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Gifts of Real Estate
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A few years ago I was contemplating moving from my house in Williamstown. I considered several options. Because the house was located close to the College, and since housing in the Williamstown area is in short supply, I wondered whether Williams might be interested... (More)
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Gifts of real estate—including personal residences, commercial buildings, farms, and parcels of land—can be an extremely advantageous way to give to Williams College. Gifts of real estate qualify for a charitable income tax deduction based on the appraised fair market value of the property, regardless of what you originally paid for it. You may deed the property outright to the College, establish a life-income arrangement (such as a Charitable Remainder Trust), or even transfer ownership while retaining the right to reside on the property for the rest of your life or a term of years, after which the property reverts to the College (a "Retained Life Estate").
It is also possible to gift a fractional interest (called an "undivided interest") in real estate. If there is an outstanding mortgage on your property, you may want to explore a Charitable Bargain Sale, which would allow you to satisfy the mortgage, take a charitable deduction for the gift portion of the property, and possibly receive income payments for life or a term of years.
Testamentary gifts of real estate through your will are also welcome.
It is important to note that, because gifts of real estate can involve issues of valuation, environmental liability, pre-arranged sale, and other issues, they should be carefully reviewed by legal and tax counsel and discussed with the Office of Gift Planning before any arrangements are made.
Call (413) 597-3538, email the Williams College Office of Gift Planning, or complete the personal illustration form on this website so that we can assist you through every step of the process.
Appreciated Securities
Bequests
Pooled Income Funds
Charitable Gift Annuities
Charitable Remainder Trusts
Charitable Lead Trusts
Real Estate
Gifts of Other Assets
How to give other assets, such as: Retirement Plans, Charitable Bargain Sales, Closely-Held Stock, Partnership Interests, Tangible Personal Property, and Life Insurance.
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