Charitable gift annuities and charitable remainder trusts provide a gift to Reno Phil, income for life, favorable tax treatments, and other benefits.
A charitable gift annuity is a simple contract between you and a charity. A portion of the income you receive for life is free of tax. Annuities work best for those 70 and older – the older you are when making this type of gift, the more income you receive.
Charitable remainder trusts are similar to annuities, and are also more complex. The Reno Phil can provide you information about each of these gifts and their many options.