Q: Several years ago, my father conveyed title to his home to the children and retained a life estate. He recently indicated that he would like to sell the home. What are the tax consequences if he ...

A retained life estate is a gift plan defined by federal tax law allowing the donation of a personal residence (to include a vacation home) or farm with the donor retaining the right to life enjoyment ...

Therefore, with careful planning, you can prevent the emotional and even family-destroying fights that can happen with some ...

1) the property owner (grantor) retains life estate while granting to someone else (grantee) the remainder interest, and 2) the grantor retains the legal right to rescind the remainder interest to ...