888-228-7320Real Estate Donations - Why Donate Real Estate / Land / Property?
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A real estate donation significantly reduces your legal and tax liabilities on the properties you donate and more efficiently attain personal financial goals while also supporting Real Estate with Causes and our many charitable endeavors.
Size of Tax Deduction Determined by Current Market Value
One of the advantages to the donor is that the size
of the tax deduction is determined by the current market value of the property,
as opposed to the cost of the property when it was purchased. So if
you purchased your property in 1988 for $112,000 and today in 2009 it is worth
$412,000, the current value is what you base your tax deduction on.
Real Estate Tax Deduction
(Also, by donating a property instead of selling it outright, real property
donors can avoid paying brokers' fees.)
Why Have Others Decided to Donate Real Estate?
The answer is that, in many cases, if one takes into consideration ongoing
property taxes, maintenance costs, income taxes--or if the
property is sold, the cost of legal fees, brokerage fees,
estate taxes, inheritance taxes and capital gains taxes--it is
often financially preferable to donate properties to Real Estate with Causes. It
also saves heirs the trouble of trying to divvy up the gains if the will is
potentially contentious or inequitable. Sometimes there are intangible benefits
as well.
Often a donated estate will bear the donor's name, making the property a de
facto memorial.
Who Should Consider Donating Real Estate?
Those
that want to help improve the communities in which they live. Ideally, this
should be the greatest consideration.
Businesses
with properties that are idle, lacking a positive cash flow and are assets that
will never reach any useable potential.
Fully
depreciated properties that do not serve the financial interests of the donor.
Uninsured
catastrophes that are more a detriment financially to continue to maintain.
Of course these are just a few of the reasons for you to consider a charitable
donation of property.
Who Should Donate Real Estate
What About a Life Estate or Charitable Gift Annuity?
There are also ways of donating a home but still
being able to enjoy it during one's lifetime. Property owners can
create a
life estate, which allows them to live in the house, with
the understanding that the property title will be transferred to a given charity
upon death. Owners still receive the charitable tax deduction while they are
living, and depending on the property and its income potential, they may
even be able to get lifetime annuity. At the same time, they avoid
passing on the tax burden to family members after death.
A life estate is an especially attractive option for large trophy properties, in
cases where heirs may be unable to afford the ongoing maintenance costs and
property taxes. That way, even if one's family is no longer able to enjoy a
home, by donating real estate they can keep more of what, in the long run, is
more useful: cold cash. Click Here to Learn more about
Life
Estate Donations
For most of us, we hope to provide financial support for our families when "our
time" approaches. The reality is, however, that many of us have family members
that do not require vast financial help. In this instance, estate giving is a
great option to ensure that your hard work will help those less fortunate. Even
after passing away, estate giving is a way to ensure that the lives of future
generations will benefit from your successes. By planning to give a portion of
your assets as charitable contributions, you are making a decision to allow your
legacy to live on in the form of support and funding for many great causes
worldwide. Real Estate with Causes specializes in the allocation of these
contributions, and provides a safe and easy way to make sure that your assets go
to the organizations that could most benefit from your generosity. Estate giving
occurs throughout our society, and people from all walks of life participate.
Whether you are looking to donate a portion of what you leave behind, or your
entire net worth, Real Estate with Causes has the experience, reputation, and
ability to help you with any estate giving services you may require. We
encourage you to give us a call to speak with one of our estate giving experts.
Not only can we help you determine whether or not estate giving is the best
choice for you, we also walk you through the process of actually setting your
estate giving groundwork.
Simple Real Estate Donation Process
888-228-7320