Gift of Personal Residence or Farm with Retained Life Estate

Gift of Personal Residence or Farm with Retained Life Estate Diagram

How It Works

  1. Transfer title to personal residence or farm to Millikin
  2. No change in your lifestyle—you (and spouse) occupy and enjoy residence or farm for life
  3. Millikin keeps or sells property after your death(s)

Benefits

  • No out-of-pocket cost for substantial gift to Millikin
  • Federal income-tax deduction for remainder value of your residence or farm
  • You (and spouse) can occupy residence for life

More Information

Contact Us

Alumni and Development Office
217.424.6383

 

Millikin University
1184 W Main Street
Decatur, IL 62522

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