Retained Life Estates
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How it works
 You transfer your residence, farm, or vacation home to Music Center 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 Music Center when your life estate ends.
Benefits
- 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 have the satisfaction of making a significant gift now that benefits Music Center later.
More
To learn more about retained life estates, Email us, complete the Information Request Form, or call us at 213-972-3333, select Gift and Estate Planning so that we can assist you.
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