Charitable giving in Post Falls, Idaho is the transferring of money or some other asset to a charitable cause.

Most charitable donors, while they're alive, give their gifts in the simplest way permitted: handing the money or property they wish to donate over to the person or group they want to assist.

Some generous donors will sometimes give practically everything they own to charity. This is a wonderful thing to do, but it's not really practical - after all, just about everybody 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 help 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 Post Falls, Idaho

Legal arrangements recognized as "charitable trusts" are also utilized to give large amounts of money to charity. It can be used to make the gift quickly, or it can be set to take effect after the donor's 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 receives possession and control over the money. The charity is then free to use that money, but exclusively for the purposes laid out in the trust instrument.

The most frequent type of charitable trust in Post Falls, Idaho 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 valid. Sadly, there are quite a few fraudulent charities out there. The ideal 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

Do I Need a Post Falls, Idaho Attorney?

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 Post Falls, Idaho, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.