GIFTS THAT PROTECT ASSETSRetained Life Estate

You may desire to leave your property (home, farm, or vacation home) to the University of Indianapolis at your death, but a current charitable income tax deduction would be helpful now. A retained life estate might offer the solution you need!

Retained Life Estate

Home

Life Estate

Life Use

UIndy

Benefits of a retained life estate

• Current Tax Deduction: Receive a federal income tax deduction for the value of the remainder interest in your property
• Continued Use and Control: Through the retained life estate you continue the use and control of your property. You can preserve the use of the property for you, or you and a loved one, such as a spouse or dependent child
• Flexibility: If, at some point in the future, you no longer want or need the property, you may be able to use your life estate to create a lump sum cash payment (with a joint sale) or create an income stream (using the life estate to fund a life income gift)

How a life estate works

1. You deed your property to the University of Indianapolis. The deed will include a provision that gives you the right to use your property for the rest of your life and that of any other life estate party named in the deed.
2. You and the University of Indianapolis sign an agreement outlining that you will maintain property and pay all insurance and property taxes.
3. When the life estate parties have passed away, your property will belong to the University of Indianapolis. We will use or sell the property to further our educational mission.

Next Steps:

1. Contact UIndy's Office of Gift Planning at 317-791 2553 or [email protected] for additional information on a Retired Life Estate or to speak with Darcy about which gift that protect assets is right for you.
2. Seek the advice of your financial or legal advisor.