Charitable Giving in Escondido, California
Charitable giving in Escondido, California is the giving of money or some other asset to a charitable cause.
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 often 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 allowing you to have your assets transferred to a charity after your death.
If you decide to make a sizable donation to a charity that will not actually occur until after your death, the easiest (and most normally-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.
Charitable Trusts in Escondido, California
Legal arrangements known as "charitable trusts" are also used to give large amounts of money to charity. It can be used to make the gift immediately, or it can be set to take effect after the donor's 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 Escondido, California, 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.
Most charitable donations are deductible from your state and federal taxable income. However, in order for your donations to count, the charity should be registered with the IRS and equivalent institution in
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When attempting to establish 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 Escondido, California, who will usually be able to make the process much easier.
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Life in EscondidoEscondido is located in San Diego County, California. The name "Escondido" is a Spanish word meaning "hidden". This is in reference to the city being situated in a valley and bordered by scenic hills. Escondido has a population of about 144,000 and is growing at a rapid rate.
Many major business and companies have their headquarters in Escondido, California. Some of the major employers for Escondido residents include Stone Brewing Company, and the San Diego Zoo Safari Park. Escondido's population growth is supported by the presence of several residential communities, including Hidden Trails and Valley Center.
Escondido, California is an excellent city for leisure and entertainment. The downtown area features a number of cafes, art galleries, and restaurants. During the spring and summer seasons, the city hosts "Crusin' Grand", which is a public automobile show held every Friday. Crusin' Grand features ultra-hip hot rods, historic cars, and live DJ music. Other fun events include the Grape Day Parade and Festival, the Community Wellness Expo, and an Independence Day Celebration.
Lawyers in Escondido assist their clients through a variety of legal services. Escondido, California attorneys also contribute to the community through participation in city planning and development projects. Escondido lawyers are knowledgeable of the various laws and regulations that are unique to the city.