Charitable Giving in Bakersfield, California
Charitable giving in Bakersfield, California 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.
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 obligations 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.
If you decide to make a sizable donation to a charity that will not directly occur until after your death, the easiest (and most normally-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.
Charitable Trusts in Bakersfield, California
Legal arrangements identified as "charitable trusts" are also used to give large amounts of money to charity. It can be used to make the gift immediately, or it can be set to take effect after the donor's death.
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.
The most prevalent type of charitable trust in Bakersfield, California is a charitable remainder trust. Under this arrangement, you give a specific amount of money or property to a charity. The charity then invests this money, giving you or a named beneficiary a portion of the income generated from these investments for a set amount of time. Once this expires, the money that was initially invested goes to the charity, free and clear.
Obviously, if you want to help a good cause, you want to make sure that any charity you donate to is legitimate. Sadly, there are quite a few fraudulent charities out there. The best way to do this is to check and make sure that the charity is registered as a tax-exempt organization with the IRS, and the tax authorities in
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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 Bakersfield, California lawyer handle these negotiations on your behalf, since they will likely understand the legal and financial complexities involved.
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Life in BakersfieldBakersfield, California is a city of over 300,000 people, located in Kern County, roughly at the midpoint between Los Angeles and Fresno. Bakersfield is considered one of the sunniest places in the United States.
Bakersfield, California's economy mostly revolves around oil and agriculture. Its other sectors largely operate in support of those major industries. In fact, Kern County is the most oil-productive county in the U.S. - and is responsible for about 10% of America's domestic oil production. Kern County is also one of the most agriculturally-productive regions in the United States, and is particularly well-suited for growing grapes, citrus fruit, roses, and almonds. Needless to say, Bakersfield is, and will continue to be, a very important part of America's economy.
More recently, however, other industries (such as manufacturing) have moved into Bakersfield, California, thanks to an abundance of inexpensive land.
In addition to the steady economic stimulus provided by industry, Bakersfield, California, has another relatively stable economic lifeline: a large four-year university. California State University, Bakersfield has approximately 7,800 students, from all over California, and the country.
It should go without saying, then, that there is no shortage of Bakersfield, California lawyers. Whatever legal issue you or a loved one might be facing, a Bakersfield, California lawyer can help.