Making a difference: From lake house to legacy

After decades of owning a lake house, Susan began thinking about how she might use the asset to support causes she cared about.

The property held many great memories, but she no longer used it regularly and had begun considering selling it.

Susan reached out to [ABC Charity] to ask whether a gift of real estate might be an option.

After an initial conversation, the [ABC Charity] team explained that real estate gifts are sometimes accepted, depending on the circumstances and the organization’s policies. These gifts typically require review and due diligence to ensure the property can be responsibly managed or sold.

Susan spoke with her attorney and financial advisor about her goals. Together they determined that donating the property could allow her to support the mission of [ABC Charity] while simplifying her estate.

With the appropriate review and approvals, the property was transferred to [ABC Charity] and later sold. The proceeds were directed toward supporting the programs that Susan cared about most. What’s more, Susan’s tax advisors outlined how was eligible for an income tax deduction for the year of the gift based on the lake house’s fair market value, and how [ABC Charity] did not incur capital gains tax on the sale of the property.

“I loved the idea that something I owned could be transformed into support for the mission,” Susan said. “It felt like a meaningful way to give back.”

Important Note: Gifts of real estate involve legal and financial considerations. Donors should consult their attorneys, tax professionals, and financial advisors before making decisions about real estate donations.