Many people find that real estate constitutes a substantial portion of their net worth.
In past decades the cost of residences and other real property has skyrocketed in many parts of the country. The problems and opportunities resulting from this real estate boom may affect how you would consider making a major gift to Averett College. Besides having the satisfaction of making a very substantial gift to Averett College, you would be entitled to an income tax charitable deduction equal to the full fair market value of the property, less any outstanding mortgage. The property would also be removed from your taxable estate. This might be a particularly good option if you own highly appreciated real property.