Retained Life Estates
Another attractive gift plan for real estate is the retained life estate: you give Salisbury your home, then continue to live there for the rest of your life. We will own the house, but you will continue to be responsible for its ongoing taxes, structural maintenance, and upkeep. And, we mutually agree upfront about what we will do if you no longer wish to live in the house, or become physically unable to continue living there.
You will receive a charitable deduction based on the fair market value of your home minus the present value of the life tenancy you have retained.
With a retained life estate, you make a significant gift to Salisbury with the most valuable asset you hold, without disturbing your income or your living arrangements.
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To learn more about Retained Life Estates, Email us, complete the Information Request form, or call us at (860) 435-5703 so that we can assist you.
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