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Looking after a spouse while helping fellow veterans in need: gift annuities provide a way to do both.

Homer Middaugh is a 21-year Navy veteran who went on to work 23 more years as a civilian for the Navy. You might say he had already given enough to his country, considering he took part in three World War II invasions and a blockade during the Korean War, spent several years in Vietnam as a civilian and made many a move between. But for Middaugh, less-fortunate veterans were always in his thoughts, so he was on the lookout for something he could do to make their lives a little easier.

"I wanted to make sure my wife was well taken care of, but I also wanted to help my fellow vets," Middaugh said. "I picked up the DAV Magazine one day and read about gift annuities [offered by the DAV Charitable Service Trust] and decided that was a good way to do both. Everyone knows the government is mighty slow coming to veterans' aid, so I decided this was a way I could help."

Middaugh and his wife Masae liked the program enough that they decided to take out a second gift annuity soon after their first. They received a substantial charitable deduction with each annuity and immediately began to receive generous fixed payments--largely tax-free for a number of years--for as long as Middaugh lives, then for as long as his wife lives as a survivor. At the end, what remains of what they gave to fund their gift annuities will help less-fortunate veterans, which is exactly what Middaugh had in mind.

If, like the Middaughs, you would like to help less-fortunate veterans while also looking after yourself and a loved one over the age of 60, contact us today about taking out your own Charitable Gift Annuity through the Trust. A member of our staff would be happy to send you an illustration and discuss your personal options. With a gift of $10,000 or more, you can receive generous fixed payments for life while also leaving a legacy of hope and compassion for the deserving men and women who have sacrificed so much for us.

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Publication:DAV Magazine
Date:Nov 1, 2016
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