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If
you are not familiar with the term life income agreements, think
of it as giving your money to New Orleans Baptist Theological
Seminary and having it too. Life income agreement is a term
that includes charitable
gift annuities and charitable remainder trusts. These
gifts may be revocable or irrevocable and work like this:
If
you are 62 years or older, you can give NOBTS $10,000 or more
(the minimum gift to establish a charitable gift annuity). You
and/or a second beneficiary will receive income for
life from your gift. After the beneficiaries are no longer
living, your gift will be used by the Seminary for the purpose
you have specified. If you are under 62, the deferred
gift annuity is a great opportunity.
The Online
Gift Planning Calculator may
help you better understand your options for life income agreements
and/or other types of planned giving.
Advantages
of a life income agreement:
| a |
You
will receive income for life. |
| a |
If
you give low-yielding securities, you may actually increase
your current income. |
| a |
If
you give appreciated securities owned for more than 12 months,
you may avoid capital gains taxes. |
| a |
You
will receive an immediate income tax charitable deduction. |
| a |
You
may reduce your estate taxes. |
| a |
You
will be supporting the training of men and women for full-time
Christian ministry. |
| a |
You
will be enrolled in the Dement
Society. |
Types
of life income agreements:
For
Additional Information
See
chart comparing the features of life income agreements.
To request additional information on life income agreements or
to receive specific examples, call the Office of Development at
1-800-662-8701 or send e-mail to the Office
of Development.
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The information contained herein is intended to provide general
information, not legal or tax advice about a specific situation
or problem. Always consult a lawyer or tax accountant if
you have legal or tax matters which require attention.
»Visit
our Giftlaw section for professional
financial planners.
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