Real Estate for Education Charitable Organization
Real Estate Donations - Why Donate Real Estate / Land / Property?
What is in it for You:
Once you have all of your materials needs taken care of, which of course you have, there are very few things in life which can elevate your level of happiness, one of these things is contributing to a cause larger than yourself, you have been very successful over the years, accumulating many properties or other types of assets; you now feel it's time to pay forward by giving others the opportunity to be as successful as you have been.
Most people do not have a large real estate portfolio. Those that do have found out they can enjoy significant financial benefits
and provide a charitable benefit to the community at the same time with a real estate donation.
A real estate donation to Real Estate for Education Charitable Organization can help you rid yourself of non-producing
properties and also avoid capital gains tax on highly appreciated property.
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.
Example:
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.
Other Reasons 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 for Education Charitable Organization. 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.
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.
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