A retained life estate is a gift plan defined by federal tax law allowing the donation
of a personal residence (to include a vacation home) or farm with the donor retaining
the right to life enjoyment. A life estate may be retained for one or more lives
or it may be retained for a term of years. All routine expenses - maintenance
fees, property taxes, repairs, etc. - are the responsibility of the donor. The
donor receives income tax benefits in the year of the gift (the property is irrevocably
deeded to the charity) and estate tax benefits.
Please note, individual financial
circumstances will vary. The information on this site does not constitute legal
or tax advice. Donor stories and photographs are for purposes of illustration
only. As with all tax and estate planning, please consult your attorney or estate
specialist. All material is copyrighted and is for viewing purposes only. Use
of this site signifies your agreement with the
terms of
use. The content in this Planned Giving section has been developed for Incarnate
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