A variety of opportunities are available to use unmortgaged residential, commercial or undeveloped property for charitable giving. Some of your options may be:
- making an outright donation
- placing your property in a charitable trust
- creating a retained life estate
A real estate gift qualifies you to deduct the full market value of the property and avoid capital gains on the increased value. It can also significantly reduce your taxable estate.
LLS will review your offer and evaluate the property's condition and marketability to determine the benefit of accepting such a gift. If the proposed property is acceptable to LLS, confer with your tax advisor to confirm that an independent appraisal is obtained according to IRS requirements for valuing the property and substantiating your charitable deduction.
Unlock the value of your home or other real estate by making a charitable gift that can convert your non-income-producing property into one that delivers regular income for yourself or someone else for a lifetime or a set term of years.
Create a Retained Life Estate
You can create a retained life estate when you donate your home, vacation home or farm and continue to live in it or use it for your lifetime or a set term. You receive an immediate tax deduction for a portion of your home's appraised value.
During the life estate, you cover all routine expenses such as upkeep, taxes and insurance. When your life estate ends or you terminate your interest, LLS uses the proceeds from your property's sale for the purpose you designate.
The Legacy Circle
Become an honored member of The Legacy Circle when you create a retained life estate or a trust.
Get More Information
Our Planned Giving office exists to serve you and your advisors as you consider your support for LLS. We would be pleased to meet with you, speak on the telephone or exchange email messages - it's up to you! Contact Ed Rodbro, National Director, Planned Giving, at 1-888-773-9958 or Ed.Rodbro@lls.org.