Planned Giving

Text Resize
Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video
Mobile Video Button

Life Estate Reserved

You may wish to contribute all or a portion of your personal residence or farm to UCI, but retain the right to continue to live in it for your lifetime. This gift arrangement is called a "retain life estate". Once the retained life estate ends, UCI may use or sell the property to support the campus' highest priorities or programs you have designated. Retained life estate agreements are not limited to a private residence or home, vacation homes make excellent gifts of this type.

Life Estate Reserved
Home
Life Estate
Life Use
UCI
Charity image

Benefits of a retained life estate

  • Receive an immediate income tax charitable deduction based on the remainder interest in your home or farm
  • The property is no longer part of your taxable estate and passes to UCI immediately on termination of the life estate
  • Can terminate your life estate early and receive second tax reduction
  • Preserve your lifetime use and control of your home or farm
  • Create a life estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child

How a life estate works

  1. You deed your home or farm to UCI. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other life estate party named in the deed.
  2. You and UCI sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
  3. When the owners of the life estate have passed away, your home or farm will belong to UCI. We will use or sell the property to further our charitable work.

Contact us

To learn more about a life estate, please contact us. We would be happy to assist you and answer your questions.

Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video
scriptsknown