Charitable Giving in Buckeye, Arizona
Charitable giving in Buckeye, Arizona 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 ways you can donate some or all of your property or money to a charity after your death, if you wish to do so. Direct testamentary gifts are the most common and the most simple way to accomplish this. A testamentary gift simply entails giving the money or property directly to the charity, through a provision in your will.
Charitable Trusts in Buckeye, Arizona
A charitable trust is an arrangement through which some amount of money or property is directed to a charity after the donor's death, or throughout their life.
Under a charitable trust, the money going to the charity technically still belongs to the donor. Nonetheless, the charity, acting as a trustee, has power to use it for charitable purposes (what the money can and can't be utilized for should be clearly laid out in the trust).
If a person decides to set up a charitable trust in Buckeye, Arizona, 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.
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
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If you want to create a charitable trust, you should first talk with someone in charge of the charitable organization you wish to help. They will be able to assist you in setting up the trust, or advise you of their preferred method of donation. This will help you confirm that your donation is as effective in helping the charity as it can possibly be. It is also a good idea to speak with a Buckeye, Arizona attorney, who can help iron out the more technical details.
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Life in BuckeyeApproximately 50,876 people call Buckeye, Arizona home. Buckeye is located in Maricopa County and is a popular suburb of Phoenix.
What is great about Buckeye is that it is a small area filled with diversity! Buckeye is home to Native Americans, Asians, Blacks, Whites, Hispanics, and Latinos. Alongside the diversity is the area's well-planned structure. Buckeye has about thirty well planned communities, not including the commercial areas. Popular attractions include Douglas Rance, Sun Valley Villages, Spurlock Ranch, Southwest Ranch, and the Sundance Towne Center.
Being a part of Phoenix, Buckeye residents have prominent law firms with excellent attorneys nearby to handle their legal needs. Phoenix has law firms of all sizes, with attorneys practicing in all areas of law. Therefore, no legal inquiry can remain unattended.
Overall, Buckeye is a perfect example of a close Arizona community that enjoys the quiet desert ambiance, yet is close enough to the metropolitan area of Phoenix. All in all, Buckeye residents enjoy the best of both worlds!