Lifestyle Agreement
Live your best life
Keep your home for your lifetime
Increase your income
No monthly payments
No Income or credit requirements
How does it work?
The Lifestyle Agreement utilizes a legal arrangement called a Life Estate.
A life estate is a well-established legal structure used by older Americans for estate and long-term care planning. Our Lifestyle Agreement is built around this framework — so your home can help take care of you.
In this arrangement, there is a buyer and a seller. You are the seller and, after the transaction is complete, you become the life tenant. As the life tenant, you receive money and retain the legal right to live in your home for the rest of your life. The buyer receives a future ownership interest in the home - but cannot take possession while you are alive. Your right to remain in the home is fully protected for life, regardless of who owns the future interest.
The impact
Case Study*: 79-year-old homeowner with a $1,000,000 home
Home related expenses: Property Taxes and home owner's insurance are $8,000 p.a.
Before
Retirement income, after tax: $60k
Income after home related expenses (Property Taxes and Insurance): $52k
– this is what you have to live on.
After
Receive a lump sum of $100,000 right away to spend, save or use for future expenses. You will also have an additional $32,000 per year until age 91 (12 years) to live your best life*.
Now you will have $92k annuitized to live on as opposed to $52k.
Your income will increase by nearly 80%!
After 91, you will have $60k retirement income (your property taxes and homeowner's insurance are taken care of by the buyer)*.
*Note: These are estimates only. Excludes capital gain taxes and does not include inflation.
You can spend it the way you want
Home Repairs
Family Vacation
Medical Expenses
Grandkids Education
What's the catch?
You must be 75 or over. If two people own the home, the younger owner must be 75 or over.
You must live in an area where Graceful Finance operates.
Since this is a sale of your property that transfers possession of the home at the end of your life, you should discuss it with your relatives.
You still need to take loving care of your home.
What's the Lifestyle
Agreement IS and IS NOT
No Loans,
No Debt
Unlike a mortgage or reverse mortgage, there's no interest, no repayment, and no balance that grows over time.
No Foreclosure
Risk
Because there's no loan, you can't lose your home due to missed payments or financial hardship.
No Rent,
No Eviction
Unlike a sale-leaseback, you don't pay rent or face renewal terms. You stay for life - with peace of mind.
Your Right to Stay
For Life
Recorded as a life estate, your right to remain is permanent and legally protected.
The process
01
Get an estimate
Organize a call with a product specialist to understand how much you can cash out.
02
Attend a counseling session
To help us understand your needs and requirements and to explain the offer.
03
Appraise your home
We will help to organize an in person property valuation.
04
Release of funds
Schedule closing dates and documents and sign to complete the transaction!
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