In Beckley, West Virginia, charitable giving is simply the act of giving money or property to a charitable cause, without the expectation of direct compensation. This is usually done for selfless reasons.

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

Some people, however, may be particularly dedicated to a certain cause, giving rise to a desire to donate a very large percentage of their assets to it. However, during life, this is often infeasible, since people have their own expenses that they have to cover. So, people often put off this donation until after their death.

There are many arrangements allowing 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 common.

Charitable Trusts in Beckley, West Virginia

Charitable trusts are usually used for very large donations, and can be made during the donor's life, or after their death.

In a charitable trust, the property is still technically owned by the donor, but the recipient retains possession and control over it. As the trustee, the charity is free to use the money for any purpose laid out in the trust agreement. With a charitable trust, trustees are generally only allowed to use the money to advance their organization's charitable mission.

The most common type of Beckley, West Virginia charitable trust is known as a "charitable remainder trust." Under this arrangement, some of your money or property is given 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.

Wanting to help a charitable cause is, of course, a good thing. However, some people seek to take advantage of our good intentions through fraudulent charities. If you want to help ensure that any money you donate to an organization is actually used for a charitable cause, and that your donation will be tax-deductible, you should check to see that the organization is actually tax-exempt. You can find this information from the IRS and/or the agency responsible for taxation in

Do I Need a Beckley, West Virginia Attorney?

If you wish to set up a charitable trust, you should consult with the organization directly. They often know the easiest way to direct any charitable giving to their organization. You should also speak with a good trusts and estates attorney in Beckley, West Virginia, who can help ensure that your intentions are carried out.