National Alliance on Mental Illness
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Giving Gifts of Real Estate to NAMI
Do you own real estate you purchased several years ago and have been considering liquidating your investment? If you sold this property outright, you may face significant capital gains tax, especially if the property is not your primary residence. There is a creative solution you may wish to talk with us about -- contributing the property to a charitable remainder trust. Your gift could provide you or other family members with lifetime income and ultimately benefit NAMI.
When you use appreciated real estate to fund a charitable remainder trust, you will receive a charitable income tax deduction, and you will not be liable for capital gains tax on the increase in value of the real estate at the time you make the gift. In addition, you and/or other family members can enjoy a lifetime income from the trust. The assets in the trust may also be protected from estate taxes at your passing.
To learn more about gifts of real estate or gifts that can provide you or a loved one with a life income, please call NAMI's Office of Development at 1-888-999-6264 extension 7973, or e-mail Emily Tracy.
You may also wish to learn more about our Real Estate Referral program.
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