HAVE IT BOTH WAYS
WITH A RETAINED LIFE ESTATE

Did you realize you can give the Seventh-day Adventist Church your home but enjoy its use for life? It’s true. You can give us your home and receive a charitable deduction for it, even though you continue living there. This is called a retained life estate.

Give Your Home But Enjoy Life Use

Let’s assume you like the tax advantages that a charitable gift of real estate would offer, but you want to continue living in your personal residence for your lifetime. You’d like to retain the right to rent your house or make improvements. You may also want a survivor (perhaps your spouse) to enjoy life occupancy. But ultimately, you’d like for the Church to get the property.

By deeding your home to the Church now, subject to all these rights, you can still obtain valuable tax savings.

Consider the Tax Implications

A gift of your home, farm, vacation home or condominium, even with stipulations about occupancy, results in a charitable deduction on your income tax.

But consider estate tax savings, as well. When you leave the home to your spouse through your will or some form of joint ownership, it’s generally not subject to federal estate tax. However, if you want one your children or a relative or a friend to live in the home after your lifetime, you may pay a substantial estate tax to leave the property to them.

The retained life estate provides you with a way to let someone other than your spouse have life occupancy of your home with reduced estate taxes.

Personal Satisfaction Added to Tax Benefits

If you’re considering leaving a home to the Church, ask about a retained life estate. Besides, the income and estate tax advantages you would enjoy, you’ll have the personal satisfaction of creating a significant gift for the Church.

To find out more, call Planned Giving and Trust Services today at 1 877 WILLPLAN® (1 877 945-5752) or complete the “Contact Us“ form.