Gifts of real estate have a double tax benefit, including an immediate charitable deduction and the avoidance of capital-gain tax. A gift of real estate may include:
- Personal residence
- Farm house
- Vacation home
Cleveland Clinic understands the emotional connection you and your family likely have toward your family's residences. Consider 2 options when making a gift of real estate to Cleveland Clinic:
- Outright gift of your real estate
- Remainder interest of real estate
When making a gift of the remainder interest of real estate to Cleveland Clinic, you retain the right to possess and enjoy your property for as long as you and your spouse live. You also will receive the current income-tax deduction for the value of the remainder interest directed to Cleveland Clinic.
Planning Tip
Personal residences and farms are the only type of property from which a remainder interest can be transferred to Cleveland Clinic without the use of a qualifying trust.
Contact Us
For a confidential discussion about the benefits of making a gift of real estate to Cleveland Clinic, please call Institutional Relations and Development at 216.444.1245 and ask to speak with a member of our gift planning team or email giftplanning@ccf.org.
