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A life income
gift can not only help SoSA, can also
provide an income to you
during life and benefit your heirs. Here are some of the
bequests and life income gift
options available:
-
Charitable Gift
Annuity: The most common of gifts
that provide income back to
the donor or other
beneficiary. It guarantees a
fixed income in exchange for
a gift.
-
Pooled Income Funds: Similar to a mutual fund,
however the donor may not
make withdrawals but
receives quarterly payments
for life.
-
Charitable Remainder Trusts: Gifts are placed irrevocably
in trust with the named beneficiary receiving a
fixed or variable income for
life or a term of years not
to exceed 20.
-
Non-Grantor Lead Trusts: Provides income to the
charity and the principal to
the giver's heirs.
-
Bargain Sale: The
deliberate sale of an asset
(usually real estate) for
less than the appraised
value, providing significant
tax deduction benefits.
-
Gift of Residence With
Retained Life Use: Provides tax deduction
benefit as well as relieves
the donor of concern about
how the home will be managed
after death. The donor can
make a substantial gift but
not experience a change in
lifestyle.
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Bequest: Gifts made in a
will, which can be made in
honor or in memory of
someone or for a specific
purpose. All of the gifts
mentioned above can be also
made by bequest in a will.
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