The Charitable Gift Annuity
Immediate Payment
How Does It Work
- Transfer cash or other property to the Georgia Tech Foundation
- The Georgia Tech Foundation guarantees to make lifetime payments for up to two annuitants
Benefits
- Guaranteed payments for life that are favorably taxed
- When gift is funded with cash, part of payment will be tax-free
- When gift is funded with appreciated stock, part will be taxed as capital gain, part can be tax-free, and part will be taxed as ordinary income
- Federal income-tax deduction for a portion of your gift
- Gift will provide generous support for Georgia Tech
Please note: Because the federal estate tax has been repealed for 2010, there is no current estate tax in 2010 for the gifts described on this page. However, the consensus opinion among professionals is that Congress will enact an estate-tax law that may be retroactive to January 1, 2010. It is very important that you seek the advice of your estate-planning attorney to determine what changes, if any, need to be made to your existing estate plans, and then again if Congress reinstates the estate tax sometime later this year.
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