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Real Estate

For many families, real estate has been an excellent investment because its value usually increases over time. Few people realize that the real estate itself might be the source of a substantial gift. If you do not need to use your property, you can give it to Stephens now and receive a charitable deduction. You may also receive income for life if you put the property into a charitable remainder trust. If you want full use of the property but wish to leave it to Southeastern Illinois College upon your death, you can establish a life estate or bequest.

Benefits of using real estate as a charitable gift:

  • Reduced income, and estate taxes
  • Financial security for loved ones
  • Increased lifetime income
  • Continued use of the contributed property during your life

Example:

Jim and Ann own a home worth $200,000. They want to make a substantial gift to Southeastern Illinois College, but they want to continue living in their home. They give SIC their home but retain a life estate for themselves. They continue to live in the house until their deaths.  Jim and Ann gain a large and immediate income tax deduction and remove the house from their estate, thus reducing future estate taxes.  They also have the satisfaction of knowing they have made a major deferred gift to Southeastern Illinois College.