non spousal annuity with low cost basis to lead trust?

client inherited 3 annuities with a total of 260k. Cost basis is 57k with a total taxable amount of $203k.

We looked into the 5yr deferral and the Lincoln i4life product. Client is a doctor age 65 looking to retire at 70 and does want any income now.

a. Can we transfer the annuities over to a charitable lead trust so he gets no income and children receive the balance when he passes tax free?

or…

b. is that no allowed?

Any other suggestions that would help him on the tax burden?

Thank you,
Douglas