In addition to making an outright irrevocable gift of residential, commercial, or undeveloped real estate during your lifetime, you can make a gift of real estate to the Foundation through your will. Simply describe the property, in full detail, in your will or codicil.
You can also transfer the deed to your property to the Foundation while retaining the right to live there for your lifetime. You would continue to take care of the property, pay the taxes, and receive any income it generates. However, because you have made a gift of the property by deed, it will not pass through probate after your death. You will also be able to take a deduction on your income tax return during the year you make your gift.
Gifts of Personal Property
Gifts of personal property, cars, including art, jewelry, antiques, and collectibles, can be an effective way to provide support for the Foundation. They can be used to establish a charitable trust or the property can be given directly to the Foundation.