These forms of giving allow tax benefits and deductions as well:
- INCOME GIFTS: A lifetime income gift, such as a charitable gift annuity or charitable remainder trust, can provide you with fixed payments for life. You can receive tax benefits and deductions as well.
- NONGRANTOR LEAD TRUST: Nongrantor lead trusts support The Pontifical Mission Societies and allow your family to receive the asset with a significantly reduced tax liability.
- RETAINED LIFE ESTATE: You can give a personal residence to The Pontifical Mission Societies but continue to live in it or rent it out during your lifetime. The property is removed from your taxable estate and you receive an immediate federal income tax deduction.