Real Estate – Give While Enjoying Its Use

Planned Giving Tip of the Month: June

As you are considering making charitable gifts as part of your long-term financial and estate plans, you may want to consider ways a primary residence, vacation home or certain farm properties can be used to make a future gift to Yampa Valley Community Foundation and the Yampa Valley while enjoying a number of current and future financial benefits.

Through a gift of a remainder in real estate, you can make a gift of a home or farm property now, while enjoying the right to live there for the remainder of your lifetime or another period of time you determine. During that time you continue to enjoy the full rights and responsibilities of ownership.

Because you are making a future gift for charitable purposes you may enjoy the benefit of an immediate charitable income tax deduction for the value of that gift. As noted above, you continue to maintain the property and pay the taxes, and you may even receive any income the property generates. Because you have already provided for the eventual ownership of the property, it will not be subject to the possible expense and delay of execution of your will. It will also not be part of your taxable estate, possibly resulting in what may be significant federal and/or state estate tax savings for your heirs.

The Sleeping Giant Society of the Yampa Valley Community was formed to help you leave a legacy in the Yampa Valley.  The Yampa Valley Community Foundation works with donors to ensure your desires for the future of the Yampa Valley are carried on long after your time.  We invite you to visit, call, or connect with the Yampa Valley Community Foundation to discuss what your legacy will look like today.