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Retained Life Estates |
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How It Works
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You transfer your residence, farm, or vacation home to Ithaca College subject to a life estate. |
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You continue to live in the property for life or a specified term of years, while continuing to be responsible for all taxes and upkeep. |
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The property passes to Ithaca 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 have the satisfaction of making a significant gift now that benefits Ithaca later.
More
- Read more detail. Click here.
For more information
If you are considering a retained life estate gift, email us, complete the personal illustration form, or call us at 607-274-3466 so that we can assist you through every step of the process.
