Gifts of Personal Property
How It Works
- You transfer a valuable painting, antique, or other personal property to Washington and Lee University.
- W&L may hold and display the property or use it in the furtherance of its mission.
- W&L may sell the property at some point in the future and use the proceeds for its mission.
- You receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, so long as the gift can be used by W&L to carry out its mission.
- In certain cases, you can use personal property to fund a life-income gift that provides you and/or other loved ones with an income now and benefits W&L in the future.
- Without using cash, you can make a gift that is immediately beneficial to Washington and Lee University.
- More details on gifts of personal property.
- Frequently asked questions on gifts of personal property.
- Contact us so we can assist you through every step.