What are examples of life income plans?
Charitable Gift Annuity In exchange for your gift of cash or marketable securities to Happy Hill Farm Academy, we agree to pay you (and a survivor or other beneficiary) a fixed amount annually for your lifetime. The transfer is part gift and part purchase of an annuity. The rate of return is attractive and the payments are guaranteed for life. If you wish, you may defer the charitable gift annuity. You can make the gift now, and Happy Hill Farm will pay you (and another beneficiary, if you wish) life income starting at any date you specify. This is a great option if you are concerned about retirement income. Also, you receive the income tax deduction in the year you make the gift. The amount you receive each year depends on the amount transferred, your age now, and your age when the payments are to start. Charitable Remainder Trust This life income plan is created by transferring assets to a trust that pays you (and another beneficiary, if you wish) income for life. At the end of the t
