Retained Life Estate to Wild at Heart Horse Rescue
Your home is probably your most valuable asset. Did you know that you can give your home or farm to Wild at Heart Horse Rescue and continue to live in it? This is known as retained life estate.
While you continue to live in the house, you can receive substantial charitable income tax deductions as well as savings on estate taxes.
This may be a great option for you if you want to continue to live in the home for now but you don’t plan to pass it on to family members or other heirs. It may also be a good option if you itemize your income taxes and are looking for ways to save on income taxes now.
How Does Retained Life Estate Work?
To make this happen, you transfer ownership in the property to Wild at Heart Horse Rescue but keep the right to live in the property for the rest of your life or for a specified period of time. While you live there, you still take responsibility for taxes, insurance and maintenance.
When you pass away, Wild at Heart Horse Rescue assumes ownership of the property without having to go through probate. We can then sell or use the property in support of our mission
This Benefits You And Wild at Heart Horse Rescue
You receive an immediate income tax deduction for a portion of the value of the home and you avoid the complexities and costs associated with property transfer during your lifetime.
Best of all, you experience the satisfaction of knowing that your gift will substantially benefit Wild at Heart Horse Rescue in the future. You’ll leave a legacy and truly make a difference in the lives of horse in transition.
Get in touch with Wild at Heart Horse Rescue to learn more about retained life estate or other options in charitable giving as part of estate planning.
