Gifts of Real Estate in Your Will or Trust: Getting Started

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If you've thought about making a gift to Gustavus Adolphus College but aren't ready to give up your assets today, consider leaving a gift of real estate to us after your lifetime through your will or revocable living trust.

This method—called a bequest—allows you the flexibility to change your mind at any time since your gift isn't actually complete until after your lifetime. Plus, if your estate will be subject to estate taxes, this gift entitles your estate to a federal estate tax charitable deduction for the full value of the property, reducing any estate taxes owed upon death.

How It Works
The official legal bequest language for Gustavus Adolphus College is: "I, [name], of [city, state, ZIP] give, devise and bequeath to Gustavus Adolphus College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose [or specify purpose]."

Gift of Real Estate
You
You
1
Include Gustavus Adolphus College in your will or trust.
2
Your estate is entitled to receive a federal estate tax charitable deduction.
Will or Trust
3
The property is sold or kept by Gustavus Adolphus College.
Gustavus Adolphus College

How You Benefit
In addition to freeing your loved ones from the costs and responsibilities of ownership, leaving Gustavus Adolphus College your real estate after your lifetime offers these benefits:
  • Simplicity. Just a few sentences in your will or trust are all that is needed to complete your gift.
  • Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
  • Tax relief. The gift entitles your estate to a charitable estate tax deduction, reducing the amount of federal estate taxes your estate may owe the IRS.

eBrochures
Request a free guide to learn more about the tax benefits of a gift of real estate.

Please contact Jackie Peterson at 507-933-7543 or jpeters9@gustavus.edu if you have any questions about this way to leave your mark at Gustavus Adolphus College.