Retained Life Estate
How it works
You transfer your residence, farm, or vacation home to Woodland Healthcare Foundation subject to a life estate.
You can live in the property for life or a specified term of years, while continuing to be responsible for all taxes and upkeep.
The property passes to Woodland Healthcare Foundation 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 make a significant gift now that benefits Woodland Healthcare Foundation later.
Consider a retained life estate if you:
- Want to use your residence to make a gift to Woodland Healthcare Foundation, but don't want to move out
- Are willing to deed your home, cabin, or farm to Woodland Healthcare Foundation if you can continue to live there rent-free
- Can continue to maintain your home
- Have no mortgage or other obligations on your home
Related Links
More about retained life estate
Gift example
For assistance with this gift plan, please complete the request information form or contact Kevin Duggan at (530) 669-5680 or e-mail to Kevin.Duggan@DignityHealth.org.