Leaving a Legacy with Planned Giving - the St. Patrick -- St. Anthony Parish Legacy Fund

Gifts of Real Estate

A current, outright donation of real estate would allow your gift to make a difference at St. Patrick -- St. Anthony Parish Legacy Fund now and could generate significant tax savings. Leaving real estate to St. Patrick -- St. Anthony Parish through your will or living trust is an efficient way to make a meaningful gift in the future without impacting your current lifestyle.

What are the benefits?

• One of the most flexible charitable giving options available, real estate can be used to make a gift that:
  • Provides an immediate charitable deduction for the fair market value of the property while potentially avoiding capital gains taxes.
  • Gives you income for life and an immediate tax deduction, while leaving the remaining assets to St. Patrick -- St. Anthony Parish after your death.
  • Provides St. Patrick -- St. Anthony Parish with income for a few years, then is passed on to your heirs at the time you specify with considerable estate and gift tax savings.
  • Qualifies you for a significant immediate tax deduction, allows you to use the property for your lifetime and leaves the property to St. Patrick -- St. Anthony Parish at your death.
• The real cost of your gift is reduced, since you'll save on income and capital gains taxes by giving appreciated property to St. Patrick -- St. Anthony Parish.

How does it work?

• You deed your home, farm, vacation home, undeveloped land or commercial building to St. Patrick -- St. Anthony Parish.
• St. Patrick -- St. Anthony Parish sells the property and retains the proceeds.

Planning Tips

• Gifts of real estate can be made to St. Patrick -- St. Anthony Parish by donating the entire property or a partial interest in the property.
• With all gifts of real estate, St. Patrick -- St. Anthony Parish conducts a due diligence evaluation of the property to determine its acceptability with respect to outstanding mortgages, liens and presence of hazardous substances, as well as the marketability of the property.
• Mortgage-free properties provide you with greater tax benefits than mortgaged properties.
• To meet IRS requirements, you will need to obtain an appraisal from a qualified appraiser.
• The exact tax savings depends on the type of gift and your specific situation.

Because gifts of real estate can be complex and legal restrictions may limit St. Patrick -- St. Anthony Parish's ability to own or sell a parcel of real estate, we will provide you with a Real Estate Worksheet to support and lead you through our due diligence process. Keep in mind: gifts of real estate require a qualified appraisal and can take time to complete—contact St. Patrick -- St. Anthony Parish early in your decision-making process.