You may desire to leave your home or farm to Asbury Foundation at your death but would also like to receive a current charitable income tax deduction. A life estate reserved might offer the solution you need!
To learn more about a life estate, please contact us. We would be happy to assist you and answer your questions.
Life Estates Work for Spouses Too - The life estate can last for your life or based on your life and that of another person, such as a spouse or loved one.
Mortgage Debt - It is possible for you to make a gift of your property even though there is a mortgage upon the residence.
Maintenance Issues - You will be responsible for the maintenance, insurance and taxes on the property, just as you were prior to creating the life estate.
Life Estates Are Flexible - If, at some point in the future, you are no longer able to live independently in your home, we may be able to help you use your life estate to create a lump sum cash payment (with a joint sale) or create an income stream (using the life estate to fund a charitable remainder trust or charitable gift annuity).
The Asbury Foundation is at the heart of Asbury Communities' not-for-profit pledge to make a difference in seniors' lives. Our Mission of securing charitable support to enhance the lives of persons served by Asbury is key to providing peace of mind to residents of Asbury's communities. Through benevolent care and life-enriching community programs and projects, we ensure that at Asbury, you can anticipate more.