Retained Life Estate Agreements
Through the use of a "Life Estate Agreement", a person can make a gift to charity of their home, vacation home, or family farm today and reserve the right to continue living in it or using it for their and their spouse's lifetimes. At the death of the last spouse the property goes to the charity.
During the donor's lifetime they are responsible for paying all taxes, insurance, upkeep, as well as receiving any income the property might generate. The gift of a Retained Life Estate Agreement may result in federal income tax, gift tax and estate tax savings.
For more information on Retained Life Estate Agreements contact a staff member.