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The Free Methodist Foundation supports the ministry of The Free Methodist Church — USA by providing a variety of stewardship services to Free Methodist ministries and families. These services include estate and gift planning. Our team of Christian professionals would love to speak with you and learn about your passion for your family and your favorite Free Methodist ministry — your local church or annual conference, one of our Free Methodist human service ministries, world missions and childcare, one of our educational institutions, or any other of our various ministries! We would consider it a privilege to explore creative and tax-wise ways you can provide funds for your family and these ministries during your lifetime and beyond. We firmly believe estate and gift planning can benefit everyone, whether you consider yourself poor or rich or somewhere in between. You may not think you have much, but by following God's lead with a willing heart, your gift may be just what a loved one or a ministry needs.
You may desire to leave your home or farm to your favorite Free Methodist ministry at your death, but would like to receive a current charitable tax deduction.
A life estate reserved might offer the solution you need!
Life Estate Reserved
How a Life Estate Works
You can deed your home or farm to for the benefit of the Free Methodist ministry of your choice but keep the right to use the property for the rest of your life. You will be able to make a current gift to ministry and maintain use of your home or farm.
Benefits of a Life Estate Reserved
- You receive a current federal income tax deduction for the present value of the remainder interest in your home or farm.
- You preserve your lifetime use and are able to use and control the home or farm while you are alive.
Life Estate Details
- The life estate can last for your life or your life and another person's life.
- It is possible for you to make a gift of your property even though there is a mortgage upon the residence.
- You will be responsible for the maintenance, insurance and taxes on the property.