Retained Life Estates
(Living in a Charitable Deduction)

How it works

	You transfer your residence, farm, or vacation home to Wells College 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 Wells 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 can have the satisfaction of making a significant gift now that benefits Wells later.