Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Charitable Gift Annuities
Old 11-19-2019, 08:03 AM   #1
Thinks s/he gets paid by the post
street's Avatar
 
Join Date: Nov 2016
Posts: 2,729
Charitable Gift Annuities

Anyone familiar with them or have gifted in this way to your charity list? Not an annuity fan but then again it is for charity, you can receive payments back or gift the amount back again.
__________________

street is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-19-2019, 08:51 AM   #2
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 3,767
Quote:
Originally Posted by street View Post
Anyone familiar with them or have gifted in this way to your charity list? Not an annuity fan but then again it is for charity, you can receive payments back or gift the amount back again.
I don't know that term but there is a fairly common trust called a charitable remainder trust. IIRC the grantor receives the income and at the grantor's death the charity receives the balance. This is territory for specialist CPAs and attorneys.
__________________

OldShooter is offline   Reply With Quote
Old 11-19-2019, 10:08 AM   #3
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 3,767
A little more research says a "charitable remainder annuity trust or CRAT" is a type of charitable remainder trust: https://www.investopedia.com/terms/c...indertrust.asp To repeat, this is not DIY territory.
OldShooter is offline   Reply With Quote
Old 11-19-2019, 11:39 AM   #4
Thinks s/he gets paid by the post
gcgang's Avatar
 
Join Date: Sep 2012
Posts: 1,229
Quote:
Originally Posted by street View Post
Anyone familiar with them or have gifted in this way to your charity list? Not an annuity fan but then again it is for charity, you can receive payments back or gift the amount back again.
I've used several times.

Most charities have software and people on staff who can run the numbers and explain how it works for you.

I made gifts of highly appreciated securities. Depending on how you structure (income you receive and when you receive it) you receive an immediate tax deduction and an income stream. The longer you wait to get the income the larger your deduction.

It's especially useful if your security is going to be cashed out/taken over.

Our state (Montana) even had an additional tax credit for such gifts to in state endowments.

Sometimes the numbers can actually make giving a better financial situation for the donor than selling, paying tax, and reinvesting.
gcgang is offline   Reply With Quote
Old 11-19-2019, 07:02 PM   #5
Thinks s/he gets paid by the post
street's Avatar
 
Join Date: Nov 2016
Posts: 2,729
Thanks for your input and knowledge on gifting as an annuity. I beleive I will do one of them and it sounds like a nice way to give. You are correct there is a state tax credit for this type of gifting.

Thanks
street is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Charitable Remainder Trusts/Charitable Gift Annuities friar1610 FIRE and Money 4 10-12-2010 12:40 AM
Any experience with charitable gift accounts? ziggy29 FIRE and Money 20 08-31-2010 04:06 PM
Charitable Gift Annuities Voyager FIRE and Money 4 12-07-2009 10:59 AM
Charitable Gift Funds John Tuttle FIRE and Money 1 10-18-2006 06:58 PM
Charitable donations pre- and post-FI/RE peteyperson Life after FIRE 83 09-29-2005 10:51 PM

» Quick Links

 
All times are GMT -6. The time now is 07:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×