Commercial annuities
Annuity contracts issued by insurance companies can sometimes be used to make gifts that benefit Medical Teams International.
Usually, it is best to arrange for a beneficiary designation that will result in Medical Teams International receiving some or all of any contract value remaining at the end of your life. This is because part of that remaining value can be taxable when received by surviving family members or other individuals, but not when received by Medical Teams International, which is a tax-exempt organization.
In certain circumstances, it can make sense during your lifetime either to draw upon some of the value of an annuity contract or to surrender it entirely in order to have cash you can use to make an outright transfer to Medical Teams International.
A commercial annuity can even be a source of funds to use in establishing a charitable gift annuity.
If you would like additional information, please contact us.
Mary Lee Alder
mlalder@medicalteams.org
(503) 624.1210
| The information on this Web site does not constitute legal, financial, tax or estate planning advice and should not be relied upon as a substitute for such advice. Medical Teams International encourages you to seek the counsel of your own professional advisers and values their involvement as you determine how you would like to proceed. | |