Gifts of real estate are an incredible way to share your love of the land and of Central Michigan.
When you give a gift of real estate, you can reduce your taxes, eliminate the burden of property management, and know that you are contributing to local conservation in a way that will encourage a love of the land for generations.
There are two ways that you can donate real estate as a gift to conservation:
Donate the property in its entirety. This allows you to receive the maximum charitable income tax deduction as permitted by law, and avoid capital gains tax. You can donate property like a camp, vacation home, business, apartment building, vacant land, or your primary residence.
Continue to use the property during your lifetime, but receive an immediate tax deduction for your gift. This is often called retaining a “remainder interest” or “life estate.” You pay the taxes during your use of the land. Upon death, ownership of the land passes to the Conservancy.
If you have any type of property that you think worthy of preservation, whether for historic or cultural reasons, for wildlife, as farmland, or recreational land talk with your legal or financial adviser. Then, call us at 989-772-5777, or email us at firstname.lastname@example.org. We are more than happy to discuss your options with us.