Office of Institutional Advancement

Retained Life Estate

You can deed your home, farm or vacation home while retaining the right to live in or use the property for life or a term of years. In exchange, you receive an immediate income tax deduction.

How it works

  1. You transfer your residence, farm or vacation home to Jefferson. 
  2. You continue to live in the property for life or a specified term of years, while continuing to be responsible for the taxes and upkeep. 
  3. The property passes to Jefferson when your life estate ends, and the property is sold and the proceeds are used in the manner you specified. 
Life Estate

Benefits

  • You receive an immediate income tax deduction for a portion of the appraised value of your property. 
  • You can cancel your life estate (i.e. give up your right to live in the property) at any time and take an additional income tax deduction. 
  • You have the satisfaction of making a significant gift that benefits you now and Jefferson in the future. 

Questions? Contact the Planned Giving team:

Lisa W. Repko, JD
Senior Director, Planned Giving
P: 215-955-0437, Lisa.Repko@jefferson.edu

Kathy Sarlson
Associate Director, Planned Giving
P: 215-955-9259, Katherine.Sarlson@jefferson.edu