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Planned Giving

Consider a Gift of Real Estate


If you’ve lost interest in home maintenance, grown tired of paying property taxes on a vacation home you no longer use, or need only a portion of the living space you currently own, you may be ready to make a move. But before you summon the energy to put your home on the market, think about a charitable gift.

If you would like to help fulfill our mission, your property can open the door to a unique giving opportunity: Donate the property to the Diocese of Baton Rouge, either now or whenever you no longer need it. You can give the property to us now, retain the use of it for life, give us partial use, place it in trust, or offer it as a bequest in your will.

Read more . . .

And, for additional information concerning Diocese of Baton Rouge Planned Giving options, please visit the “Plan My Legacy” page through the Office of Stewardship website: http://officeofstewardship.planmylegacy.org

Consider a Gift of Real Estate

If you’ve lost interest in home maintenance, grown tired of paying property taxes on a vacation home you no longer use, or need only a portion of the living space you currently own, you may be ready to make a move. But before you summon the energy to put your home on the market, think about a charitable gift.

If you would like to help fulfill our mission, your property can open the door to a unique giving opportunity: Donate the property to the Diocese of Baton Rouge, either now or whenever you no longer need it. You can give the property to us now, retain the use of it for life, give us partial use, place it in trust, or offer it as a bequest in your will.   

Let’s look at the various ways to donate real estate along with the tax savings and benefits of each.

Donate Property and Secure a Deduction for the Full Value

When you make a gift of real property that you have held for more than a year, you obtain an income tax charitable deduction equal to the property’s full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes.         

By donating the property to the Diocese of Baton Rouge, you also eliminate capital gains tax on its appreciation.

Give Your Home, but Enjoy Lifetime Use

Many donors find that their largest asset is their home, but they don’t consider using it as a gift because they can’t imagine living anywhere else.          

With a retained life estate, you give a personal residence or farm to the diocese but retain the right to occupy it for life. The property doesn’t have to be your primary home, but it must be a personal residence. You’ll still pay property taxes, maintenance costs and insurance, but you receive an immediate income tax charitable deduction for a portion of your property’s current value because the gift cannot be revoked.

Donate Real Estate and Obtain Income for Life from Your Gift

Instead of making a gift of real property now, you can use unmortgaged property to fund a charitable remainder trust. With this arrangement, you give the property to the trust, and the trust then pays income (within IRS limits) to you and, if you choose, to others for the rest of your lives. When the trust terminates, the diocese receives the remainder.           

Once the property is given to the trust, the trustee will likely sell it and invest the proceeds in income-producing securities, which become the source for lifetime income payments to you and any other recipient you name.        

You receive an income tax charitable deduction for a portion of the gift, and when you give appreciated property, you will not pay up-front tax on the capital gain.

Give Real Estate Through Your Will

If you are not comfortable making a gift of property right now, consider leaving it to the Diocese of Baton Rouge in your will or revocable living trust. This can be the perfect way to support the diocese because you are able to help us in the future without using assets today.       

Because your will can be changed at any time, you will not be able to take an income tax deduction. When you make a gift to the diocese through your will or trust, you support our work while creating lasting legacies in your memory or in memory of a loved one.

Wisely Consult Your Advisors

Gifts of real estate can be complex, depending on the property involved. Therefore, we always recommend you consult your professional advisors for help. You may have questions about appraisals, tax savings and other details. We would be happy to assist your attorney and other advisors in designing the most suitable plan for you. Please give it some thought.

 

Want to learn more about including a gift to the Catholic Diocese of Baton Rouge in your future plans? Contact Tammy V. Abshire, CFRE at  This email address is being protected from spambots. You need JavaScript enabled to view it.  or 225-242-0108 to help you get started.

Stewardship Today is a monthly devotional newsletter designed to assist Catholics everywhere in developing a greater understanding of the role of stewardship in everyday life.
All we are, and all we possess, are gifts from God for our use and for the blessing of others. Through wise stewardship, we invest our time, our talents and our treasures to the glory of God.

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