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Annuities and Trusts

Planned Giving

Charitable Gift Annuities

With a Charitable Gift Annuity, you transfer cash or appreciated property to LMM and in return, you receive fixed payments for the rest of your life (rates are determined by your age). It’s a meaningful way to align your financial goals with your commitment to LMM’s mission.

  • Lifetime Income: Receive dependable, fixed payments for life, unaffected by market fluctuations.
  • Tax Advantages: Enjoy potential income tax deductions and a portion of the income payments may be tax-free.
  • Support LMM: Ensure your legacy impacts vulnerable individuals and strengthens LMM’s mission.
  1. You donate cash, securities, or other assets to LMM.
    • The minimum gift anticipated for funding a charitable gift annuity is $10,000.
  2. In return, LMM agrees to pay you (and a secondary beneficiary, if applicable) a fixed annual income for life. The payment amount is based on your age at the time of the gift.
    • The minimum age for life income beneficiaries of a gift annuity is 62.
    • The payout of gift annuities can begin immediately, or it can be deferred for a predetermined number of years
    • Where a deferred gift annuity is offered, the minimum age for life income beneficiaries shall be 55
    • No more than two life income beneficiaries will be permitted for any gift annuity.
  3. After your lifetime, the remaining funds from your gift are used to support LMM’s programs and services.

Charitable Remainder Trust

A Charitable Remainder Trust (CRT) is an irrevocable trust that allows you to provide income for yourself or loved ones while making a significant future gift to LMM. It’s an excellent way to support LMM’s mission while enjoying financial and tax benefits.

  • Charitable Remainder Annuity Trusts (CRATs): Distribute a fixed annuity amount each year. Additional contributions are not allowed after trust is formed.
  • Charitable Remainder Unitrusts (CRUTs): Distribute a fixed percentage based on the balance of the trust assets (revalued annually). Unlike CRATs, additional contributions can be made.
  • Steady Income: Receive income for yourself or loved ones while supporting LMM.
  • Tax Advantages: Enjoy immediate income tax deductions and potential capital gains tax savings when funding the trust with appreciated assets.
  • Estate Planning: Reduce estate taxes and create a legacy of impact for LMM.
  • Flexible Structure: Customize the trust to meet your financial and philanthropic goals.
  1. Establish the Trust: You transfer assets (cash, securities, property) into the trust.
  2. Receive Fixed Income: The trust pays you or other beneficiaries either a fixed dollar amount annualy, based on a percentage of the initial value of the assets (CRAT) or a fixed percentage based on the balance of the trust assets, revalued annually (CRUT).
  3. Support LMM: After the trust term ends (often at your passing or after a set number of years), the remaining assets go to LMM to support our mission.

Charitable Lead Trust

A Charitable Lead Trust (CLT) provides financial support for LMM now, while reducing the tax cost in transferring assets to beneficiaries in the future.

A lead trust holds assets for a lifetime or for a term of years and pays annual income to benefit LMM with remaining assets eventually going to family or other beneficiaries. LMM may accept a designation as income beneficiary of a charitable lead trust, but will not accept an appointment as Trustee of a charitable lead trust.

  • Immediate Impact: Your gift supports LMM’s mission right away, helping individuals and communities in need.
  • Tax Advantages: Potentially reduce estate or gift taxes while preserving wealth for your heirs.
  1. Establish the Trust: You transfer assets (cash, securities, property) into the CLT.
  2. Support LMM: The trust makes regular payments to LMM for a specified number of years.
  3. Distribute Remaining Assets: When the trust term ends, the remaining assets are passed to your beneficiaries, often with reduced gift or estate taxes.

A Charitable Lead Trust is not tax-exempt; its income is taxed in the same manner as the income of any other complex or grantor trust. Establishing a charitable lead trust requires careful legal setup and often involves ongoing maintenance costs. Thoughtful planning is essential to ensure that the trust can fulfill its required payments throughout its term. Additionally, a charitable lead trust is irrevocable, meaning that once it is established, its terms cannot be modified or revoked.

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