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A charitable remainder annuity is a way to make an irrevocable gift to the University of Michigan, receive some immediate tax benefits and still receive annual income distributions from the assets during your lifetime(s). Upon the death of the last beneficiary, the trust principal becomes the University's and will be used according to your specified instructions. A charitable remainder annuity trust is most attractive to people who want a fixed distribution. Each year the trust will distribute the payout amount determined at the time the trust is established. This amount is paid every year for the life of the beneficiary (ies), regardless of whether the trust grows or declines in value, as long as the trust is solvent.
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