Gift of Personal Residence or Farm with Retained Life Estate

Gift of Personal Residence or Farm with Retained Life Estate Diagram

How It Works

  1. Transfer title to personal residence or farm to IC
  2. No change in your lifestyle—you (and spouse) occupy and enjoy residence or farm for life
  3. IC keeps or sells property after your death(s)

Benefits

  • No out-of-pocket cost for substantial gift to IC
  • Federal income-tax deduction for remainder value of your residence or farm
  • You (and spouse) can occupy residence for life

More Information

Contact Us

April Mazza
Associate Vice President of Philanthropy
315-944-5833
amazza@ithaca.edu

 

Ithaca College
953 Danby Road
Ithaca, NY 14850
Federal Tax ID Number: 15-0532204

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