Building a Legacy for Brown
Retained Life Estates
If you own a residence of any kind—a primary residence, a vacation home, or a farm—you can give Brown today the right to own the property when you die. You keep what’s called a life estate: the right to live in that residence for the rest of your life. You give Brown what’s called a remainder: the right to own it when you die. The IRS values this kind of a gift based on two things: the age of the person establishing it and an interest rate that the IRS sets every month. The lower that interest rate is, the more the gift is worth to the person making the gift. Right now, that interest rate is the lowest it has ever been, and your tax deduction could be significant. NOW is the time to learn more about this unique timebound opportunity!
