As the creator of a life estate, you deed the remainder interest in your home to Columbia, but retain the right to live there for the rest of your life. You may also use a farm or vacation home to create this kind of gift.

While you retain the right to live on your property, you continue to be responsible for all routine expenses: maintenance fees, insurance, property taxes, repairs, etc. If you later decide to vacate your property, you may rent all or part of the property and receive the income.

When your life estate ends, Columbia can then use your property or the proceeds from the sale of your property for the purpose you designate.

N.B.: Consult legal and tax advisors before making any decisions based on this information.

For More Information

E-mail us, complete the Personal Illustration form, or call us at 800-338-3294.

• You receive gift credit and an immediate income tax deduction for a portion of the appraised value of your property.
• If you decide you no longer want to live in the property, you can give your life estate at any time and take an additional income tax deduction.
• You make a significant gift now that benefits Columbia later.

Frequent Questions

Glossary