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Plan for Retirement With a Deferred Gift Annuity.pdf

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Extra Income Later, When You Need It Most How It Works You make a contribution to us now of cash or appreciated property you have owned longer than one year, and we agree to pay you fixed payments for the rest of your life starting at any date you select that is at least one year from now. The rate used to determine the amount of the payments is based on the age of the annuitant on the date the payments begin and the length of time from the creation of the annuity to the first annuity payment. The older the annuitant and the longer the deferral, the higher the rate of the annual annuity payments. On the next page you will see rates recommended by the American Council on Gift Annuities, which most organizations follow. Check with your estate planning attorney or our representative for current rates and applicable ages for gift annuity eligibility according to our most current policies. If you're looking for ways to support Mayo Clinic and prepare for your retirement, a deferred charitable gift annuity may be your answer. annuitant: the person receiving the gift annuity payments fair market value: the price a willing buyer and a willing seller can agree on capital gain: the growth in value of an asset like stock or real estate since the original purchase cost basis: the original value of an asset, such as stock, before its appreciation or depreciation

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