Working with an Annuitant to Assign their Annuity Interest to Your Organization

An annuitant who concludes that he or she no longer needs the annuity payments – and won’t need them in the future either – could choose to assign to the charity the right to all future payments. If it is irrevocable, the assignment effectively terminates the annuity. When this happens, the annuitant may receive a charitable deduction for contributing her remaining interest in the annuity.