A donor should remember that all tangible personal property, such as paintings and other works of art, will be subject to estate taxes. By giving such items to McLaren during your lifetime or at death, you may realize certain benefits and discover a new way to make a gift. Gifts of tangible personal property, which are related to the hospital's purpose, generally produce a deduction equal to the fair market value of the property. Gifts that do not have a related purpose may generate a lower tax deduction but can still be attractive for contribution. Certain gifts of tangible personal property require approval by the McLaren Foundation Board.