ColeenD3
Expert Alumni

Deductions & credits

That's not what @Leonard Smith said.

 

"Generally, when a couple has set up a life estate the estate does not pass to the beneficiary until both individuals have passed away."

 

A donor gives a gift while still alive. A decedent leaves an inheritance after death to a beneficiary.

 

What Is a Life Estate?

A life estate refers to property owned by an individual during their lifetime and prevents beneficiaries from selling the property before death.