Estate Planning

Establishing a life estate is a relatively simple process in which you transfer your property to your children, while retaining your right to use and live in the property.  Life estates are used to avoid probate, maximize tax benefits and protect real property from potential long-term care expenses you may incur in later years.  Transferring property to a life estate avoids some of the disadvantages of making an outright gift of property to your heirs.   However, it is not right for everyone and comes with its own set of advantages and disadvantages.

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