Retained Life Estates

Retained Life Estates

A retained life estate allows you to literally “live in your gift.”

How Does a Retained Life Estate gift work?

Step 1:  Transfer your residence or vacation home to The Ackerman Institute for the Family but retain a life estate.

Step 2: Continue to live there for life or for a specified term while continuing to be responsible for all taxes and maintenance.

Step 3: The property then passes to The Ackerman Institute for the Family when your life estate ends.

Retained Life Estates – Benefits to You

  • You receive credit for the donation and an income tax deduction for a portion of the appraised value of the property.
  • You can terminate your life estate at any time and take an additional income tax deduction.
  • You get the immediate gratification of making a significant gift that benefits you now and The Ackerman Institute for the Family later.