Charitable Giving in Opp, Alabama

Find the Right Lawyer Now

Charitable giving in Opp, 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 essentially 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 Opp, 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.

While the money, for a time at least, is still technically owned by the donor, it is possessed and controlled by the charity, which acts as a trustee. The trustee is then able to use the money for the charitable purposes which have been laid out in the agreement that first appointed the trust.

In Opp, Alabama, a "charitable remainder trust" is the most recognized kind of charitable trust. This permits the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (usually in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will generate, becomes the legal property of the charity, to dispose of as it pleases.

Most charitable donations are deductible from your state and federal taxable income. However, in order for your donations to count, the charity should be registered with the IRS and equivalent institution in .

Find a Opp Lawyer that Specializes in Your Area of Need:

Do I Need a Opp, Alabama Attorney?

When attempting to establish a charitable trust, or make another charitable donation, the first thing you should do is discuss this with the organization you want to make the donation to. They will probably be able to advise you on how to donate your money in the way that will be most useful to them. And, of course, you should speak with an attorney in Opp, Alabama, who will typically be able to make the process much easier.

3 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Opp

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
General Practice Lawyer
LegalMatch General Practice Lawyer Jesse H.

Jesse H.

COVINGTON, AL

General Practice

Rating (4 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Scott J.

Scott J.

SHELBY, AL

Family Law

Rating (4 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Barry T.

Barry T.

HILLSBOROUGH, FL

Criminal Law

Rating (1 users) *****
See Reviews

Need a Lawyer?

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