Retained Life Estates
(Gift example*)
You have always loved your home and have no plans to move
from it. It has appreciated significantly since you bought it, and today it
is the largest asset in your estate. You are considering a gift to the Symphony in
memory of your sister but cannot locate an asset that you can part with comfortably.
You decide to donate your house to us, retaining a life estate
for yourself and your spouse. You have secured an independent appraisal stating
that your house is worth $250,000. The mortgage has been paid off.
Here are the benefits of this gift:
Husband and Wife, 70 and 68
|
Asset Value |
$250,000 |
Charitable Deduction |
$74,446 |
| |
*This example
is based on a factor that changes monthly. Contact our office for a personal
illustration based on the latest rates. |
For more information
Email
us, complete the personal illustration form,
or call us at (619) 237-1964 so that we can assist
you through every step of the process.
San Diego Symphony Foundation
1245 Seventh Ave
San Diego, CA 92101
(619) 237-1964
