Life Estate Agreement

Under a life estate agreement, you may transfer title to a residence or farm to a charitable interest while retaining the right to live there and use the property for life.

You are entitled to any income it produces and are responsible for the upkeep. A tax deduction is available in the year of the gift equal to the value of the remainder interest. At death, Barry University receives the property to use as needed, or as you directed.

Check with your attorney regarding the laws in your state.