Income for Today, a Legacy for Tomorrow
- January 25, 2022
If you’re interested in donating to charity but are concerned with how this gifting strategy might affect your income throughout retirement, a Charitable Gift Annuity (CGA) may be a viable option. Through a Charitable Gift Annuity, a donor, which can be you, an organization (such as a trust), or two people (such as spouses) transfers a large gift to a charity in an exchange for an annuity that will provide lifetime income to the donor and their named beneficiary.
Key Benefits
Income for Life.
CGAs will provide the donor and their beneficiary with lifetime income.
Legacy Protection.
Donations to a CGA are irrevocable; assets placed in this gifting strategy cannot be revoked by the donor. In addition, creditors cannot collect funds from the annuity, safeguarding both your donation to the charity and the lifetime income payments you will receive.
Tax Deductions.
CGA gift donations are irrevocable, assets placed in them will be excluded from your overall estate. They also offer an immediate tax deductions in the year the gift is made.
Provide long-term support for a cause you cherish.
Your intentions will be long lasting, any remaining assets in a CGA upon your death will be passed to the charity or nonprofit organization.
Consider giving the gift that will provide income today, and a legacy for tomorrow
DISCLOSURE
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The information contained herein is general in nature, has been obtained from various sources believed to be reliable and is subject to changes in the Internal Revenue Code, as well as other areas of law. This material is for informational purposes only and should not be construed as a solicitation of any particular insurance product or insurance carrier. Insurance is sold through Oppenheimer Life Agency, Ltd. (OLA), an indirect wholly owned subsidiary of Oppenheimer Holdings. Before purchasing a policy of insurance, please review both the insurance carrier and the insurance policy carefully before investing. A strategic alli-ance exists between OLA and various outside providers whereby products and services may be utilized. Such providers may receive compensation as a result of the strategic alliance. However, the firms are completely independent of each other. This material is not a recommendation as defined in Regulation Best Interest adopted by the Securities and Exchange Commission. It is provided to you after you have received Form CRS, Regulation Best Interest disclosure and other materials. Oppenheimer & Co. Inc. Transacts Business on all Principal Exchanges and Member SIPC 3948533.1