Gifts of residual interest allow you to irrevocably give property (real estate, art, etc.) to JA Southern Alberta now and retain for yourself and/or for family members the right to use the property for life or for a term of years. Upon your death, or expiration of the term, JA Southern Alberta becomes the full owner and may keep or sell the asset.
Benefits of Residual Interest Gifts:
- You receive an immediate tax receipt for the present value of the residual interest
- You continue to use the property without a change or disruption in lifestyle
- The gift is not subject to probate; the charity will handle the property sale and incur any associated closing costs
- You receive immediate recognition for the full value of the asset placed in the trust