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gift annuities

Gift annuities, also referred to as a charitable gift annuities, consist of an agreement between a charity and an individual through which the charity agrees to pay a sum on money in exchange for a transfer of cash or some other form of marketable property. A gift annuity is commonly mislabeled as a form of trust, which it absolutely IS NOT. A gift annuity is simply a contract between 2 parties. It is stipulated that the charity, although permitted to spend some of the annuitants payments immediately, must maintain sufficient monetary reserves to make them able to meet their obligations to their contracted annuitants.

There are numerous differing forms that gift annuities can take, a few of which are as follows:

Immediate Gift Annuities: Annuitant starts receiving payments at the end/beginning of the payment period that immediately follows their contribution.

Deferred Gift Annuities: Annuitant must wait at least 1 year after making their contribution before receiving payments.

Tuition Annuities: Single-life deferred payment until the child reaches age 18 or enters into college. Generally established by parents/grandparents & NOT permitted in state of NY.

Flexible Annuities: In essence this is another deferred payment annuity that allows annuitant to select the payment start date whenever they see fit.

Looking for a more conservative investment vehicle? Consider a FIXED ANNUITY

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