Gifts
of Real Estate
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You
may find that gifting real estate is the most
advantageous way of supporting Gospel for Asia.
Real estate, as a charitable gift, offers a variety
of estate and tax planning possibilities.
A
unique gift opportunity is available
for personal residences, vacation homes, and farms.
You can give the property to Gospel for Asia while
retaining the right to use the property during
your lifetime. You would receive a current income
tax charitable deduction based on the present
value of Gospel for Asia's future interest in
the property.
Some of the considerations:
- Gifts
of real estate can be especially helpful for
people planning to move into a smaller home
at retirement, or for those with vacation homes
they are no longer using
- Real
estate can be expensive to maintain or difficult
to sell and if it has appreciated in value,
the sale can lead to significant capital gain
tax
- These
gifts can convert a non-income asset into a
life income arrangement for you and/or another
beneficiary
- Gifting
property to a charity removes it from your taxable
estate
A
gift of real estate can remove the burden
of maintenance, avoid all capital gain tax and
provide a charitable deduction for the full value
of the property, subject to the 30% limitation.
You may deed some or all of the property outright
to Gospel for Asia, or you may transfer ownership
of the property to Gospel for Asia while retaining
life tenancy rights, known as a gift of a remainder
interest.
Under
a gift of a remainder interest arrangement,
you can donate your home to Gospel for Asia and
continue to live in it, receiving a charitable
deduction for a portion of the appraised value
in the year of donation. Real estate can also
be used to establish a Charitable Remainder Unitrust.
To
discover the many ways to use real estate in your
estate plan we recommend that you consult a PhilanthroCorp
Estate Specialist with expertise in this area.
Please call 800-876-7958 ext 2127
or email (click here)
Importance
of Estate Planning
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Information
on this site is NOT intended for legal advice.
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Planned Giving
