EFSC Foundation Gift Planning Guide | Page 11

RETAINED LIFE ESTATE Benefits  Transfer title to your personal residence now, while retaining the right to live in or use it for the rest of your life or another’s life. Upon the death(s) of the life tenant(s), title to the property vests in EFSC and any subsequent sale proceeds will be applied to the purpose you designate. You receive an immediate income tax deduction based on the fair market value less the present value of the retained life estate. How it works Transfer future interest in your home EFSC receives your home upon your passing 3 1 2 11