Did you know you can give the Boys and Girls Club of East County Foundation your personal residence, vacation home, farm or other property—while enjoying immediate and possible future tax benefits?
Here are the advantages:
Make a significant gift today
If you own property for longer than a year that is fully paid off and has appreciated, you can deduct the property’s full current value, avoid capital gains tax on any increase in value and remove that asset from your taxable estate. Plus, you avoid future expenses such as taxes, insurance and maintenance.
Continue to live there or use the property
You can transfer the deed of your home or farm to the BGCEC Foundation now and retain the right to use it for your lifetime and/or another person’s lifetime or another period of time. In this life estate arrangement, you are still responsible for taxes and upkeep, but you will receive an immediate tax deduction for the eventual charitable gift. Your spouse or loved one may also continue to live in the property after your lifetime. The BGCEC Foundation receives full use of the property when the term of the life estate ends.
Receive an income and tax benefits
Highly appreciated, low-yielding property may be ideal to fund a charitable remainder trust that provides you or your loved ones an income for life or other period of time you choose. Giving in this way may be an especially appealing option if you own real estate that currently yields no immediate financial benefit. You can receive a tax deduction now, bypass capital gains tax, arrange an income stream for yourself or others and make a gift to BGCEC Foundation.
Leave a legacy
You can arrange a future gift to BGCEC Foundation by leaving real property to us in your will or living trust.
Find Out More!
Please contact your advisor for help with questions about your estate plans.
For more information about the Boys and Girls Clubs of East County Foundation, please call 619-440-1600 and ask for our Executive Director, Forrest Higgins.