Retained Life Estate
(Living in a Charitable Deduction)
How it works
You transfer your residence, farm, or vacation home to the University of Pittsburgh 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 the University of Pittsburgh 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 can have the satisfaction of making a significant gift now that benefits the University of Pittsburgh later.
For more information