Pet Therapy Charitable Gift Annuity
A charitable gift annuity is a contract between a charity and a donor that allows the donor to transfer cash (or other assets) to the charity in exchange for a partial tax deduction and a monthly stream of income back to the donor. A percentage of the total charitable gift annuity, determined by the donor’s age, then provides monthly income back to the living donor. Upon one’s passing, Latham Lifelong Pet Care retains the residual gift.
The annuity option offers:
- a competitive and attractive payout rate, while controlling money as one ages – provides partially tax free income
- the opportunity to make annual tax-deductible donations to a charity
- an option to create security for a pet within Latham Lifelong Pet Care, while contributing to the entirety of Latham Lifelong Pet Care
- security that pets will be cared for by Latham after owner passes
- a minimum gift of $10,000
An example of a Pet Therapy Charitable Gift Annuity with Latham Centers can be seen in the image to the right.
A Pet Trust is a document written in conjunction with an individual’s Last Will and Testament. Latham Centers is named as the Trustee of the pet trust. Latham, as Trustee, will then appoint a Caretaker for one’s pet. The Grantor (Trustor) may also name a Trust Protector who will ensure, along with Latham Staff that a pet owner’s wishes are carried out. Pet trusts are often funded by, but not limited to, directed transfers of funds or properties, life insurance, and certain retirement plans. The funds in your pet trust may only be used by Latham Lifelong Pet Care as directed. In drawing up a formal and binding Pet Trust recognized by the Commonwealth of Massachusetts, Latham Centers can be named as a Trustee of the lifelong care of your pet.
We propose the option of establishing a Charitable Gift Annuity, in conjunction with a pet trust, to finance long-term and lifelong pet care. This option could also be applied to potential donors who do not have a pet to leave Latham, but who wish to take advantage of this investment option, while positively impacting our pet programs into the future.
There is no time like the present. Latham Centers welcomes you to tour our facilities and meet with residents who will become integral parts of your pet’s life. It could be one of the best decisions you ever made.