Planned Giving

Retained Life Estate: FAQs

Do I have any option other than having the charity take possession of the house should I want to move out of the property prior to my death?Layer Closed

If you negotiate a provision in the Retained Life Estate contract for the right to lease the property for the remainder of your life estate, you can keep the additional money. You remain responsible for the taxes, insurance, and maintenance expenses spelled out in the agreement with the charity.

Who is responsible for building modifications, additions and custom items like a workshop, extra garage, or swimming pools?Layer Closed

You are. Most likely the RLE contract will contain a provision that requires you to get prior approval from the charity to make such improvements.

Can we move out and then back in?Layer Closed

Yes. The use of the asset is yours. Should you decide to lease for a while and then move back in, this gifting concept allows for that.

Can we use our second home to create a Retained Life Estate?Layer Closed

Yes. As long as the property qualifies under the IRS rules, it can be used to create this type of donation arrangement (i.e., you don't take depreciation or own it in a corporate structure, etc.) Check with your accountant to make sure it qualifies. Motor coaches and yachts qualify as second homes.

Calculate your income tax deduction for this gift!

More detail about Retained Life Estates.
Contact us so we can assist you through every step.

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Charitable Bargain Sale →

Provides cash to meet obligations, or an income stream.

Retained Life Estate →

Use your home to make a gift, but still live there.

Charitable Lead Trust →

How can you preserve your businesses' value for your family?

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Planning your estate and legacy for future generations, including your charitable interests, takes careful evaluation. Consulting with the appropriate professionals can assist you.

Annabel Robertson, Esq CFRE, Vice President of Institutional Advancement
arobertson1@irsc.edu
(772) 462-7241

Create a Lasting Legacy

Philanthropic planning is a powerful mechanism for meeting personal estate planning objectives while making a meaningful impact on the College’s initiatives and mission. At Indian River State College, we welcome the opportunity to work with estate planners to ensure that your clients find the charitable arrangements that best meet their needs.

Estate-planning options can achieve significant tax benefits while furthering a client’s philanthropic goals:

Gifts through a will or trust
Charitable trusts and gift annuities
Donation of stocks and mutual funds

If your client has already included or intends to include Indian River State College in their will or estate plan, or if you would like someone from IRSC Institutional Advancement to contact you to discuss how to support IRSC as part of their estate planning strategy, please contact us.

Questions? Fill out the form below.

Planned Giving

Retained Life Estate: FAQs

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Explore More Gift Options

Charitable Bargain Sale →

Retained Life Estate →

Charitable Lead Trust →

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Create a Lasting Legacy

Questions? Fill out the form below.

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