JCYC Planned Giving

Planned Giving

7. How can I give my home and keep it, too?

A charitable life estate agreement allows you to give a personal residence or farm to the Japanese Community Youth Council while retaining the right to live there for life. Donors who enter a life estate agreement receive an immediate income tax deduction. The deduction is based on the present value of the home discounted by the estimated length of time the charity must wait to receive the home. To put it simply, a person age 70 will receive a larger deduction than will a person age 50, all other things being equal.

The IRS grants the deduction even though the donor continues to enjoy full use of the home. But the IRS also expects the owner to have full responsibility for the care and maintenance of the home. That's why life tenancy agreements simply continue things as they are currently, with the donor dealing with maintenance, property taxes, insurance and the like. The major benefits to the donor, then, are continued use of the home, an immediate charitable income tax deduction, the avoidance of probate, the avoidance of estate tax on the property, and the satisfaction of making a substantial gift to the Japanese Community Youth Council during one's lifetime.

For further information, call Sakura Suzuki at 415-202-7910 or email ssuzuki@jcyc.org.

Frequently asked questions about planned giving:

1. Can the Japanese Community Youth Council help me get my estate plan done?
2. How do I include the Japanese Community Youth Council in my will or living trust?
3. What's the big advantage in making the Japanese Community Youth Council a beneficiary of my retirement plan?
4. What kind of donors should consider a charitable remainder trust?
5. Gifts that pay you
6. Can you provide me with an estimate of my tax and income benefits?
7. How can I give my home and keep it, too?
8. Why does the Japanese Community Youth Council need planned gifts?
9. What should I do if I have already remembered the Japanese Community Youth Council in my estate plan?

Glossary of Terms

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