Property Turns Into Income

Miranda's grandson often stopped by to help with chores around the house. On one visit, he sat down with her to explore the internet together. As a proud alumna of Utah Valley University (UVU), Miranda frequently visited the university's planned giving website, where she enjoyed reading weekly financial tips and inspiring stories about fellow alumni who were making a difference.

Miranda discovered a giving option that truly resonated with her: she could donate her home to UVU and, in return, receive income for life. After her lifetime, the remainder of her gift would go on to support student scholarships.

• Miranda: "I called the gift planner at UVU and asked how a charitable remainder unitrust works. She explained that when I'm ready to move out of my home, I can transfer it to UVU and set up a special kind of trust. The trust would provide me with income for the rest of my life, and I'd receive a tax deduction for my gift."

Miranda had been thinking about downsizing to a condominium with less upkeep. Her financial advisor reviewed the plan and confirmed that the income from the charitable remainder trust would comfortably cover her living expenses.

• Miranda: "After browsing real estate websites with my grandson, I found a nearby condo that was perfect for me. I called the gift planner at UVU and said I was ready to move forward."

Miranda was thrilled. She had found a way to turn her property into income to support her future needs, receive a charitable tax deduction, and make a lasting impact at UVU.

Giving back to the university that helped shape her life filled Miranda with pride. Through her thoughtful planning, she's now helping future Wolverines pursue their education, launch careers, and build better lives for their families.

What is a charitable remainder unitrust?

A charitable remainder unitrust is a trust that can be funded with your cash or other assets that provides you with income and tax benefits and supports the work of Utah Valley University with the remainder.

Is a gift of your home to fund a charitable trust right for you?

Your home has been one of your best assets, but after the kids move out and the house gets harder to care for, you may have other needs. Better than a reverse mortgage, a unitrust is one strategy to "downsize" your home, avoid capital gains tax and provide you with income.

If you have questions about how a unitrust could help you downsize, please contact us. We would be happy to answer questions that you might have.

Please note: The information above is representative of a typical donor and may or may not be an actual donor to our organization. Since your unitrust benefits may be different, you may want to create a printable illustration of your benefits by using the calculator on this page.