Retained Life Estates
A retained life estate arrangement entails donating a personal residence (not necessarily your principal residence) or a farm to Medical Teams International, while retaining the right to occupy or use it for the duration of your life. You receive an income tax deduction for the present value of the remainder interest and avoid any potential tax on capital gains.
Read an example of a retained life estate.
Of course, under a variety of circumstances, there could come a time when you might not wish or be able to continue occupying the property. If this were the case, you could rent out the property, with the rental income payable to you for the rest of your life. The residence could also be sold, with the proceeds divided between you and Medical Teams International according to each party’s respective interest in the property as of the date of the sale.
A final option would be for you to contribute to Medical Teams International your right to continue using the residence. The contribution could be made either on an outright basis or in exchange for a charitable gift annuity.
If you have questions, please contact Linda Ranz at 425.284.1941 or firstname.lastname@example.org.
The information on this Web site does not constitute legal, financial, tax or estate planning advice and
should not be relied upon as a substitute for such advice. Medical Teams International encourages you to
seek the counsel of your own professional adviser as you determine how to proceed.