In Davidson County, Tennessee, "charitable giving" refers to the act of transferring money or property, for selfless motives. It necessarily means that the donor does not plan on receiving any direct compensation for whatever they have given.

The vast majority of charitable gifts are made using the most simple method allowed: giving the gift to the intended beneficiary.

What if, however, you want to give all or most of your assets to a charity, to really make a big difference? This is frequently not practical while the donor is alive, since they presumably have expenses, and want to maintain for themselves the lifestyle to which they're accustomed. Fortunately, there are a few arrangements authorizing you to have your assets transferred to a charity after your 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 Davidson County, Tennessee

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.

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 customary kind of charitable trust in Davidson County, Tennessee is a charitable remainder trust. This permits you to give as much money or property as you want to a charity. The money is then invested by the charity. The investments are typically fairly conservative, sacrificing large returns for security. The charity then returns a portion of these returns to the donor, or another person named by the donor, while keeping the rest. This lasts for a set period of time, at the end of which the charity gets full ownership of the original fund.

You should make sure the charity is registered with the Internal Revenue Service, and (if applicable) the taxation authority of .

Do I Need a Davidson County, Tennessee Attorney?

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 Davidson County, Tennessee lawyer handle these negotiations on your behalf, since they will likely understand the legal and financial complexities involved.