Deferred or life-income gifts

Gift annuity

A charitable gift annuity (CGA) is an agreement in which the Land Conservancy agrees to pay you – or you and your spouse – a lifetime of income in exchange for a gift.  At the time the gift is made, the payment is fixed. It can be paid to you monthly, quarterly, twice yearly or annually.

There are several different types of gift annuities.  They can be:

  • Deferred.  The longer the payment is deferred, the higher the payment will be;
  • Commuted. This means the payment is deferred for at least one year, and then payments are made in a specific timeframe, such as for a child’s education; or
  • Flexible deferred.  In this instance, payments are deferred for at least one year, then activated at some point in the future, such as for retirement.
Charitable remainder trust

A charitable remainder trust (CRT) is typically used when there is more than one beneficiary.  In exchange for a gift, a CRT can provide income to you, you and your spouse or your entire family for life or for a specified period of years.  Payments can be fixed (annuity trust) or variable, based on the year-end market value of the trust (unitrust).

Charitable lead trust

Are you someone who wishes to make a gift but retain the property in your family? A charitable lead trust (CLT) may appeal to you.  You can establish a lead trust that provides income to Western Reserve Land Conservancy over a set period.  At the end of the trust term, the assets either are returned to your or distributed among your family.  One key advantage of this type of gift is that it can significantly reduce or even eliminate gift or real estate taxes.

Retained life estate

This is a gift plan that allows you to donate your home or farm to Western Reserve Land Conservancy while retaining the right to live in it for the rest of your life.  A gift of the remainder interest in a personal residence provides you with a current charitable deduction and may reduce or eliminate the capital gains tax on the property’s appreciation.  You retain the right to live on the property and continue to be responsible for routine expenses, including maintenance, property taxes, insurance and repairs.

Return to Ways to Give

Contact us

We are happy to work with you to find the giving opportunities that best fit your needs and those of your family.  The gift options included here represent some of the most common means of charitable giving, but there are others you may want to consider.  We encourage you to discuss your giving options with your financial advisor.  In addition, please feel free to ask your financial advisor to contact us at Western Reserve Land Conservancy for more information.