Frequently Asked Questions
How does a retained life estate benefit Packard?
At the end of your lifetime, we will receive your property with rights to immediately use it. Typically, we sell the property and invest the funds in the hospital.
Are there any special considerations in regards to a Retained Life Estate?
Yes, there are some considerations when making a gift of a Retained Life Estate. Prior to any property transfer, you will need to have the Foundation review whether or not they can accept the property. Another major consideration is whether or not there is any mortgage or liens on the property. Finally, you will need to receive an independent appraisal of the property for tax reporting purposes. To discuss these or any other considerations regarding a Retained Life Estate, please contact the Office of Gift Planning.
Lucile Packard Foundation for Children’s Health does retain the right to refuse real estate gifts.