Gift of Residual Interest

What It Is

  • You can make a gift of residual interest by transferring ownership of property to the U of L while retaining the right to use it while you are alive or for a specified period of time
  • The gift will pass to the U of L outside of your estate, and you will receive an immediate tax receipt for the future value of the property

Types

  • Principle residence
  • Other property
  • Real estate
  • Art

Donor Benefits

  • Tax receipt for present value of residual interest
  • Donor continues to use property for life or a term
  • Possible tax avoidance on gain
  • Not subject to probate
  • Membership in the Fiat Lux Legacy Society

U of L Benefits

  • Irrevocable future gift of property
  • Not subject to probate

How to Give