Retained Life Estate
The way this gift works is- you transfer residences, farm, vacation homes or any other property to Warm Blankets Orphan Care and still continue to live there for the rest of your life. You continue to have responsibility for maintenance, insurance and property taxes and general up keeping of the property. When the retained life estate period ends, Warm Blankets orphan care can sell it and use the money towards orphan care rescue operations. The benefits include:
- Income tax deduction the year you transfer to Warm Blankets Orphan Care
- You can use the property to generate income for you by renting it throughout the period of your life
- Avoid estate taxes
- Make a significant charitable donation