Real Estate Gifts During Lifetime
If you donate real estate during your lifetime, it may ease your other financial burdens through tax benefits.
Example (primary residence):
A 75-year-old donor creates a retained life estate with a primary home valued at $500,000 in October 2009. She receives a tax deduction of $333,333 and can remain in her home as long as she chooses. The 2009 deduction is 26% higher than it was just two years ago, because interest rates are so low.