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How You Benefit From Giving Real Estate

If you've owned your home or other real estate for a long time, no doubt it has increased in value appreciably. What happens if you sell the property?

In many circumstances, should you not meet the requirements of available tax breaks, you must pay capital gains tax on the property's appreciation. Plus, marketing and selling real estate takes time and effort, even if you use professional assistance.

If you'd like to help meet our critical needs, your property opens the door to a unique giving opportunity: donate the property to Sisters Hospital Foundation, either now or whenever you no longer need it.

Exceptional Gift Options With Benefits for You
Perhaps you're ready to move into a smaller house, a condominium or a retirement home. Maybe you have a vacation home you no longer use. Possibly you'd like to give up farm life for a place in town.

Outright gift. The home you're leaving can be given to Sisters Hospital Foundation outright. If you have owned it for more than a year, you receive a tax deduction for the full current market value (rather than your lower cost basis), and you avoid capital gains tax on the appreciation. Your gift is deductible up to 30 percent of your adjusted gross income, with a five-year carryover allowed for any excess.
Charitable remainder trust. Another alternative is to transfer your unmortgaged home in which you no longer live or other unmortgaged real estate to a charitable remainder trust. This can be a productive gift for both of us, securing a life income for you and a survivor (such as your spouse), and providing us with much-needed assistance when the remainder comes to us at the termination of the trust. It works this way: Once the property has been transferred to the trust, the trustee can then sell it and invest the proceeds in income-producing securities, which become the source for the income payments to you and any other recipient you name.

When you give us real estate, you know your gift will serve our long-term goals while meeting your short- and long-term desires.

Please check with Sisters Hospital Foundation before making any gifts of this type.

Click the icon to receive your FREE guide to making gifts of real estate.

Please call Julie Snyder at 716-862-1992, or e-mail us at jsnyder@chsbuffalo.org, for more information.

The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.