What Are Charitable Annuities?

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    David RacichPRO
    Fountain Hills, Arizona
    A Charitable Annuity is a Charitable Gift Annuity, an insurance product used estate planning for those benevolent grantors who have charitable intentions and seek tax advantaged income. It involves a contract between a grantor/donor and a charity.  The grantor gifts cash or other assets to an IRS approved nonprofit charity, receives for a partial tax deduction and a lifetime annual income from the charity. When the grantor/donor dies, the charity keeps the gift.
      
    Answered on May 26, 2013
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