South Seattle Community College Foundation Gift of Real Estate

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Planning a Gift

Support Education through a Gift of Real Estate

Here are five questions to consider:

Do you have a vacation property or another parcel of land you are not using?
Would you like your property to provide income for you?
Would you like to avoid paying capital gains tax on the sale of your property?
Would you like someone else to handle your property's sale?
Would you like to support the mission of the South Seattle Community College?

If you answered yes to any of these questions, you may want to consider the fictitious scenario that follows: Al and Helen Jones own a piece of land that they purchased several years ago for $50,000. Today the property is paid for and is worth $200,000. They paid property taxes for years on the land and now could use some income for their retirement. They would like to sell the property and invest the proceeds, but the risk of hefty tax on the gains holds them back.

Al and Helen could use their real estate to fund a charitable trust that would avoid any tax on the sale of the property. What's more, once the property is donated to the trust, the SSCC Foundation (the trustee) arranges for the sale and handles the investments according to the written directions of the trust document. The trust will pay them, a lifetime income through quarterly payments. Since the property is donated to a charitable trust, the couple also receives a charitable tax deduction that may reduce their income taxes.

Like Al and Helen, you may own real estate that is paying little or no return. Perhaps you are interested in talking about the possibilities of using real estate to make a charitable gift that produces lifetime income. To learn more about making a charitable gift through real estate, please contact us.