Miranda Rabinowits lived in the family home where she and her husband had raised their three children. After her husband, Bob, passed away, Miranda found it increasingly difficult to care for her property.
Miranda's grandson came frequently to visit and help Miranda with chores around the house. On one such visit, he helped Miranda "surf" the Internet. Miranda enjoyed reading the weekly finance updates and donor stories on our web site. On one such visit, Miranda learned that she could make a gift of her home to the Jewish Federation of Las Vegas and receive income for life.
Miranda: I called the Federation and asked how a charitable remainder trust works. She said that when the time came for me to move out of my home, I could donate to Jewish Federation of Las Vegas and set up a charitable remainder of trust. The trust would provide me with income for the rest of my life and I would receive an income tax deduction in the year of my gift.
Miranda thought that she might want to move to a condominium with less upkeep. Her financial advisor reviewed the plan and said that the income Miranda received from the charitable remainder trust would be enough to cover her living expenses.
Miranda:After surfing on some real estate web sites with my grandson, I found a condominium nearby that was perfect for me. I called the Federation and said that I was ready to move out of my home and create the charitable trust.
Miranda was thrilled that she could turn her property into income to meet her future needs and receive a charitable deduction for her gift and also make a large gift to the Federation.
Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your charitable trust benefits under federal rules may be different from this person, please contact Daniel Prepas at Daniel@jewishlasvegas.com.