Real Estate<!wide>

A gift of real estate may be an attractive way to make a substantial commitment to Graceland and realize tax benefits at the same time. You may be able to reduce significantly the amount of taxes you would have to pay related to income, capital gains and estate; finally, gifting of real estate can relieve you of the worries related to managing the property.

Types of real estate you can give

There are several types of property you can use as a gift to Graceland. These include a personal residence, vacation home, farm or ranch, commercial property, building lot and undeveloped or improved land.

Gift of real estate options

There are a number of innovative ways of making gifts of real estate to Graceland. Each technique provides you with a different set of tax and economic benefits that can be tailored to your estate plan objectives.

Outright Gift

You may deed property to Graceland and it is sold by Graceland immediately. One hundred percent of the appraised value is income tax deductible.

Fractional interest

You may deed a fractional interest (one-half, for example) to Graceland University as an outright gift. This technique can be useful in providing a tax deduction to offset a capital gain generated by the subsequent sale of the entire property.

Make a gift of real estate and use it for life

You deed the property to Graceland, subject to your continuing to occupy the property. You may occupy the house for your lifetime and your spouse's for a term of years. This type of gift must be a personal residence, vacation home, farm, or ranch.

How you can save taxes

With a gift of real estate, you benefit from a federal income tax deduction for the appraised value of the donated property. You may use the deduction for up to five additional years, following the iinitial year the deduction is taken. With a gift of appreciated real estate, you also avoid the capital gains tax. In addition, you may realize a significant estate tax savings.