Should You Use a Charitable Gift Annuity? Posted By : J. R. Randolph

A Charitable Gift Annuity is a contract where an individual (called a donor) gives an irrevocable gift of value (cash or other asset) to a qualified charity and in return receives a charitable tax deduction. For this gift, the charity agrees to make a payment of a fixed amount of money to the donor(s) for the remainder of their lifetime. These annuity payments are not considered "income" and a portion of each payment is considered to be a partial tax-free return of the donor's gift, which is spread over the donor's lifetime. The gift becomes a part of the charity's assets and the payments are a general obligation of the charity. The annuity is not just backed by the value of the contribution, but is backed by the charity's entire asset base. When the donation is in the form of securities, the value is determined by the fair market value on the date of the gift.

HBOS eyes property group Quintain: paper

LONDON (Reuters) - Britain's biggest mortgage lender, HBOS Plc , is in the early stages of planning a 1.2 billion pound ($2.44 billion) takeover bid for property group Quintain Estates & Development Plc , The Sunday Times reported.