RETAINED LIFE ESTATE

A retained life estate is a gift plan that allows you to donate your home or vacation home to New York City Ballet while retaining the right to live in it for the rest of your life.

How does it work?

When you establish a retained life estate, you irrevocably deed your home to New York City Ballet.  While you retain your right to live in your home, you will be responsible for all routine and maintenance expenses.  When your retained life estate ends, New York City Ballet will use the proceeds from the sale of your property for the purpose you designate.

Your Benefits

• You and your spouse retain the right to live in your home for the rest of your lives.
• You receive an income tax charitable deduction for a portion of the appraised value of your property.
• If you decide to terminate your life estate earlier, you may receive an additional income tax charitable deduction.
• Your estate will benefit from reduced probate costs and estate taxes. 
• You will help ensure that New York City Ballet’s tradition of artistic excellence will always be preserved for future generations to enjoy.

If you would like more information about how a retained life estate can benefit you, or to learn more about the Serenade Society and the different ways you can support New York City Ballet through gift planning, please contact Barbra Lach in the Office of Gift Planning, at 212-870-4027 or email blach@nycballet.com.  All inquiries are confidential.
 
This information is not intended to represent legal or tax advice or to substitute for such advice. We urge you to consult your professional advisors when considering your charitable gift planning options.