For many, your home is your most valuable asset. It may never occur to you that you could use your home to make a significant charitable gift while still living there. A retained life estate may offer the key to unlocking this type of gift.
A retained life estate allows you to give a personal residence, farm or vacation home to Lincoln Community Foundation (LCF) and retain the right to live in it for the rest of your life or for a term of years. You receive an immediate charitable tax deduction when the property is transferred to LCF. When the term ends, LCF sells the property and establishes a permanent Fund benefiting your selected area of interest or organization.
For more information on a retained life estate, contact us.