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Life Income Gift
If you wish to make a substantial gift but you wish to receive some income for the property, you might consider a charitable trust in which you irrevocably transfer cash or property to a trustee. The trustee in turn will distribute a certain percentage or amount of the annual income available from the assets back to you or Jaylens Challenge Foundation,Inc.
Those payments can continue for your life, or for a specified term of years. The remainder interest in the property would then pass to the foundation. You would be entitled to an income tax deduction for the value of that charitable remainder interest, based on the number and ages of the life income beneficiaries and the percentage of income payments you and the trustee agreed upon.
Types include Charitable Gift Annuities (CGA), Charitable Remainder Trusts (CRT), and Charitable Lead Trusts (CLT).
Making a significant gift to Jaylens Challenge Foundation, Inc. or to any charity requires great care. Before you make any decisions, please consult with your financial advisor or attorney. If you would like assistance in finding an attorney or helpful information about creating a will, call us at 863-370-0984 and ask for Robin Holt Eckelberger, Executive Director.