Retained Life Estate
(Living in a Charitable Deduction)
How it works
You transfer
your residence, farm, or vacation home to Phi Beta Kappa subject
to a life estate.
You continue
to live in the property for life or a specified term of years,
while continuing to be responsible for all taxes and upkeep.
The property
passes to Phi Beta Kappa when your life estate
ends.
Benefits
- You receive gift credit and an
immediate income tax deduction for a portion of the appraised
value of your property.
- You can terminate your life estate
at any time and take an additional income tax deduction.
- You can have the satisfaction
of making a significant gift now that benefits Phi Beta Kappa later.
For more information
E-mail
us, complete the personal illustration form,
or call us at 202-745-3234 so that we can assist
you through every step of the process.