Gifts of Real Estate
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When appreciated real estate is given to Avon Old Farms School, capital gains taxes can be completely avoided and the full fair market value of the property is generally deductible for itemizers as a charitable contribution.
Contact us for more information about gifts of retirement account assets.
Gift of a Remainder Interest in a Personal Residence or Farm
A special provision of the tax law allows an immediate income tax charitable deduction for a gift of a remainder interest in your home or farm. With a remainder interest gift, you retain an absolute right to occupy the home or farm for your life (or the life of a family member). The property passes to us only after termination of the life estate(s).
The charitable deduction allowable for this future gift is the present value of our right to receive the property at some later date. The age of the life tenant is the primary factor in determining the present value of our deferred interest and the charitable deduction. The gift is deductible in the year of the transfer (subject to certain income limitations and assuming the donor itemizes).
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Questions? Please contact:
SARAH WALLACEDIRECTOR OF PLANNED GIVING AND RESEARCH |
| P: 860-404-4267 |
Where Next?
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Fund for Avon
Learn more about the Fund for Avon, our annual fund.
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Giving
We are able to provide our students with an extraordinary education and brotherhood thanks to our generous givers. Donate to Avon Old Farms today!
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Impact Report
In the 2023-24 fiscal year, the Avon Community came together in a great show of support for the school it loves.
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Make A Gift
Support our school by making a gift to the Fund for Avon today.
