Doing Good and Doing Well
Employing reverse mortgages and gift annuities can help planned-giving officers guide elderly donors into mutually beneficial arrangements.
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The benefits
As previously mentioned, RMs and GAs have a number of complementary features and benefits. At the risk of repeating a few, here’s a breakdown:
* They both are senior-friendly. By law, RMs can’t be contracted with a homeowner who isn’t at least 62. The older they are, the greater the RM payout. Since GA rates are actuarially governed, the older the donor, the greater the rate and the subsequent payout.
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- People:
- Steffan F. Cress
- Places:
- Tampa, Fla.
Steffan F. Cress
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