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Retained Life Estate – The Gift That Keeps You
in Your Home
What is a retained life estate?
A retained life estate is a plan that allows you to
donate a future interest in your home or farm to Eckerd College while
retaining the right to live in it for the rest of your life.
As the creator of a life estate, you deed a future
interest in your home or farm to Eckerd College, but retain
the right to live in it for the rest of your life or a term of years.
You may also use a vacation home to create this kind of gift.
While you retain the right to live on your property,
you continue to be responsible for all routine expenses: maintenance
fees, insurance, property taxes, repairs, etc. If you later decide
to vacate your property, you may rent all or part of the property in
cooperation with Eckerd College.
When your life estate ends, or you terminate your
interest, Eckerd College can then use your property or
the proceeds from the sale of your property for the purpose you designate.
WARNING: Consult your legal and tax advisors
before making any material decisions based on this information.
Send me a Personal Illustration!
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Judi Schraer
Director of Gift Planning
Eckerd College
4200 54th Avenue South
St. Petersburg, FL 33711
(727) 864-8229
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