Life Income Plans

Overview:

You can make a substantial gift to Florida Christian College while still earning income from the donated assets. Life income plans are some of the most flexible and fruitful options available to donors. They allow you to (1) provide income for yourself, your heirs, or both; (2) avoid significant capital gains and estate taxes; and (3) satisfy your wish to make a substantial gift to FCC.

Please email Bill Behrman or call him at 407-569-1164 if you have further questions about setting up a life income plan through Florida Christian College .

This is how it works: You fund the trust with a significant, irrevocable gift to Florida Christian College to benefit future kingdom workers. (The gift must be irrevocable to qualify for the federal charitable deduction.) The College invests the gift, and you or your designee (s) receive income for as long as you choose: for a definite term of not more than 20 years, or for the rest of your life . At the end of that time, the remaining principal benefits the College in whatever way you specify.

You may establish a trust using assets such as real estate, stock, or cash . Funding it with appreciated long-term property enables you to protect your profit or reinvest for a higher yield, while avoiding capital gains taxes. You thereby maximize the value and the benefit of the property, both as income and as a gift.

There are two basic types of life income trusts: annuity trusts and unitrusts.

•  Annuity trust
•  pays a fixed dollar amount
•  your income will be the same each year, regardless of the value of the trust
•  Unitrust
•  pays a fixed percentage
•  your annual income will go up or down as the value of the trust itself fluctuates