Retained life estate
How it works
- You transfer your residence, farm, or vacation home to Volunteers of America of Minnesota subject to a life estate.
- 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.
- The property passes to Volunteers of America of Minnesota when your life estate ends.
- 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 have the satisfaction of making a significant gift now that benefits Volunteers of America later.
We invite you to contact us for more information so that we can assist you or your representative through each step of the process. Thank you again for including Volunteers of America of Minnesota in your charitable giving.
- Contact us with any questions
- Phone: 952-945-4000