No capital gains taxation on past appreciation value. Reduction of the contributor's taxable estate, by the value of the gift. The actual income tax savings realized will depend on the donor's income tax bracket. An outright gift of specific real estate to Loma Linda, through the individual contributor's will, establishes a 100 percent charitable deduction for estate tax purposes, with no limit on the amount. The larger the taxable estate, the greater the discount on the net cost of a gift by will.
Estate taxation is an increasingly important consideration.
Although a charitable gift by will provides no current income tax advantages, it can be the most acceptable method for some contributors. In many instances it can be accomplished by a simple codicil to an existing will. Return to top of page . A contributor may combine the objectives of a gift by will and the benefits of a trust through the creation of a testamentary charitable remainder unitrust or a testamentary charitable remainder annuity trust. Surviving beneficiaries are relieved of the management responsibilities and problems involved in real estate ownership.