Give and Get Income
He who obtains has little. He who scatters has much.
The Gift that Pays You
Did you know that you can make a gift that will pay a
lifelong income to you or someone you love? Gift annuities are a
simple way to ensure an income that is guaranteed.
Here is how it works. You decide how much you would like to
give to Westchester Community College Foundation (gift annuities
start at $10,000) and decide one or two people who will receive
regular payments for the rest of their lives.
Payout rates are based on the age of the person (or people)
receiving payments. Once you have created an annuity, you lock
in a rate that will never change.
You can choose to have the gift annuity payments go directly
to a bank account, so there is no need to even deposit a check.
Gift annuity payments are a great way to supplement income
for an aging parent. Of course, you can also choose to receive
annuity payments yourself or with your spouse.
You can also get several tax benefits. You will get an
immediate income tax deduction for the gift portion of the
annuity. And, if you use appreciated assets to create the
annuity, you can reduce the capital gains taxes. A portion of
the payments may even be tax free. As always, consult with your
tax advisor for professional guidance.
We are glad to talk with you and give you specific
information based on your situation. There is no obligation, and
we will keep your conversation confidential. Call Linda
Champanier at 914-606-6804 to find out more.
Westchester Community College Foundation does not
offer legal, financial or tax advice. When considering any gift
plan, always consult with your financial and legal advisors.