Contact us
A gift can be planned to support your charitable interests while maximizing your personal objectives. A Gift Planning Officer would be glad to work with you and your advisor to determine the best option for you.
- By phone at
(619) 744-3352 - By our online form to request additional gift planning information
- By mail at:
P.O. Box 120551
San Diego, CA 92112
To receive our gift planning newsletter, The Nest Egg,
by mail, click here or contact us at:
(619) 744-3352.
Gift Planning
Retained Life Estates With the children grown, you may be thinking that within a few years you won't be using the cabin anymore. Or, perhaps you're considering a permanent move to a warmer client — but want to test the waters first. You are looking for a flexible plan that protects you against uncertainty. A retained life estate allows you to donate your personal residence (such as a home, cabin, or farm) while retaining the right to live on and use the property. When you make the gift, you retain the right to use the property for the rest of your life, a term of years, or a combination of the two. In exchange for your remainder interest gift, you receive an immediate income tax deduction. This creative gift plan transfers your house to the Zoological Society of San Diego but reserves a free lifetime tenancy to you. You can make a significant gift to the Zoological Society of San Diego with the most valuable asset you hold, yet not disturb your living arrangements or your cash flow. How does a retained life estate work? You deed the residence to the Zoological Society of San Diego, reserving a life tenancy for yourself. You will continue to be responsible for the house's ongoing taxes, structural maintenance and upkeep. Also, we mutually agree up front about what we will do if you no longer wish to live in the house after you have donated it to the Zoological Society of San Diego, or if you become physically unable to continue living there. Your gift will provide you with a charitable income tax deduction, based on the fair market value of your house minus the present value of the life tenancy you have retained. Planning points
We will be happy to walk you through the details of this potential gift. However, as always, we suggest you consult with your professional advisor. How do the numbers work? Obviously, your exact benefits will depend on the value of property you are contributing, its condition, your age, and other market factors. However, we provided an example to give you a better sense of the benefits of a retained life estate. For more information Email us, complete the personal illustration form, or call us at (619) 744-3352 so that we can assist you through every step of the process. Click here to calculate the benefits of your proposed gift.
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