RETAINED LIFE ESTATE

AN OPTION THAT LETS YOU HAVE IT BOTH WAYS

Let us assume you would like the tax advantages that a charitable gift of real estate would offer, but you want to continue living in your

personal residence for your lifetime. Do you realize you can give us your home and continue living there?

It is true! This type of gift is called a retained life estate.

A gift of your home (including a vacation home or condominium) or farm, with a reservation of the right to use it for life, results in a charitable deduction on your income tax return.

BENEFITS

  • Use the residence for your life and/or another personís life

  • Receive income tax savings through a charitable deduction for a portion of your homeís value

  • Reduce estate taxes

  • Make a gift of only partial interest in the property, and receive tax advantages