Retained Life Estate

What to know

  • You will receive an immediate charitable deduction
  • Remain in your home without changing your lifestyle
  • You retain the right to rent your home or make improvements to it. You continue to have responsibility for maintenance, insurance and property taxes

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.

This is not professional tax or legal advice. Donors must consult their tax and legal advisors regarding their specific situation.

Did you know?

Our gift planning team is a resource for achieving your charitable and financial goals. We can assist you with creating a bequest, discussing life income strategies, and much more.

©2014 Lucile Packard Foundation for Children’s Health | 400 Hamilton Avenue, Suite 340 | Palo Alto, California 94301 | (650) 497-8365