Life Income Plans- Provide you with extra income
Charitable Remainder Trust - Funding a charitable remainder trust with appreciated assets entitles you and your beneficiary to income from the assets for the rest of your lives. You may also designate SBU as recipient of the principal after your deaths.
Capital gains tax is eliminated when appreciated assets placed in a trust are sold. In addition, you are entitled to an immediate income tax charitable deduction on your itemized income tax return, based on the full fair market value of the asset. An estate tax charitable deduction is available at your death.
Gift Annuity - Funding a gift annuity with appreciated assets allows you to receive a fixed income for life, an immediate charitable tax deduction, and an excellent annuity rate. Capital gains tax can be reduced and spread out over your life expectancy. (Gift annuities can only be funded with cash and publicly-traded securities.)
To ensure additional income during retirement years, you may establish a deferred gift annuity which delays annuity payments until a later date and offers an even higher rate than a regular gift annuity.
