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Life Estate Reserved

You may desire to leave your home or farm to Detroit Public Television at your death, but would like to receive a current charitable tax deduction.

A life estate reserved might offer the solution you need!

Life Estate Reserved
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Life Estate
Life Use
DPTV

How a Life Estate Works

You can deed your home or farm to Detroit Public Television but keep the right to use the property for the rest of your life. You will be able to make a gift to Detroit Public Television and maintain use of your home or farm.

Benefits of a Life Estate Reserved

  1. You receive a 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.

Consult your attorney or financial advisor to determine what gift option is right for you.

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