Living in a Charitable Deduction

How it works

1. You transfer your residence, farm, or vacation home to the American Red Cross subject to a life estate.
2. You continue to live in the property for life or a specified term of years, while continuing to be responsible for all taxes and upkeep.
3. The property passes to the Red Cross when your life estate ends.

Benefits

• You receive gift credit and an immediate income tax deduction for a portion of the appraised value of your property.
• You can terminate your life estate at any time and take an additional income tax deduction.
• You can have the satisfaction of making a significant gift now that benefits the Red Cross later.

For more information

Email us at grossa@arcla.org , complete the personal illustration form, or call Amy Gross, PhD at (310) 441-2685 so that she can assist you through every step of the process.