The rapid run-up in farm and ranch real estate values in recent years has resulted in some property owners considering a charitable contribution but often with a life estate for the surviving spouse.1 That result was made possible by an amendment in the Tax Reform Act of 1969.2 Such a plan can be implemented rather simply with a legal life estate followed by a remainder interest to the charitable organization.
Harl, Neil E.
"Handling a “Split-Interest” Arrangement With a Life-Estate Preceding a Charitable Remainder for Farms and Personal Residences,"
Agricultural Law Digest: Vol. 25
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol25/iss19/1