Retained life estate gift
Without the support of our generous circle of givers, PacRep could not withstand the "whips and scorns of time."
Give your home… and continue to live there. You, your spouse or another designee can live in your home for life. Nothing changes, except that Pacific Repertory Theatre will ultimately be able to sell the property and use the proceeds to continue its mission, or use it for Equity actor housing.
When to consider one
- If you have no heirs
- If your children have adequate assets of their own and the property might be a tax burden for them
- If you need a tax deduction
How it works
- You make a gift of real estate or your home, and PacRep's name is added to the deed.
- You continue to live in your home or use the property.
- You maintain the property and pay the property taxes (which do not increase, because the gift is to a qualified charity).
The benefits
- You keep the use of the property for as long as you and/or your designee live.
- An immediate tax deduction when the gift is made.
- The property doesn't pass through probate.
- Possibly reduced estate taxes.
We make no claims regarding the accuracy of this information or the tax consequences of your use of it. Please consult your own tax, legal or financial planning advisor.