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Gift of Personal Residence or Farm with Retained Life Estate

Gift of Personal Residence or Farm with Retained Life Estate Diagram. Description of image is listed below.

How It Works

  1. Transfer title to personal residence or farm to LFA
  2. No change in your lifestyle—you (and spouse) occupy and enjoy residence or farm for life
  3. LFA keeps or sells property after your death(s)

Benefits

  • No out-of-pocket cost for substantial gift to LFA
  • Federal income-tax deduction for remainder value of your residence or farm
  • You (and spouse) can occupy residence for life

 

Contact Us

Beth Bentley
Director of Individual Philanthropy
bbentley@lfanet.org
(847) 615-3204

Lake Forest Academy
1500 West Kennedy Road
Lake Forest, IL 60045
Federal Tax ID Number: 36-2216167

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