Retained Life Estate

A retained life estate allows you to make a gift of a home or certain other real estate while retaining the use of the property for as long as you live. The satisfaction of giving, as well as a charitable income tax deduction, is enjoyed now rather than later. You continue to take care of the property and pay the taxes, but because you have made a gift of the property, it does not pass through your probate estate at death, possibly saving unnecessary expenses and delays.

The satisfaction of giving, as well as a charitable income tax deduction, is enjoyed now rather than later.

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