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.