About gifts of real estate
Making a gift of real estate may be an appealing option for property owners with appreciated value, as it helps avoid capital gains tax liabilities.
Additionally, it benefits individuals seeking to simplify estate planning, reduce estate tax liability, and relieve themselves from ownership expenses and maintenance burdens.
Benefits
- Eliminate ownership and maintenance expenses
- Create a lasting legacy of clean water
How it works
- Contact us to let us know about your interest in donating real estate. Gifts of real estate are nuanced and require a discussion so we can learn more about your property and intent. Then, we can determine if it complies with our gift acceptance policy.
- Obtain an appraisal of the property to determine its fair market value. This will help you determine the amount of your charitable deduction for tax purposes.
- Work with us and your attorney to transfer the property ownership. This may involve executing a deed, transferring a title, and completing any necessary legal or regulatory requirements.
- Claim your charitable deduction on your tax return for the year in which the donation is made, while avoiding income tax on any appreciation in value. If the contribution exceeds limits based on your adjusted gross income (AGI), you may be able to deduct the excess over the next five years.
Consult a qualified estate planning attorney and/or a financial advisor to determine if this option is right for you, or contact us for more information.
Add the gift of real estate to your legacy
Donate real estate in your will or trust or through a Transfer on Death (TOD) deed to ensure it is used for a charitable purpose and not subject to potential disputes or mismanagement in the future.
Get in touch
If you have any questions for our team, we want to provide the best support for you. We’d be happy to speak with you about your giving goals — with no obligation.
Name: Kees (Case) Groenewegen
Title :Senior Key Relationships Officer, Legacy Giving
Phone: 646-688-2323
Already included us in your estate plan? Let us know.
More ways to make an impact
Gifts in a will or trust
Donations in your will or trust are by far the most popular type of planned gift. We can help you add charity: water into your existing plans or, if you don’t have a will or trust, help you set one up at no cost to you.
Beneficiary designations
Gifting assets not covered by your will — like 401(k)s or IRA accounts — may help your heirs avoid unwanted taxes, even if you’re below the estate tax threshold.
Gifts that pay you back
Give assets while providing yourself or others with income for a period of time or distributions at a later date.