Life Income Gifts

Charitable Gift Annuity

You transfer cash/securities to Lifeworks. You may designate yourself or someone else to receive fixed income for life. Lifeworks agrees to pay you a fixed sum annually for life. At the end of the income payments, the remaining assets in the trust will be paid to Lifeworks

Part of the income paid to you and your beneficiary(ies) may be tax-free or taxed at the more favorable capital gains tax rate, depending on the asset you use to fund the annuity. The income is based on the age of the income beneficiary(ies) at the time of the gift. At the death of the last income beneficiary, Lifeworks will then use the principal in accordance with the terms of your gift.

Annuities can be established by individuals aged 65 and over and with minimum gifts of $50,000. They may be structured so that your payments begin during the year you make the gift or they may be deferred to a future date so to make you eligible for higher income payments and a larger tax deduction.