Max Bennett Annuity Story
This firm belief that education is the key to a brighter future for both the students who receive the education and the communities they improve is why they have contributed regularly to scholarships and other projects led by the Eastern Arizona College Foundation.
Mr. Bennett also learned about how the charitable gift annuity can be a great tool to meet some of his goals as well as provide scholarship assistance to students in the future.
"The charitable gift annuity was great for me and the school," Max explained. "I was able to lock in a good return to cover some basic expenses I wanted to meet. I wanted income that was tax free and the tax deduction was very helpful in keeping Uncle Sam from taking so much of my retirement income."
"This works well for the school also, because students will benefit from my wife's memorial scholarship."
The gift annuity was simple for Max to establish and now a monthly check is deposited into his checking account. Only a portion of the money he receives is taxable and he'll receive a guaranteed amount for the remainder of his life.
Max Bennett and the recipient of the Clara Curtis Bennett Memorial Scholarship, Deidre Hancock. Mr. Bennett has already started an annually funded scholarship. He's using a charitable gift annuity as part of his estate plan to endow his wife's memorial scholarship so it will continue in perpetuity when he passes away.