Charitable Giving in Goodyear, Arizona

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Charitable giving in Goodyear, Arizona is the donating of money or some other asset to a charitable cause.

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

What if, on the other hand, a donor wishes to give everything they own (or a substantial chunk of everything they own) to a charity? This is quite generous, of course, but it's rarely possible during life, considering the expenses and commitments we all have. On the other hand, most people don't think they'll be needing their money after they die. Knowing this, many arrangements have been created authorizing a person to have as much of their money as they want transferred to a charity of their choice after their death.

There are many ways you can donate some or all of your property or money to a charity after your death, if you wish to do so. Direct testamentary gifts are the most common and the most simple way to accomplish this. A testamentary gift simply entails donating the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Goodyear, Arizona

Charitable trusts are arrangements that involve handing possession (but not always ownership) of money or property over to a charity, either during the donor's life, or after their death.

Under a charitable trust, the money going to the charity technically still belongs to the donor. Nonetheless, the charity, acting as a trustee, has power to use it for charitable purposes (what the money can and can't be utilized for should be clearly laid out in the trust).

The most typical type of Goodyear, Arizona charitable trust is identified as a "charitable remainder trust." Under this arrangement, some of your money or property is directed to your charity of choice. The charity then invests the money, while giving a percentage of the income generated by these investments to you or a beneficiary of your choice, for a determinate period of time. Once this time is up, ownership of the original fund transfers to the charity.

If you wish to set up a charitable trust in you should check with the IRS and equivalent state agencies to confirm that the charity you want to help is registered with them. This will help make sure that your money is utilized for a good cause (and not to line somebody's pockets) and that your contribution will be tax-deductible.

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Do I Need a Goodyear, Arizona Attorney?

If you wish to set up a charitable trust, you should consult with the organization directly. They frequently know the simplest way to direct any charitable giving to their organization. You should also speak with a reliable trusts and estates attorney in Goodyear, Arizona, who can help ensure that your intentions are carried out.

9 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Goodyear

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Life in Goodyear

In 1917, Goodyear Tire and Rubbery Company bought 16,000 acres of land to cultivate cotton for tire threads.  This land came to be known as Goodyear.  Goodyear is home to approximately 65,275 people and is located in Maricopa County, Arizona. 

Besides the famous tire company, Goodyear is also known because the Cleveland Indians baseball team moved their spring training facility to Goodyear from Florida.  Goodyear then funded a spring training complex, worth $33 million, for the Cleveland Indians and Cincinnati Reds.  The ballpark seats about 10,000 people and is one of the popular attractions to see.

Goodyear is home to many small to mid-size law firms with many capable attorneys able to handle any and all legal inquiries.  Therefore, Goodyear residents can stay assured that their legal needs will be well-handled by the legal force in Goodyear, Arizona. 

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