Life Estate

Like many people in Sonoma County, your major asset may be your home. You may irrevocably transfer the ownership of a home or farm to the Community Foundation and retain the right to occupy the premises for the rest of your life. Life estate gifts trigger an immediate charitable income tax deduction and pass free of estate tax to the Foundation. As with all gifts of real estate, the Community Foundation considers potential life estate gifts on a case-by-case basis. Upon request, we can provide you with a sample form (called Life Tenancy Agreement) to review with your advisors.