A kind of present trade where an individual transfers assets into a charity in exchange to get an eternity annuity as well as a tax benefit. As with any life annuity, when the beneficiary dies, the annuity payments are stopped, as well as the remaining funds are retained by the charity. In an average charitable gift annuity, the annuity payouts aren"t restricted to the assets that were provided, though the actuarial computations creating payout numbers generally supply a substantial residual number should stay following the beneficiary"s departure for the charity.