“Put away your checkbook and give Real Estate instead.”
Many supporters tell us they wish they could give more to support our mission. But many also have much of their money tied up in real estate, a personal residence or investment properties. Fortunately, gifting an investment property can solve this problem. You can save the trouble of maintenance and taxes on a property, not to mention dealing with leases and marketing. And when you make a gift of a property you often can avoid capital gains taxes, too.
Some donors have made gifts of their residence to Phoenix Children’s Hospital, but continue to live in the house. And you get a tax deduction for the value of the appraised value gift today! Through an agreement called a “retained life estate” you live in the house as long as you’d like or are able to. Usually the agreement means you continue to pay for upkeep, taxes and insurance, but the Hospital becomes the owner of the property and will sell it after your lifetime to support our mission.
Most gifts of real estate require the donor to pay for an appraisal to ensure you get full value for your donation, and also to get an environmental review. Under some agreements, your gift of real estate can even pay you income for life! Contact us today to see what type of gift works best for you.