Our legacy is advancing knowledge, inventing cures and solutions
What will your legacy be?

replay

Retained Life Estate

LET YOUR REAL ESTATE ASSETS CREATE YOUR LASTING LEGACY.

Make a gift of real estate during your lifetime, and enjoy immediate and significant tax benefits while continuing to live in your home for life.

BENEFITS

  • This arrangement allows you to make a gift with a large philanthropic impact without disbursing any cash.
  • You retain full use of your property during your lifetime.

TAX ADVANTAGES

Many donors find that establishing a retained life estate arrangement provides them with substantial tax breaks:

  • Receive an immediate charitable income tax deduction.
  • You can claim this tax deduction up to 30% of your adjusted gross income (AGI).
  • Any unused deduction may be carried forward in subsequent tax years, for up to 5 additional years.
  • Avoid capital gains tax on highly appreciated real estate.
  • The property is removed from your taxable estate.

HOW IT WORKS

  • Establish a retained life estate 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 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 use the proceeds of the sale to support the program or department of your choice.

Contact Us

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

UCLA's gift planning professionals are happy to provide you and your legal and financial advisors with personalized illustrations of the benefits that a retained life estate 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.

scriptsknown

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.