Retained Life Estate

What is a Retained Life Estate?

A retained life estate is a gift plan defined by federal tax law that allows you to donate your home or farm to West Wisconsin Land Trust while retaining the right to live in it for the rest of your life.

As the creator of a retained life estate, you irrevocable deed to West Wisconsin Land Trust your home or farm, but retain the right to live in it for the rest of your life, a term of years, or a combination of the two. 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 your property in cooperation with West Wisconsin Land Trust. When your retained life estate ends, West Wisconsin Land Trust can then use your property or the proceeds from the sale of your property for the purpose you designate.

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