Securities and Exchange Commission (SEC) as: a bank, insurance company, registered investment company, business development company, or small business investment company;an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;a charitable organization, corporation, or partnership with assets exceeding $5 million;a director, executive officer, or general partner of the company selling the securities;a business in which all the equity owners are accredited investors;a natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1 million at the time of the purchase, or has assets under management of $1 million or above, excluding the value of the individual's primary residence;[10][11]a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;[12] ora trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes."

Rent out the place for as much as she can get, and if you want to be charitable just give her neice a monthly stipend of like $500 a month or whatever to help them out.

Just like folks that move their properties to charitable remainder trusts.. these are as much as anything tax plays.. and then the foundation donates it cash flow to the various charities that their family supports.  

@Wells MangrumYou'll want to work closely with your CPA or engage a CPA who will examine your facts and circumstances as donation of appreciated (FMV > adjusted basis) assets previously used in a trade or business is complex and not as straightforward as donation of cash or appreciated stock.Generally speaking it's advisable to hold the property for at least a year and you'll get no benefit for the portion of the unrealized gain attributable to Sec 1245 Recapture & Sec 1250 Unrecaptured Gain (Treas Reg §1.170A-4).Also very advisable to have a 'qualified appraisal' done on donations of real property to charitable organizations.

In your proposal you would need to present all your relevant research and your plan on how you are going to go about doing this.I would then present your plant to the huge private foundations which are very philanthropic when it comes to this very topic for example: Melville Charitable Trust, Anne E.

But I wanted to do more, in part because I just want to do more charitable work nowadays, in part because this one happens to be a really cool opportunity, and in part because this is Brian's baby and that's that...So - we are donating 20% of Gross to A Heros Home.

Originally posted by @Tim Hoffman: I DO want to leave as much as I can to MY charities and heirs and not the Govt.Another strategy you might consider is the Qualified Charitable Distribution (QCD).

@Samantha Miller There is a big difference being charitable and conscientious in one's personal life and running a business/investments.

I do this: 5% income to Roth 401k (5% company match)10% to Roth IRA20% Saving for the next down-payment(s) (real estate)10% Self Directed investments (Syndicating/Crowdfunding/dividend growth investing stocks, etc.)30% Living expenses (everyday bills) (No housing costs/ no consumer debt)5% Saving for miscellaneous expenses (things like oil changes, snow tires, etc)10% Saving for large purchases (next vehicle, vacations)5% Unallocated / Charitable givingThis works for me because I have no consumer debt or student loans, and my Emergency fund is already funded.

I get them involved to help them deal reverently with the important things left behind (the things folks feel guilty about getting rid of, even though they don't really want them), and for what ever is left over, I roll out trucks from the Fort Worth Hope Center who will literally clean the house out and recycle or give to the needy anything left over after the estate sale.That leaves the seller with a check from the estate sale, a tax credit from a charitable organization, AND a check from me.