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: The federal estate tax is currently back in effect through the end of 2012. The top tax rate is now 35%, and the exclusion amount is $5,120,000 per person and $10,240,000 per married couple. Any exclusion amount not used by a spouse who dies after December 31, 2010, is portable and generally may be used by the surviving spouse. 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.