CD Transfer Program

Do you own a bank CD?

  • Are you satisfied with your current CD rate?
  • Would you like to generate a higher tax-advantaged income?
  • Do you want to save money on your taxes?

Our CD Transfer Program provides these benefits:

  • Immediate income tax deduction
  • Fixed tax-favored income for life or a specified number of years
  • Immediate or deferred income payments
  • Reduction or elimination of applicable estate tax
  • Reinsurance on most transactions
  • The ability to support your favorite charities and other charitable causes worldwide

Charles and Helen Barker, ages 75 and 74, are unhappy with their CD earnings. Their CD is valued at $100,000 and is currently earning 3% – all of which is taxable each year. Charles and Helen can transfer all or a portion of their CD to a Charitable Gift Annuity (CGA).

They would earn more income by transferring $50,000 of their CD to a CGA than they were previously earning from the entire $100,000 in their CD. By transferring only half of their CD to a CGA, they also have the comfort of retaining $50,000 in their current CD.

Asset Value $100,000 $50,000
Annual Rate 3% interest rate 6.3% payout rate
Annual Payout $3,000 $3,150
After Tax Net Payout $2,250 $2,883
Income Tax Deduction $0 $14,827
Tax Savings $0 $3,707
Principal Remains in estate Removed from taxable estate

Return to Charitable Family and Legacy Planning