Gift of Personal Residence or Farm with Retained Life Estate

How It Works

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

Benefits

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