What is a life estate? Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients. In this FAQ, we talk about life estates.   

Law students, grumble that they will never see one and don't know why they should learn all about such archaic things happening in the fictitious estate of Blackacre. But as an estate planner, we use life estates fairly regularly.   

We use life estates to avoid taxes or to avoid creating situations where just the wrong person or the wrong type of people or a class of people end up with the estate. They allow you to make gift to a person for his or her lifetime. Then, on that person's death provide that the property is to go to other beneficiaries - not the beneficiaries of the person who's getting the life estate. This type of gift is most often made in a trust.  

Hope this was helpful!  

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Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.  

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.