Retained Life Estate

© Harold E. Malde Contact Us  Need more information about planned giving with The Retirement Resource Organization?  E-mail:  legacy@retirement-resource.org Toll-free: (877) 855-3718

Through a retained life estate, you can give your personal residence or farm to The Retirement Resource Organization now, while retaining the right to live there for the rest of your life (called a life interest or a life estate) or for a specified term of years. You may also provide for another individual to live there for the rest of his or her life. After your lifetime (or the other individual’s lifetime), the Organization will sell the property and use the proceeds to provide material and financial assistance to retirees and caregivers around the state.

Benefits

• Immediate Tax Savings – You can take an income tax charitable deduction for the property's current appraised value with an adjustment for your estimated retained interest.
• Future Tax Savings – You remove the property from your taxable estate.
• Leave a Legacy -Your gift will ensure retirees and caregivers will be provided for in future generations.  Become a Legacy Club member.

How It Works
Maria donates her home while retaining the right to live there for the rest of her life. The Organization will receive the remainder interest after her lifetime. Maria can take an income tax charitable deduction for the current appraised value adjusted for her estimated life interest. Maria is responsible for the costs to maintain the property while it is still in her possession, such as insurance, taxes and necessary repairs. Once the Organization receives the house, we will sell it to fund assistance projects.

Contact Us
Would you like more information on retained life estates, other gifts of appreciated assets or becoming a Legacy Club member? Please contact us, e-mail legacy@retirement-resource.org or call us toll-free at (877) 855-3718.

Information provided on our Internet site is not intended to be tax or legal advice. Please consult a qualified legal or financial advisor before making a gift.