Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

charitable gift annuity

Read a random definition: fiscus

A quick definition of charitable gift annuity:

A charitable gift annuity is an agreement between a person and a charity. The person gives money to the charity and in return, the charity pays them a fixed amount of money every year for the rest of their life. If there is any money left over when the person passes away, the charity gets to keep it. This type of annuity can also help the person pay less in taxes.

A more thorough explanation:

A charitable gift annuity is a type of annuity agreement between an individual and a charity that has been approved by the government. The individual pays a sum of money to the charity, and in return, the charity provides regular payments to the individual for the rest of their life. The amount of the payments is based on the individual's age and the amount of the contribution.

For example, let's say that John wants to make a donation to a charity. He decides to set up a charitable gift annuity with the charity, and he contributes $50,000. The charity agrees to pay John $3,000 per year for the rest of his life. If John lives for another 20 years, he will receive a total of $60,000 in payments from the charity.

One of the unique features of a charitable gift annuity is that the charity will receive any remaining assets after the individual passes away. For example, if John were to pass away after receiving $40,000 in payments, the charity would receive the remaining $10,000.

In addition to providing a regular income stream, a charitable gift annuity can also provide tax benefits for the individual. By making a charitable donation, the individual may be able to reduce their income and capital gains taxes.

charitable contribution | charitable lead trust

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.