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Life Estate Reserved

Life Estate Reserved
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Life Estate
Life Use
JFNA
Life Estate Reserve
You may desire to leave your home or farm to your Jewish Federation, Jewish Community Foundation or The Jewish Federations of North America at your death, but would like to receive a current charitable tax deduction.

A life estate reserved might offer the solution you need!

How a Life Estate Works

You can deed your home or farm to one of us but keep the right to use the property for the rest of your life. You will be able to make a current gift to The Jewish Federations of North America and maintain use of your home or farm.

Benefits of a Life Estate Reserved

  1. You receive a current federal income tax deduction for the present value of the remainder interest in your home or farm.
  2. You preserve your lifetime use and are able to use and control the home or farm while you are alive.

Life Estate Details

  • The life estate can last for your life or your life and another person's life.
  • It is possible for you to make a gift of your property even though there is a mortgage upon the residence.
  • You will be responsible for the maintenance, insurance and taxes on the property.
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Any tax consequences described on this page are based on U.S. federal tax law. Charitable deductions from state and local taxes or from Canadian and provincial taxes may not be available to the same extent as from U.S. federal taxes. The Jewish Federations of North America (JFNA) does not provide legal advice. Donors are encouraged to seek independent tax and legal counsel. You may read JFNA's charitable solicitation disclosure statement here and important information about endowment gifts and bequests to JFNA here.