Designate a gift in your will or trust and retain ownership of your property during your lifetime. As the most flexible option, an estate gift allows you to leave your home or another property to IU in your will or trust while maintaining decision-making for the property during your lifetime. An estate gift is revocable so you can make a change if your circumstances evolve. You simply have to document your gift with a brief sentence or two in your estate plan, will or trust, which simplifies your estate administration and ensures your support for IU.
An estate gift
What a gift of real estate can help you accomplish
Consider your time
- Alleviate the burden of upkeep or selling a property yourself.
- Simplify your estate and the management of your current home.
Consider your finances
- Become eligible for a federal income tax deduction equal to the full fair market value of the property.
- Potentially eliminate capital gains tax on your property’s appreciation.
Consider your IU legacy
- Make an immediate, significant gift to IU.
How it works
Make an estate gift
- Let your IU development officer know that you’re considering a gift of real estate. Our team can guide you through some considerations and help you choose the best option for your situation and goals.
- When you’re ready to take the next steps with an estate gift, the Foundation’s Real Estate and Gift Planning teams can help with the documentation to make sure your desires for your estate will be carried out after your lifetime.
- You will work with your legal advisor to designate a gift to the IU Foundation in your will or trust.
- After your lifetime, your estate administrator will contact the IU Foundation to transfer the title of the property to the IU Foundation.
- If your gift also includes personal property, we will thoughtfully steward those belongings according to your wishes — to be curated for an IU collection, donated to an area nonprofit, monetized and added to the proceeds of the sale of your house, disposed of confidentially, or transported to loved ones.
- The IU Foundation will ready the property to be sold.
- The net proceeds will be used to fund the IU cause you’ve designated.