If you are not familiar with the term life income agreements, think of it as giving your money to a specific cause and having it too. Life income agreement is a term that includes charitable gift annuities and charitable remainder trusts. These gifts work like this:

If you are 62 years or older, you can give SBF $3,000 or more (the minimum gift to establish a charitable gift annuity). You and/or a second beneficiary will receive income for life from your gift. After the beneficiaries are no longer living, your gift will be used for the purpose you have specified. If you are under 62, the deferred gift annuity is a great opportunity.

The Gift Planning Calculator may help you better understand your options for life income agreements and/or other types of planned giving.

Advantages of a life income agreement:
If you give low-yielding securities, you may actually increase your current income.
If you give appreciated securities owned for more than 12 months, you may avoid capital gains taxes.
You will receive an immediate income tax charitable deduction.
You may reduce your estate taxes.

Types of life income agreements:
Charitable Gift Annuities
Deferred Gift Annuities
Charitable Remainder Trusts