Retained Life Estate
(Living in a Charitable Deduction)

How it works

	You transfer your residence, farm, or vacation home to the Binghamton University Foundation subject to a life estate.
	You continue to live in the property for life or a specified term of years, while continuing to be responsible for all taxes and upkeep.
	The property passes to the Binghamton University Foundation when your life estate ends.

Benefits

• You receive gift credit and an immediate income tax deduction for a portion of the appraised value of your property.
• You can terminate your life estate at any time and take an additional income tax deduction.
• You can have the satisfaction of making a significant gift now that benefits the Binghamton University Foundation later.

For more information

Email us, complete the personal illustration form, or call us at 607-777-4712 so that we can assist you through every step of the process.

The Binghamton University Foundation
Office of Gift Planning
P.O. Box 6005
Binghamton, NY 13902-6005
607-777-4712 | Fax: 607-777-2945