Gifts of Real Estate

Real estate in the form of a farm, business, investment, or personal residence can provide significant tax benefits if properly used as gift vehicles. It will often be to your advantage to donate appreciated land or capital assets that you have held for more than twelve months. By donating real estate held long term, you completely avoid capital gains tax on the appreciation and receive a charitable deduction for the full fair market value of your contribution.

Retained Life Estate Gift
As the creator of a retained life estate, you irrevocably deed to the North Colorado Medical Center Foundation your personal residence or farm, but retain the right to live in it for the rest of your life, a term of years, or a combination of the two. You may also use a vacation home to create this kind of gift. The retained life estate also provides you with a way to let someone other than yourself (a family member perhaps) enjoy life occupancy of your home without the associated estate tax payments. You will receive a current income tax deduction for your gift, and when your retained life estate ends, NCMC Foundation will then use your property or the proceeds from the sale of your property for the purpose you designate.