Retained Life Estate
You may desire to leave your home or farm to ASU Foundation at your death but would also like to receive a current charitable income tax deduction. A Retained Life Estate might offer the solution you need!
Retained Life Estate
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Life Estate
Life Use
ASU Foundation
Benefits of a Retained Life Estate
- Receive a federal income tax deduction for the value of the remainder interest in your home or farm
- Preserve your lifetime use and control of your home or farm
- Create a Retained Life Estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child
How a Retained Life Estate works
- You deed your home or farm to ASU Foundation. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other Retained Life Estate party named in the deed.
- You and ASU Foundation sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
- When the owners of the Retained Life Estate have passed away, your home or farm will belong to ASU Foundation. We will use or sell the property to further our charitable work.
Contact us
To learn more about a retianed life estate, please contact us. We would be happy to assist you and answer your questions.
