Deferred Gifts: Gifts of Residual Interest

Gifts of Residual Interest are very similar to Charitable Remainder Trusts in that you as donor are able to continue enjoying the benefits of your personal property for life while making a major legacy gift to International Teams today for which you also receive an immediate tax benefit.

Benefits of Gifts of Residual Interest

• You retain use of the property for life

• You receive a charitable tax receipt for the net present value of the property when the gift is made

• You can claim a charitable donation for up to 75% of your net income carried forward for five years

• You can avoid probate since GRIs are less susceptible to being contested than a normal bequest, and provide privacy

• You can designate your bequests to any International Teams program or area that meets your interest and focus such as community development, marginalized women, refugees etc.

Benefits to International Teams

• Gifts of residual interest may be added to International Teams' assets or collections for the enjoyment or use of future missionaries, staff or key mission beneficiaries

• Proceeds of GRIs that are to be liquidated after the donor passes away help provide the support International Teams relies on to continue growing and impacting the world.

Example

Brian wanted to support the work in East Africa where IT first began distributing literature as a legacy. He decided to give a residual interest in his personal residence valued at $400,000 to International Teams. He received a tax receipt for $300,000 at the time of the gift and will continue to enjoy his home for the rest of his life. When Brian dies International Teams will apply the proceeds from the sale of his home to the chosen designation once the residual interest in the property is realized.

For more information on gifts or residual interest, please contact International Teams at 1-800-465-7601, 519-669-8844 or email us at give@iteams.org