Charitable Giving in Buena Park, California

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Charitable giving in Buena Park, California is the donating of money or some other asset to a charitable cause.

The vast majority of charitable gifts are made using the most simple method feasible: 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. Luckily, 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 Buena Park, California

Legal arrangements identified 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.

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 initially formed the trust.

In Buena Park, California, a "charitable remainder trust" is the most typical kind of charitable trust. This permits the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (usually in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will produce, becomes the legal property of the charity, to dispose of as it pleases.

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 .

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Do I Need a Buena Park, California 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 Buena Park, California, who will typically be able to make the process much easier.

31 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Buena Park

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Life in Buena Park

Buena Park, California has a population of over 80,000 and is located in the northwestern parts of Orange County.  The city is nicknamed "the Center of the Southland", due to its central location in the county.  Many tourist attractions can be found in Buena Park, most notably the Knot's Berry Farm amusement park.

In Buena Park, many of its famous attractions can be found in the "E-Zone" district.  Knott's Berry Farm, Knott's Soak City, and several other popular establishments are situated in the district.  The E-Zone is also adjacent to Anaheim, home of Disneyland.  Thus, the economy of Buena Park has benefited greatly from the operation of the E-Zone district.  Other top employers in Buena Park, California include major companies such as ProLogis and Nutrilite.

Other popular places to visit in Buena Park are its local historic park, the Ralph B. Clark Regional Park, and Los Coyotes Country Club.  Los Coyotes Country Club is a world-renowned establishment featuring three unique 9-hole course layouts.  Los Coyotes also boasts many of the county's most desirable real estate properties.

Lawyers in Buena Park, California file many of their claims at the Superior Court of California, County of Orange, which is located nearby.  Buena Park attorneys assist their clients in a number of different legal claims and issues.  Many of them are members of multiple bar associations and legal organizations.

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