Life Income Gifts - Gifts that Give Back
July 01, 2010 | By: Ray Barr, Planned Giving Manager
“I’d like to make a gift to Hospice of the Comforter, but I don’t have the income to do that. What can I do?”
Consider a ‘life income gift.’ Here’s how this innovative strategy works:
1. You make a gift to Hospice of the Comforter, typically with cash, expiring CDs, stocks, bonds or mutual funds.
2. In exchange, you and/or your spouse receive income payments for life.
3. After the payments are complete, the balance of the gift supports Hospice of the Comforter.
In addition to the lifetime income stream, there are also tax benefits. You create a charitable income tax deduction for making the gift. Often, a portion of the income paid to you will be tax free or at a reduced tax rate.
Best of all, your gift will provide care for future patients and families in need of Hospice of the Comforter’s services.
If a life income gift sounds appealing to you, please contact our Planned Giving Manager Ray Barr, at 407-379-0190. He can help you select the life income gift program that’s right for you and your family.