Donating property to the Texas A&M Foundation provides tax advantages while relieving you of the day-to-day responsibilities of property ownership. It also will establish your legacy at Texas A&M to fuel the spirit and mind of current and future Aggies.
The Texas A&M Foundation accepts multiple types of property for the benefit of Texas A&M, including residential, commercial, farm and ranch land, forest land, and oil and gas interests.
You can give property to the Foundation in four ways:
You may own a property that you do not use, such as a vacation home, an investment property that has become a hassle or a highly appreciated property you are hesitant to sell in light of substantial capital-gains taxes.
You might consider a gift of real estate through your will if you would like to continue to enjoy ownership of your property during your lifetime and reduce your estate-tax liability.
Charitable Remainder Unitrust
If receiving an immediate charitable income-tax deduction and payments for life would benefit your financial situation, you could consider supporting Texas A&M with a charitable remainder unitrust.
Retained Life Estate
To support Texas A&M and receive an immediate charitable income-tax deduction while retaining the right to use your property for your lifetime, you should choose a retained life estate for your gift to the Foundation.
By donating property to the Foundation, you avoid marketing the property and the capital-gains taxes triggered by its sale. Leaving property to heirs can create an estate-tax liability and could force the sale of other assets that might otherwise appreciate. Depending on the gift method you choose, you could also receive a significant charitable income-tax deduction and/or an increase in income.
The Texas A&M Foundation evaluates all potential gifts of real estate for marketability and potential environmental concerns. We ask donors to supply detailed information on the property before accepting the gift.