CHARITABLE GIFT ANNUITY
Gift transaction in which an individual transfers his assets to a charity in exchange for a tax benefit and lifetime annuity. Like any lifetime annuity, payments are stopped once the beneficiary passes away, and the charity keeps the remaining funds. In a normal charitable gift annuity, payouts are not limited to the contributed assets. But the computations establishing payout amounts usually allocate a large residual amount should the beneficiary die.
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Thierry Desmarest
Chairman, and former Chief Executive Officer and President of Total, one of the biggest oil and gas firms worldwide. During his tenure, the company ...
Bank Stress Test
Analysis done because of unfavorable economic scenarios that is needed to know if a bank has enough capital with the impact of the development. ...
Interest Rate
The amount charged by a lender to a borrower for using assets. Expressed as a percentage of principal, these are usually noted on an annual basis, ...
Cracking
Method of breaking down a larger product into smaller by-products. Used in the oil and gas industry, this can be accomplished by employing various ...
Quasi-Reorganization
This is a procedure where recapitalization is achieved through the elimination of the deficit that exists and the establishment of a new earned sur ...
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