Charitable Giving in Palmdale, California
Charitable giving in Palmdale, California is the transferring of money or some other asset to a charitable cause.
The vast majority of charitable gifts are made using the most simple method allowed: giving the gift to the intended beneficiary.
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 permitting 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 frequent.
Charitable Trusts in Palmdale, California
Charitable trusts are normally used for very large donations, and can be made during the donor's life, or after their death.
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.
The most frequent type of charitable trust in Palmdale, California is a charitable remainder trust. Under this arrangement, you give a particular 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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If you want to set up a charitable trust, you should first speak with a representative of the charity you want to support. You should also talk with an accomplished attorney in Palmdale, California, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.
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Charitable Giving Attorneys in the Largest CA Cities
Life in PalmdalePalmdale, California is a thriving and expanding city with a population of about 153,000 people. It is situated in the northern area of Los Angeles, California. Palmdale is locally known as a commuter and family-oriented community, and boasts a high quality of life due to revitalization projects. The city is nicknamed the "Aerospace capital of the U.S.", on account of the many aerospace companies that are active there.
In particular, Lockheed Martin and Northrop Grumman (both aerospace companies) are the largest employers in Palmdale, California. Many other types of manufacturing companies have relocated to the city due to special zoning laws for businesses. Special economic zones in Palmdale offer state and federal tax breaks to businesses that relocate to the city.
Palmdale, California is also home to many local sites of interest. For example, Antelope Valley Mall is located in the city and houses a shopping space of over 1 million square feet. The Palmdale Amphitheater seats 10,000 people and is the site for the summer event, "Starlight Concert Series". Palmdale residents also enjoy visiting the Rancho Vista Golf Course, which is a PGA-class golf facility.
Lawyers in Palmdale, California have experience in a variety of legal matters. Palmdale lawyers are available to address the individual needs of their clients. Palmdale lawyers can also provide assistance with the unique laws that regulate the area.