I have been waiting for around 20 years for this!!! (Back in 2002, I already had marketing templates ready to go to promote these!!!).
Here is are links to PGCalc’s summary posts on this big Planned Giving news:
In short, donors age 70.5 and older will be able to establish CGAs (CRTs are less likely) for up to $50,000 each year from their IRA accounts – no tax as a distribution and it counts towards your RMD!! All income received from these annuities will be 100% ordinary income and the donor will not receive a charitable deduction.
I think this is an amazing turn of events for the planned giving world!
More to come on this and Secure Act 2.0.