Linda and James have recently arranged to give their home to the Foundation in a retained
life estate.
Linda and James love their home. They purchased it decades ago when they were just married. Linda could show anyone the tree in the backyard that was the site of many of their children's adventures. Each night, they eat at the table that has been the site of countless family feasts.
Fortunately, Linda and James are in good health and their family lives nearby. They have a comfortable life and even though their house seems a little bigger since they retired, it is still home. Yet they realize they want to do something more with it. They have always supported Texas A&M and are known for their Aggie loyalty.
Recently, Linda and James had an idea. They wanted A&M to benefit from their house after their lifetime. They arranged to give the house to the Texas A&M Foundation and retained a life estate. That means they have the right to live or even rent the house for the rest of their lives. After that the Foundation owns the house and will sell it and place the proceeds in an endowment fund in Linda & James's name. Because of their gift, they will also receive an income tax deduction today for a portion of the value of the house.
What about your home, farm or ranch? Is it time to see what you can make it do for you? Keep the memories coming by knowing its future is as secure as its past.
In many cases it is desirable to keep the home or other property in the family. In many other situations the owners may plan to gift the property to the Foundation for Texas A&M after their lifetimes.
Whether you utilize a bequest or you utilize the life estate gift method, you remain in your home for the rest of your lives, and then the proceeds from the home benefit A&M. We will be happy to provide you information so that you and your advisors can develop the plan that is right for you.
Texas A&M Foundation
The Texas A&M Foundation is a nonprofit organization that solicits and manages investments in academics and leadership programs to enhance Texas A&M’s capability to be among the best universities.
