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YOUR MONEY; Charitable annuities; Before setting up an irrevocable annuity, it's a good idea to get professional estate-planning assistance.(BUSINESS)
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Star Tribune (Minneapolis, MN)
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September 30, 2007
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Copyright informationCOPYRIGHT 2007 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Chris Farrell
Q. How do single-premium immediate annuities compare with charitable annuities that pay interest that increases with age and have tax advantages?
A. I recently went into the reasons why many retirees should at least consider adding single-premium immediate annuities to their portfolios. While certainly not for everyone, an immediate annuity can bring financial security to monthly cash flows.
The same goes for charitable gift annuities. Indeed, a charitable gift annuity is a three-for-one investment: You support a charity. You get some nice tax breaks. And you can set up a steady stream of income for life.
That said, there are many ...