Charitable Giving in Sheridan, Arkansas

Find the Right Lawyer Now

Charitable giving in Sheridan, Arkansas is the giving of money or some other asset to a charitable cause.

The simplest 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 significant chunk of everything they own) to a charity? This is very generous, of course, but it's rarely possible during life, considering the expenses and commitments 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 allowing a person to have as much of their money as they want transferred to a charity of their choice 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 Sheridan, Arkansas

Charitable trusts are arrangements that involve handing possession (but not necessarily ownership) of money or property over to a charity, either 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.

If a person decides to set up a charitable trust in Sheridan, Arkansas, they usually set up a "charitable remainder trust," since this is usually beneficial to both the donor (or their estate) as well as the charity. The operation of this type of trust is fairly simple: at a set time (usually the donor's death) the property that the donor wants to give to the charity is handed over, and the charity invests it. The charity benefits by getting to keep most of the money that these investments generate. The donor benefits because they also get a percentage of this income, for a period of time laid out in the trust agreement. Afterwards, the recipient of the donation gets it free and clear.

Many charitable donations are deductible from your state and federal taxable income. But, in order for your donations to count, the charity should be registered with the IRS and equivalent institution in .

Find a Sheridan Lawyer that Specializes in Your Area of Need:

Do I Need a Sheridan, Arkansas Attorney?

When attempting to create a charitable trust, or make another charitable donation, the first thing you should do is discuss this with the organization you want to make the donation to. They will probably be able to advise you on how to donate your money in the way that will be most useful to them. And, of course, you should speak with an attorney in Sheridan, Arkansas, who will usually be able to make the process much easier.

1 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Sheridan

Charitable Giving Attorneys in the Largest AR Cities

Show Arkansas Cities

Charitable Giving Lawyers in Other Arkansas Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Joel C.

Joel C.

Grant, AR

Employment and Labor Law

Rating (19 users) *****
See Reviews
General Practice Lawyer
LegalMatch General Practice Lawyer Timothy W.

Timothy W.

Grant, AR

General Practice

Rating (3 users) *****
See Reviews
Personal Injury Lawyer
LegalMatch Personal Injury Lawyer Benson G.

Benson G.

Northumberland, PA

Personal Injury

Rating (4 users) ****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Basil L.

Basil L.

Ozaukee, WI

Criminal Law

Rating (5 users) ****
See Reviews

Need a Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: