so there are multiple advantages to

people of all ages creating life estate

number one and the primary goal is to

make sure that you have the ability to

live in your home for as long as you’re

alive so by creating a life estate as

long as you’re living in the house

no one can kick you out there are also

tax advantages because you’re able to

maintain if you are receiving let’s say

star benefits or any type of tax

benefits

technically when we do a life estate

deed the transfer doesn’t happen to the

person that you’re giving it to until

you pass away which means that you’re

still receiving all of the tax

exemptions no necessary tax filings for

the person who you’re transferring it to

and we’re avoiding capital gains at

death for that same reason