Retained Life Estate
(Living in a Charitable Deduction)
How it works
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You transfer
your residence, farm, or vacation home to the University of Connecticut Foundation subject
to a life estate. |
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You continue
to live in the property for life or a specified term of years,
while continuing to be responsible for all taxes and upkeep. |
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The property
passes to the University of Connecticut Foundation when your life estate
ends. |
Benefits
- You receive gift credit and an
immediate income tax deduction for a portion of the appraised
value of your property.
- You can terminate your life estate
at any time and take an additional income tax deduction.
- You can have the satisfaction
of making a significant gift now that benefits the University of Connecticut Foundation later.
For more information
Email
us, complete the personal illustration form,
or call us at 860.486.6135 so that we can assist
you through every step of the process.
Hal C. Reed, JD, CFRE
Assistant Vice President for Planned Giving
The University of Connecticut Foundation, Inc.
Storrs, CT 06269-3206
Telephone: 860.486.6135
Toll-free: 800.269.9965, Extension 6135
Facsimile: 860.486.1615
E-Mail: hreed@foundation.uconn.edu
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