Real Estate

Here are some reasons you may want to consider a gift of real estate:

  • You would like to make a gift to UL while retaining your cash and liquid assets.
  • You are discouraged from selling appreciated property because of substantial capital gains tax liability.
  • You own rental or commercial property that has become a management burden.
  • You are considering moving to a smaller home or retirement complex.
  • You would like to receive lifelong income from your property.

 

Five ways to make a gift of real estate

  • Outright gift.
  • Gift with retained life use.
  • Give your residence, vacation home, farm, or other real property to UL and continue to use it during your and your spouse's lifetimes.
  • Life income agreement. Give your property to a trust naming UL Lafayette as the remainder beneficiary. The trust sells the property and invests the proceeds, paying you an income for life.
  • Bargain sale. Sell your property to the university at a reduced price and you will receive both cash and an income tax charitable deduction.
  • Gift by bequest in your will.

 

How you can use real estate to fund a life income agreement

An example:

Mrs. Broussard wants to make a gift to UL to establish a named endowment in her favorite college, the College of Education, at the University, but her limited annual income prevents her from making a cash gift.

She has property that was purchased 35 years ago, and the knowledge of a large capital gains tax has kept her from selling the property and reinvesting the proceeds. By using this property, valued at $125,000, to fund an 8% life income trust, Mrs. Broussard makes a gift to the university and increases her annual income at the same time.

Her benefits include:

  • Additional income for life, initially about $10,000 annually
  • A current income tax charitable deduction
  • Avoidance of capital gains tax on the property when it is sold
  • Reduction of any future estate taxes
  • Elimination of management concerns and property taxes
  • Membership in the Louisiana Heritage Society™
  • A gift to UL Lafayette after her lifetime to endow a scholarship in her name in her favorite college, the College of Education

 

For more information about a gift of Real Estate to UL, please contact the Office of Development at (337) 482-0922 or email: dcomeaux@louisiana.edu

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impact_title Support UL Lafayette with a Monthly Gift.
impact_summary The gift occurs on the 15th of every month.
give_amounts 20,50,100,500
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