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A Smart Gift to Leave to the Unitarian Universalist Association

Banks and life insurance companies typically sell commercial annuities. They provide the owner with fixed or variable income based on commercial rates of return. Because commercial annuities are subject to income and estate taxes, and for larger estates, federal taxes, they are often considered among the best assets to leave to charity. The best way to give a commercial annuity in support of our values after your lifetime is to name us as beneficiary.

Upon withdrawal, a distribution from a commercial annuity will be subject to federal income tax and applicable state income tax. By naming us as beneficiary, the Unitarian Universalist Association can receive your commercial annuity completely tax-free and any assets contributed to the UUA in this manner will result in a charitable deduction and help reduce any estate tax your estate might incur.

Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.

Discover Gifts That Pay

Your payments depend on your age at the time of the donation. If you are younger than 65, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.