We get a fair number of inquiries from clients regarding testamentary gifts. For bequest intentions, we typically talk about the need to discount the gifts – both from the perspective of assessing the probability of the gift actually being made AND from the perspective of estimating the present value of a future amount. With testamentary life income gifts, however, there are additional questions and points of concern. The donor is contemplating the eventual establishment of a gift that will provide income to someone else after the donor’s death. That means the calculations for a testamentary charitable gift annuity or testamentary charitable remainder trust are predicated upon multiple layers of assumptions.