LIFE ESTATE - HOME IS WHERE THE DEDUCTION IS

It is increasingly common for donors to leave their residence, vacation home, or other land to the local council after their lifetime.  This is often done through a bequest in the donor's will.  But there's a way to do the same thing, and get a current tax benefit for doing it.

A life estate gift gives you an immediate income tax deduction for promising the local council that it will receive your home or vacation home after your death, and/or the death of your spouse or other family member.  You continue to live there and use the property exactly as you do now, and your use is undisturbed until after your lifetime (or that of a spouse as well).

The life estate gift helps you get a current income tax benefit for a gift you may have been planned to put in your will anyway.  Contact us for more information about this interesting and helpful way to benefit your local council, as well as you and your family.

 Many great things have been made possible for Scouting through the use of life estate gifts.  Find out for yourself how your house can be more than a home.