Life Estate Reserved
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What is a Life Estate Reserved?
A Life Estate Reserved is a planned giving arrangement where a donor transfers ownership of a property to a charitable organization while retaining the right to use or occupy the property for the remainder of their life.
- In a Life Estate Reserved, a donor transfers the title of a property, such as a residence or land, to Cure SMA while retaining the right to live in or use the property for the duration of their lifetime.
- The donor continues to maintain responsibility for property taxes, insurance, and maintenance expenses associated with the property during their lifetime.
- Upon the donor's death, the property passes to Cure SMA outright, allowing the donor to support Cure SMA while also retaining the benefits of using the property during their lifetime.
Benefits from a Life Estate Reserved:
- Continued use of property: Donors retain the right to live in or use the property for the remainder of their lifetime, providing security and stability.
- Charitable income tax deduction: Donors may be eligible for a charitable income tax deduction based on the present value of the remainder interest passing to Cure SMA upon their death.
- Avoidance of capital gains tax: By transferring the property to Cure SMA, donors may potentially avoid capital gains tax on the appreciation of the property's value.
- Reduction of taxable estate: The value of the property passing to Cure SMA is removed from the donor's taxable estate, potentially reducing estate tax liabilities.
How your donation will benefit the SMA community
- Basic research to pave the way for new SMA muscle treatments and a cure
- SMA advocacy initiatives like caregiving access and transportation
- Improving standardized care for every person with SMA
“If it weren't for Cure SMA, we might not have the treatments in place that have helped my daughter to thrive while living with SMA. I'll forever be grateful and do what I can to support Cure SMA."
How a Life Estate Reserved Works
A donor transfers ownership of a property to Cure SMA while retaining the right to live in or use the property for the remainder of their lifetime. The donor continues to be responsible for property taxes, insurance, and maintenance expenses associated with the property during their lifetime. Upon the donor's death, the property passes to Cure SMA outright, allowing the donor to support Cure SMA while also retaining the benefits of using the property during their lifetime.
Donors transfer ownership of a property to Cure SMA while retaining the right to receive income generated by the property, such as rental income, for the remainder of their lifetime.
Similar to the standard Life Estate Reserved except that donors receive enhanced income payments from the property during their lifetime, potentially through structured payments or annuity arrangements.
Contact Us
If you have any questions, would like further information, or want help making your contribution, then please contact us at [email protected] to get started.
Legacy giving typically takes many conversations and is not a fit for everyone. Conversations with Cure SMA about planned giving should be considered general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting, or other professional advice. To determine how a gift or estate planning decision might affect your circumstances, it is expressly recommended that you consult an attorney, financial advisor, or other qualified professional.