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One Gift, a Lifetime Investment

Meet your personal financial goals while making a difference for our future.

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Usufruct Reserved

You give your property to your church or other ministries but retain the right to use the property during your lifetime. Your church or other ministries receive the property when you pass away.

Benefits of a usufruct reserved

  • Receive a federal income tax deduction for the value of the remainder interest (naked ownership interest) in your home or farm
  • Preserve your lifetime use and control of your home or farm
  • Reserve a usufruct estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child

Life estate reserved video

How a life estate works

  1. You deed your home or farm to your church or other ministries. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other usufructuary named in the deed.
  2. You and your church or other ministries sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
  3. When the usufructuaries have passed away, your home or farm will belong to your church or other ministries . They will use or sell the property to advance the Kingdom.

Other considerations

  • Usufructs Work for Spouses Too—The usufruct can last for your life or based on your life and that of another person, such as a spouse or loved one.
  • Mortgage Debt—It is possible for you to make a gift of your property even though there is a mortgage upon the residence.
  • Maintenance Issues—You will be responsible for the maintenance, insurance and taxes on the property, just as you were prior to reserving the usufruct.
  • Usufructs Are Flexible—If, at some point in the future, you are no longer able to live independently in your home, we may be able to help you use your usufruct to create a lump sum cash payment (with a joint sale) or create an income stream (using the usufruct to fund a charitable remainder trust or charitable gift annuity).

Contact us

To learn more about a usufruct, please contact us. We would be happy to assist you and answer your questions.