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Changing a Life Estate
When you arrange a retained life estate to benefit Pediatric Endocrine Society, you retain the right to live in your home for the rest of your life. But what if something changes over the years and you no longer want to live there?
If this happens to you, there are several solutions:
- You and Pediatric Endocrine Society can agree to sell the property and divide the proceeds in proportion to our separate interests.
- The property can be rented, providing you an income.
- We could purchase your remaining life estate from you, thereby giving you cash for the rest of your property.
- You can relinquish the life estate, providing you with more tax benefits and allowing us to take possession of the property now.
Your Next Steps
Getting Started | Is This Gift Right for You? | Case Study | How to Complete Your Gift | Changing a Life Estate | Action Items
Getting Started | Is This Gift Right for You? | Case Study | How to Complete Your Gift | Changing a Life Estate | Action Items
Copyright © The Stelter Company, All rights reserved.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
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