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 Mental Health America 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 MHA, 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 Mental Health America. When your life estate ends, or you terminate your interest, MHA 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. 
For more information E-mail us, complete the Personal Illustration form, or call us at (703) 838-7533 so that we can assist you. |