Doing Good and Doing Well
Employing reverse mortgages and gift annuities can help planned-giving officers guide elderly donors into mutually beneficial arrangements.
In addition to the charitable component of the CRT, the ILIT carries a built-in tax advantage: Life insurance proceeds are not taxed as income.
This example joins a charitable device and a financial device to create a gift-planning strategy where one didn’t exist before.
This article should offer yet another example of combining an existing charitable device — a Gift Annuity (GA) — with an existing financial device — a Reverse Mortgage (RM). Before continuing, a brief review of GAs and RMs may be in order.
- People:
- Steffan F. Cress
- Places:
- Tampa, Fla.
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