The chart on the next page shows suggested rates of payment for a single-life gift annuity. In this arrangement, payments are made to one annuitant and they continue to a designated survivor after the first annuitant's death. A two-life charitable gift annuity is useful, for example, when you want to make a gift to us but need to retain the income from the donated assets for your life and then for the life of your spouse. The agreement specified that payments were to be made to him for his life and, upon his death, to his surviving wife. At the time the annuity was established, Mrs. Branch was 65.
Every financial plan has certain basic objectives.
There are many practical tools and opportunities to be considered in developing your plan. This deduction is available the year the gift is made. If you cannot use the entire deduction in a single year, you may carry over any excess for a maximum of five years. The deduction is immediate, even if the payment of the annuity income is deferred for several years. This is an important feature for donors who want to create a gift annuity and obtain an income tax deduction in their high-income years, and defer the annuity payments until years when their income may be lower.