We all know that giving can be a very satisfying and rewarding experience. And most of us want to leave a legacy to show that our lives have made a difference in society. Someone once noted that most of us will work more than 40 years to accumulate assets, will spend ten years conserving what has been accumulated, but will not take two hours to plan carefully for their distribution.
"It is not the plan that counts, it is the planning."
- Anonymous
Let's explore the power of Planned Giving!
Life Income Gifts - Charitable Gift Annuity
A Charitable Gift Annuity (CGA) is a gift vehicle that will return income to you and/or a loved-one for life. You can fund a CGA with cash or property. In addition to an immediate income tax deduction, you will receive a quarterly distribution, a portion of which is tax-free. The amount of the payment will be determined by the value of the CGA and your age. You can have a single-life CGA which makes payments only to you, or you can have a double-life CGA that will make payments to you and a loved-one, or someone you designate. Ultimately the remainder of the CGA will pass to Boys and Girls Homes without probate fees or estate taxes.
