By making a gift of real estate, you can leverage a significant asset for your benefit and the College, the Graduate School of Arts and Sciences, or the Harvard John A. Paulson School of Engineering and Applied Sciences. You can save on taxes, increase your income, and reduce the burden of maintaining or selling your property, and make a significant gift to Harvard. Gifts can be made with residential, commercial, or undeveloped real estate.
Types of Gifts
You can make an outright gift of either a percentage interest or an entire property.
By funding a trust or annuity with your gift, you can receive a well-managed income stream for life for you, your spouse, or other beneficiaries. You also receive an income tax deduction for a portion of your gift, avoid capital gains tax, and save on gift and estate taxes. In the future, your gift will benefit Harvard as you choose, including a named endowment fund.
Through a retained life estate arrangement, you can donate your home to Harvard and continue to live there for your lifetime. You are entitled to an immediate income tax deduction for a portion of the appraised value. Moreover, the property is removed from your estate for tax purposes. Should you decide to move out of your home, you and Harvard can sell the property together and divide the proceeds proportionately. Alternatively, you may be able to transfer your remaining life interest to Harvard in exchange for an annuity.
Phone: 617-496-3205 or
1-800-VERITAS (ask for the Office of Gift Planning)