A gift with a retained life estate allows you to make an immediate, irrevocable gift of your principal residence, or a vacation property, or farm land, while retaining the use or enjoyment of the property during your lifetime and that of your family.  At the expiration of the life use, title passes to the Hospital.

You will be entitled to claim an immediate charitable contribution deduction for the value of the charitable remainder interest in the property. This remainder interest is based on the current fair market value of the property, discounted by the value of your retained life estate. The tax benefits of a gift with a retained estate can be substantial.

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