John consults a CFP professional for estate planning advice. He is 46 years old and has a son, Randy, who is 7. John wants to establish an arrangement that will pay his favorite charity an annual income for 14 years until Randy turns 21, and then terminate and pay Randy a lump sum. He is willing to contribute $1 million to fund this arrangement. If possible, he would like to receive an income tax charitable deduction at the inception of the arrangement. Which of the following recommendations is most suitable for achieving John's objectives? Charitable gift annuity. Pooled income fund. Charitable lead trust (CLT). Smy Charitable remainder annuity trust (CRAT). Page 5 of 21

John consults a CFP professional for estate planning advice. He is 46 years old and has a son, Randy, who is 7. John wants to establish an arrangement that will pay his favorite charity an annual income for 14 years until Randy turns 21 , and then terminate and pay Randy a lump sum. He is willing to contribute $1 million to fund this arrangement. If possible, he would like to receive an income tax charitable deduction at the inception of the arrangement. Which of the following recommendations is most suitable for achieving John's objectives? Charitable gift annuity. Pooled income fund. Charitable lead trust (CLT). Charitable remainder annuity trust (CRAT)