Charitable Giving in Muscle Shoals, Alabama

Find the Right Lawyer Now

Charitable giving in Muscle Shoals, Alabama is the donating of money or some other asset to a charitable cause.

The easiest way to make a charitable gift is to just give the money or property directly to the organization you want to help.

Some generous donors will sometimes give virtually everything they own to charity. This is a wonderful thing to do, but it's not really practical - after all, just about everyone has bills to pay. One solution to this is to put off such a generous donation until after death. This allows the donor to meet their obligations during life, while having the satisfaction of knowing that a cause they care about will be given a large amount of assistance after their death.

There are many arrangements authorizing you to donate some or all of your assets to a charitable cause after your death, but direct testamentary gifts (simply leaving money in your will to the charity of your choice) are the most prevalent.

Charitable Trusts in Muscle Shoals, Alabama

A charitable trust is an arrangement through which some amount of money or property is given to a charity after the donor's death, or during their life.

In a charitable trust, the money that is donated is still legally owned by the donor. But this is largely a formality, as the charity gets possession and control over the money. The charity is then free to use that money, but only for the purposes laid out in the trust instrument.

If a person decides to set up a charitable trust in Muscle Shoals, Alabama, they typically set up a "charitable remainder trust," since this is usually beneficial to both the donor (or their estate) as well as the charity. The operation of this type of trust is fairly simple: at a set time (typically the donor's death) the property that the donor wants to give to the charity is handed over, and the charity invests it. The charity benefits by getting to keep most of the money that these investments generate. The donor benefits because they also get a percentage of this income, for a period of time laid out in the trust agreement. Afterwards, the recipient of the donation gets it free and clear.

You should make sure the charity is registered with the Internal Revenue Service, and (if applicable) the taxation authority of .

Find a Muscle Shoals Lawyer that Specializes in Your Area of Need:

Do I Need a Muscle Shoals, Alabama Attorney?

Making a substantial charitable donation is a generous and admirable act. However, good intentions don't always lead to good results. To ensure that your donation has the most positive impact possible, you should discuss the matter in detail with representatives of the organization(s) you want to donate to. It might be advantageous to have a Muscle Shoals, Alabama lawyer handle these negotiations on your behalf, since they will likely understand the legal and financial complexities involved.

6 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Muscle Shoals

Charitable Giving Attorneys in the Largest AL Cities

Show Alabama Cities

Charitable Giving Lawyers in Other Alabama Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Wills, Trusts and Estates Lawyer
LegalMatch Wills, Trusts and Estates Lawyer Ayn T.

Ayn T.

SHELBY, AL

Wills, Trusts and Estates

Rating (1 users) *****
See Reviews
Wills, Trusts and Estates Lawyer
LegalMatch Wills, Trusts and Estates Lawyer John (J.D.) H.

John (J.D.) H.

CONECUH, AL

Wills, Trusts and Estates

Rating (1 users) **
See Reviews
General Practice Lawyer
LegalMatch General Practice Lawyer Jesse H.

Jesse H.

MONTGOMERY, AL

General Practice

Rating (4 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Joseph D.

Joseph D.

FAIRFAX, VA

Family Law

Rating (2 users) *****
See Reviews

Need a Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: