date.
Ann: A gift planner from our favorite charity told us that a flexible deferred gift annuity would help us meet our goals. Instead of selling our appreciated stock and paying high capital gains tax, we could give it to them and receive an immediate charitable tax deduction to offset our current tax bill. The flexible deferred gift annuity would permit us to elect to begin taking payments for life when Lewis was ready to retire.
Lewis: We decided to set up the flexible deferred gift annuity. We received a charitable tax deduction in the year that the gift was made and experienced immediate tax savings. When I am ready to retire, we will contact our favorite charity to begin payments, giving me the flexibility to continue working as long as I would like. In addition, the flexible deferred gift annuity makes it possible for us to receive a large portion of each payment tax-free, and this is an attractive benefit!
Is a flexible deferred gift annuity right for you?
If you are interested in a charitable gift annuity but don't have a present need for the annuity payout, a flexible deferred annuity could be the right gift for you. You decide when you want to begin receiving the annuity payout. The longer you defer the payments, the higher the payout.
Contact us if you would like to learn more about flexible deferred annuities and how this gift could help you.
*Please note: The names and image above are representative of a typical donor and may or may not be an actual donor to our organization. Since your gift annuity benefits may be different, you may want to click here to view a color example of your benefits.
For California Residents: THIS IS NOT LEGAL ADVICE. ANY PROSPECTIVE DONOR SHOULD SEEK THE ADVICE OF A QAULIFIED ESTATE AND/OR TAX PROFESSIONAL TO DETERMINE THE CONSEQUENCES OF HIS OR HER GIFT. "Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. For Oklahoma Residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. For South Dakota Residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance