A Retained Life Estate

Allows You To:

  • Make a gift of a farm or personal residence.
  • Receive a tax deduction for a portion of your gift.
  • Continue to use your property.

How You Benefit:

  • You receive a charitable income tax deduction today for a gift that will help UT Health San Antonio in the future.
  • Your estate taxes may be reduced because the property is removed from your estate.
  • Your executor’s job is simplified, since your property will pass directly to UT Health San Antonio upon your passing.

How does it work?

At the end of your life, UT Health San Antonio can use the property or the proceeds from the sale of the property—either for an endowment or for a purpose you specify.

Planning Tips

  • Already know when you would like to downsize? A retained life estate can be set for a term of years specified by you.
  • If you decide to leave your property before the term of the gift is complete, you may:
    • • rent the property to someone else,
    • • sell it in cooperation with UT Health San Antonio, or
    • • receive an additional deduction.
  • During the term of the gift you will continue to be responsible for all regular expenses of maintaining the property, including taxes and repairs.
  • A gift of a retained life estate can be made either with the entire property, or by giving UT Health San Antonio a partial interest in the property.
  • Gifts of real estate require a qualified appraisal and can take some time to complete—contact UT Health early in your decision-making process.