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| I Have Never Missed a Payment From My Annuity |
I Have Never Missed a Payment From My Annuity for the Past Fifteen Years!
Arthur and Lillian wanted to make a gift to the Lord's work, but they needed income to live on. Arthur was a very successful dentist and had retired in Auburn. When the time came that he and his wife Lillian were "tired of cooking and cleaning" they made arrangements to move to independant retirement living. A call to the Northern California Conference and a visit from their Planned Giving Consultant was all that was needed to have the Trust and Property Management Department take care of the sale of their home and put the proceeds from the sale of their home in Auburn into a Charitable Gift Annuity." I was in the 28% tax bracket, and this first annuity paid out 7.8% with an Effective Equivalent Annuity Rate of 10.7%. The charitable tax deduction that first year was almost 50% of the value of my home, and I have continued through these years to receive a portion of my income tax free! This year all of my original annuity will be ordinary income, because I've lived longer that the IRS actuary tables said that should live!
"We wanted income from our nest egg, and it made sense to put our equity money into an two life gift annuity that would pay us a fixed amount for the rest of our lives. Even if one of us passed away, the other would still have the same income for the rest of the remainder's life," states Arthur. His beloved wife Lillian passed away in July of 1997, but Arthur continues to receive monthly income for rest of his life because they took out a two-life annuity.
For the last 15 years I have been receiving a check from the Northern California Conference and each check has been on time except one. That one was misplaced by the postman in the wrong box, and when my check didn't come, Clyde, my Planned Giving Consultant from the Northern California Conference made sure that I had a replacement check in just a few days. Later the lost check was found, and was determined that it had been misplaced by the Postal Service." Since that first annuity made in 1989 Arthur has made a total of seven annuities. "Where the banks are paying from 1-2% and I can get 11:3%," states Arthur, "it really makes sense to have a Charitable Gift Annuity!"
For more information please select one of the following options:
1. If you would like to view a color presentation of a plan similar to Arthur and Lillian's please click one of these buttons.
2. If you would like to see your payout rate based on your age and value of your stock, then click here.
3. If you would like to request a printed illustration of a gift annuity with your payout rate, then click here.
4. You may print a gift annuity tri-fold brochure. Click Here.
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