A life income gift is a future gift to Accion that provides you or others with income for a period of time. Your income can be fixed or variable over your lifetime. In addition, you also receive a charitable income tax deduction in the year that you make your gift. And, when the plan ends, the life income gift will benefit Accion’s overall mission or the area at Accion with the greatest need.
A charitable remainder trust is a type of life income gift that provides income to you and/or another beneficiary for life or for a designated number of years. At the end of the trust term, the trust is distributed to Accion. Accion encourages donors to establish charitable remainder trusts with their own financial advisors and name Accion as remainder beneficiary. Likewise, if you currently have a charitable trust, you may be able to add Accion as a remainder beneficiary.
There are two main types of Charitable Remainder Trusts:
Charitable Remainder Unitrust
You establish a trust from which you and/or another beneficiary receive variable annual payments for life and/or a term of years. At the end of the term, the remainder of the trust assets go to Accion for the purposes you designate.
Charitable Remainder Annuity Trusts
You establish a trust from which you and/or other beneficiaries receive annual payments of a fixed dollar amount for life and/or a term of years, after which the remainder of the trust assets pass to Accion for the purposes you designate.
For more information on planned giving, please contact Leslie Theodore at 415.753.3467 or firstname.lastname@example.org.
The examples and information on this page are for illustrative and educational purposes only and should not be considered tax or legal advice. Please consult with your tax or legal advisor before proceeding with your estate or gift planning.