Main Line Health

Main Line Health
Main Line Health
Main Line Health
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Bryn Mawr
Bryn Mawr
Bryn Mawr
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Bryn Mawr Rehab
Bryn Mawr Rehab
Bryn Mawr Rehab
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Lankenau
Lankenau
Lankenau
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Paoli
Paoli
Riddle
Riddle

Retained Life Estate: FAQs

Do I have any option other than having the charity take possession of the house should I want to move out of the property prior to my death?Layer Closed

If you negotiate a provision in the Retained Life Estate contract for the right to lease the property for the remainder of your life estate, you can keep the additional money. You remain responsible for the taxes, insurance, and maintenance expenses spelled out in the agreement with the charity.

Who is responsible for building modifications, additions and custom items like a workshop, extra garage, or swimming pools?Layer Closed

You are. Most likely the RLE contract will contain a provision that requires you to get prior approval from the charity to make such improvements.

Can we move out and then back in?Layer Closed

Yes. The use of the asset is yours. Should you decide to lease for a while and then move back in, this gifting concept allows for that.

Can we use our second home to create a Retained Life Estate?Layer Closed

Yes. As long as the property qualifies under the IRS rules, it can be used to create this type of donation arrangement (i.e., you don't take depreciation or own it in a corporate structure, etc.) Check with your accountant to make sure it qualifies. Motor coaches and yachts qualify as second homes.


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Main Line Health Foundations tax IDs

  • Main Line Health: Tax ID 23-2331531
  • Lankenau Medical Center Foundation: Tax ID 23-2176723
  • Lankenau Institute for Medical Research: Tax ID 23-2175659
  • Bryn Mawr Hospital Foundation: Tax ID 23-2179020
  • Bryn Mawr Rehab Hospital Foundation: Tax ID 23-2507348
  • Paoli Hospital Foundation: Tax ID 23-2359407
  • The Riddle HealthCare Foundation: Tax ID 04-3601189
  • Main Line Health HomeCare and Hospice: Tax ID 23-2308028
  • Mirmont Treatment Center: Tax ID 23-2215243