How to Give:

Leaving a Legacy with Gifts of Property

Gifts of Real Estate

A current, outright donation of real estate would allow your gift to make a difference at Milton Academy now and could generate significant tax savings. Leaving real estate to Milton through your will or living trust is an efficient way to make a meaningful gift in the future without impacting your current lifestyle.

What are the benefits?

  • One of the most flexible charitable giving options available, real estate can be used to make a gift that:
    • Provides an immediate charitable deduction for the fair market value of the property while potentially avoiding capital gains taxes.
    • Gives you income for life and an immediate tax deduction, while leaving the remaining assets to Milton Academy after your death.
    • Provides Milton with income for a few years and is then is passed on to your heirs at the time you specify, with considerable estate and gift tax savings.
    • Allows you to use the property for your lifetime and leave it to Milton Academy after your death.
  • The real cost of your gift is reduced, since you'll save on income and capital gains taxes by giving appreciated property to Milton.

How does it work?

  • You deed your home, farm, vacation home, undeveloped land, or commercial building to Milton Academy.
  • Milton sells the property and retains the proceeds.

Planning Tips

  • Gifts of real estate can be made to Milton Academy by donating the entire property or a partial interest in the property.
  • With all gifts of real estate, Milton Academy conducts a due diligence evaluation of the property to determine its acceptability with respect to outstanding mortgages, liens, and presence of hazardous substances, as well as the marketability of the property.
  • Mortgage-free properties provide you with greater tax benefits than mortgaged properties.
  • To meet IRS requirements, you will need to obtain an appraisal from a qualified appraiser.
  • The exact tax savings depend on the type of gift and your specific situation.

Because gifts of real estate can be complex and legal restrictions may limit Milton Academy's ability to own or sell a parcel of real estate, we will provide you with a Real Estate Worksheet to lead you through our due diligence process. Keep in mind: gifts of real estate require a qualified appraisal and can take time to complete—contact Milton early in your decision-making process.

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© Planned Giving Marketing. This document is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.