Is making a gift right for me

As you think about a gift of real estate or personal property, consider what you own and ask yourself the following:

  • Do I own property, such as a vacation home, that I don’t use very often?
  • Do I have real estate that is difficult or expensive to manage?
  • Will I owe significant taxes if I sell?
  • Do I have a substantial taxable income that a gift of property might offset?
  • Do I have a property that, if donated, would provide me with income?
  • Do I own a piece of art that I don’t enjoy as much as I once did?

If you answered, “yes,” to any of the questions above, you could benefit by gifting property to Giving for living.

Check with your accountant, tax advisor, and attorney before you make donations