With a Retained Life Estate Gift, you can give future ownership of your property to The Community Foundation and can continue to live in and fully enjoy your home (or vacation property) as long as you like. The gift’s “remainder interest” is a charitable contribution in the year the arrangement is made, which may result in a substantial income tax charitable deduction. When the life tenancy terminates, The Community Foundation becomes the owner of the property. The proceeds of the property’s sale may be used to establish a fund at The Community Foundation, or add to an existing fund.