A retained life estate is a plan that allows you to donate a future interest in your home or farm to Children’s Hope while retaining the right to live in it for the rest of your life. 

As the creator of a life estate, you deed a future interest in your home or farm to Children’s Hope, but retain the right to live in it for the rest of your life or a term of years. You may also use a vacation home to create this kind of gift.

While you retain the right to live on your property, you continue to be responsible for all routine expenses: maintenance fees, insurance, property taxes, repairs, etc. If you later decide to vacate your property, you may rent all or part of the property in cooperation with Children’s Hope.  At the end of the term, or upon your death, Children’s Hope can either use your property or the proceeds from the sale of your property for any purpose you designate.

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 will benefit orphaned and at-risk children in the future.