Katherine’s church is a very important part of her life. Her parents were members of the church. She was baptized in the church. She grew up in the church. She was married in the church. Her children were baptized in the church. Her daughter was married in the church. Her grandchildren were baptized in the church.
Recently, she saw the Oklahoma United Methodist Foundation’s theme for 2015 – Remember Your Church When Planning Your Estate. Katherine knew that she wanted to leave a legacy gift to her church. She decided to explore the various options available.
One option is a charitable gift annuity. The donor makes a gift and receives fixed payments for one or two lives. The payments are based on the age(s) of the person(s) receiving the annuity. See charitable gift annuity rates, at right. There are also very attractive tax benefits.
Katherine has been exploring ways to increase her income. She has several large certificates of deposits that are yielding less than 1%. Katherine is 87 years old and, based on her age, her annuity rate would be 8.20%. Since a charitable gift annuity is a combination of a gift to charity and an annuity, Katherine’s church will benefit from the charitable gift portion upon her death. Katherine is very pleased with the fixed payments, tax benefits, and the satisfaction of remembering her church through a charitable gift annuity.
If you would like more information about charitable gift annuities and a personalized illustration of the benefits, please contact David Battles, CPA, at 800-259-6863 or firstname.lastname@example.org.
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