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HOW WE USE YOUR GIFT
When you give your home or other real estate to Marquette, you create an
enduring testimonial of your interest in the university’s mission.
And what’s more, your personal satisfaction is complemented by valuable
tax benefits.
Gift of Home Doesn’t Mean You Have to Move Out
Let’s assume
you like the tax advantages that a charitable gift of real estate would
offer, but you want to continue living in your
personal residence for your lifetime. Did you realize you can give
your home to Marquette, even though you continue living there? It’s
called a retained life estate.
A gift of your home, farm, vacation home or condominium, even with stipulations about occupancy, results in a charitable deduction on your income tax.
The retained life estate may also provide you with a way to let someone other than you or your spouse (perhaps a sibling or a child) have life occupancy of your home with reduced tax obligations.
Benefits
- Income tax charitable deduction for the full fair market
value
- Avoidance of tax on the property’s appreciation
- No uncertainty
or expense of trying to sell the property
- No gift tax, plus a reduction of your taxable estate
Make a Gift Online
