This is called a viager. The life estate deed within a life estate is a document that grants the owner the ability to pass on ownership of a property without including it in a will as part of ...

12 Documents to Prepare for Your Heirs ... Be sure to review your estate plans throughout your life. "Once you set up your estate plan, it's not like you never need to change it again.

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 ...