Leaving a gift of real estate is way of leaving a gift to the Foundation with a value that is not just monetary and which has lasting practical benefit. Gifts of real estate may allow for a retention of life estate in the property (which means that a donor will have lifetime access to the property). The donor also receives the benefit of an initial income tax deduction as well as the bypassing of any capital gains tax. A federal estate tax is achieved, and provisions for conservation can be drafted as appropriate.