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Life Estate

The Life Estate is a simple agreement between you and Pepperdine where you retain control and the use of your home for your life and deed the remainder interest in your property to Pepperdine. By doing this, you can lower your income taxes while maintaining control and use of your home.

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Summary

  • Retain control and use of home for your lifetime
  • Receive an immediate income tax deduction
  • Avoid or reduce estate tax
  • Create a permanent legacy for Pepperdine University, its faculty, and students

Tax Benefits

  • Receive an immediate charitable deduction that may be used to offset income and reduce your taxes
  • Any charitable deduction that cannot be used in the year of the gift may be carried over for up to five additional years
  • The charitable deduction may increase your after-tax spendable income
  • Reduce estate taxes by leaving your home to Pepperdine

Control and Use of Your Home for Life

  • You maintain control and use of your home for your lifetime
  • You retain a life estate, so it is still your home
  • You also possess the option to sell your home and move to a new residence
  • You continue to pay for maintenance, insurance, and taxes
  • Does not trigger property tax reassessment in California

 

Live in Home for Life

*Retain control and use of home (life estate)

*Homeowner continues to pay maintenance, insurance, and taxes

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Tax Benefits

*Immediate tax deduction

*May reduce estate taxes

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Home to Pepperdine After Lifetime

*May designate program, school, or scholarship

*Home benefits Pepperdine, its faculty, and students after lifetime