|Eileen and Paul's Story - Gifts of Real Estate|
The house is just to big for me to take care of anymore...
Eileen and her husband, Paul, enjoyed their house. They had raised their three children there and had many family memories.
But after Paul passed away, Eileen began to find that the old house was a burden. Without Paul to take care of things and with their children involved in their own families miles away, it seemed that the house was too big, too old and even a bit lonely.
Eileen: "Paul always said that I was the solid one. If there was a decision to be made I could get to the bottom line pretty quickly. Well, the bottom line was that I needed to make a change for a number of reasons. I decided to move into a smaller place in town, easier to take care of and one that was part of a neighborhood where I could make some new friends and be a part of activities and things. And where my grandchildren could still come and visit."
An effective means of planning a gift...
Depending on the circumstances that are involved, gifts of real estate can be an effective means of planning a gift. Much of the individual wealth in America is invested in real estate. While the first thought often is a home or farm, real estate also can involve a vacation or second home, an apartment or commercial building, a shopping center, or undeveloped land.
Often our real estate holdings, be it our house, a second home or investment property, is a significant part of our net worth. Gifts of real estate, therefore, can enable us to make significant contributions.
Each piece of property and its unique circumstances need to be reviewed to determine the suitability of the property as a gift. Generally speaking, a rule of thumb is that an acceptable piece of property is one that can be readily sold.
Many ways to donate property...
Also, there are many ways to donate property. It can be:
In addition to making a significant contribution, there can be other benefits for you:
OK, I'm Ready To Learn More about Gifts of Real Estate...
As you may know, there may be significant advantages to using property as a charitable gift. While we've discussed some generalities here about donating real estate, if you're considering such a gift, please contact me to discuss its suitability for you, and whether it's right for your unique circumstances.
I will be glad to answer questions and offer suggestions confidentially based on your personal circumstances.
Please call Danny Hansen Today, at (520) 740-1501, or e-mail me using the information request form.