Return on Entrance Fee
One way in which Lifespace residents may choose to make a planned gift to their community is by designating all, or a portion of their refundable entrance fee which was made upon admission to benefit The Lifespace Foundation in their community.
There are several advantages for a resident who chooses this simple method of planned giving as it:
- Can be completed at the donor’s convenience in the administrative office of your Lifespace community.
- Does not require the involvement of an attorney or any associated legal fees to finalize, needing only to have a simple form completed, which can be provided by your community. Donors are welcome to seek independent counsel and representation when considering a gift.
Who benefits from the gift of an entrance fee return planned gift?
- Donors may elect to gift the entire entrance fee to The Lifespace Foundation or designate a specific amount to The Lifespace Foundation while also designating other beneficiaries, such as children, a spouse, etc.
- When selecting The Lifespace Foundation as a recipient, a donor may designate the gift to benefit a specific community, fund, program or capital need or he or she may leave it to the discretion of The Lifespace Foundation management to use towards the organization’s greatest need at the time the gift is realized.