One way to make this type of gift is through a Life Income Agreement. Your gift passes to mission only after you and others named as beneficiaries are gone. You receive guaranteed fixed income for life. Part of the gift qualifies for an income tax deduction in the year it is made and, in most cases, a portion of each payment will be tax free. You name who will receive income for life.
Income is based on the trust's value each year.
Income will fluctuate annually with the fair market value of the trust. You name who will receive income for life. Income is based on the trust's initial value. Annuity trusts are also irrevocable making their tax benefits very appealing. You enjoy tax savings and sound investment experience.