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Retained Life Estate with Gift Annuity

YOUR REAL ESTATE CAN HELP YOU CREATE A LIFETIME OF SECURE INCOME.

Make a gift of your primary residence, vacation home, or farm during your lifetime, and continue to enjoy your property while receiving tax benefits and income for life.

BENEFITS

  • A retained life estate with gift annuity arrangement establishes a lifetime income stream that is fixed and not subject to market fluctuations.
  • You retain full use of your property during your lifetime.
  • After your lifetime, the property passes to The UCLA Foundation which will sell the property and use the remainder to support UCLA as you designated

TAX ADVANTAGES

  • Benefit from an immediate charitable income tax deduction based on a portion of your property's value.
  • Any unused deduction may be carried forward in subsequent tax years, up to 5 additional years.
  • Reduce capital gains tax on highly appreciated real estate.
  • The property is removed from your taxable estate.

HOW IT WORKS

  • Establish a retained life estate with gift annuity arrangement with The UCLA Foundation, in which you deed your home, vacation home or farm to UCLA while retaining full use of your property for life.
  • Receive an annuity payment based on a rate that is determined by the age of the beneficiary and a portion of the property's value.
  • Also receive a sizable charitable income tax deduction.
  • Retain home ownership obligations, such as maintaining the property, paying taxes and insurance premiums.
  • After your lifetime, the property passes to The UCLA Foundation which will sell the property and use the remainder to support UCLA.

Contact Us

800-737-UCLA (8252) • giftplanning@support.ucla.edu

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UCLA's gift planning professionals are happy to provide you and your legal and financial advisors with personalized illustrations of the benefits that a charitable remainder annuity trust offers. Any information in this publication is not intended as legal, accounting, or financial advice. Please consult with your tax, legal, and financial advisors to ascertain whether this or other gift plans are in keeping with your own tax and financial needs. Conversations with the university's gift planning team are always confidential and never imply obligation.

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Read the latest news from campus: How campus units are collaborating to provide PPE for medical staff • UCLA researchers and global effort to test therapies • A summary of the "CARES Act" Congress signed into law and Gift Planning news. read more

New Tax Law Changes with the CARES Act

Congress recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that includes several charitable tax provisions to encourage giving. These include:

  • A new deduction for donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to charity, you will be allowed to take a special tax deduction, up to $300, to reduce your tax liability.
  • An increase in the deduction limit up to 100% of a donor's annual income for cash gifts (previously the deduction was capped at 60% of annual income). If you make a gift, you will be able to deduct more this year.

If you are interested in learning more about these opportunities, please contact UCLA's Gift Planning team at 800-737-8252 or at giftplanning@support.ucla.edu. Please also let us know how we can help you during this time.