Retained Life Estates (Living in a Charitable Deduction)





















How Retained Life Estates works

1. You transfer your residence, farm or vacation home to NRC subject to a life estate.

2. You continue to live in the property for life or for a specified term of years, while continuing to be responsible for all taxes and upkeep.

3. The property passes to NRC when your life estate ends.

Benefits

• You receive gift credit and an immediate income tax deduction for a portion of the appraised value of your property.
  
  
• You can terminate your life estate at any time and take an additional income tax deduction.
  
  
• You can have the satisfaction of making a significant gift now that benefits NRC later.