Charitable Giving in Inglewood, California

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Charitable giving in Inglewood, 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 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 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. Fortunately, there are a few arrangements authorizing you to have your assets transferred to a charity after your death.

There are many ways to give a charitable gift that does not take effect until after the donor dies. The easiest and least intricate way to do this is a simple testamentary gift in a will - wherein a specific amount of the donor's money is transferred to the charity upon the donor's death.

Charitable Trusts in Inglewood, California

A charitable trust is an arrangement by which a large amount of money can be given to a charity after the death of the donor, or during the donor's life.

In a charitable trust, the money that is donated is still legally owned by the donor. But this is largely a formality, as the charity gets possession and control over the money. The charity is then free to use that money, but only for the purposes laid out in the trust instrument.

The most typical type of Inglewood, California charitable trust is identified 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.

You should make sure the charity is registered with the Internal Revenue Service, and (if applicable) the taxation authority of .

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Do I Need a Inglewood, California Attorney?

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 ensure 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 Inglewood, California attorney, who can help iron out the more technical details.

33 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Inglewood

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Life in Inglewood

Inglewood, California is a city in Los Angeles County. It currently has a population of around 110,000 residents. It is located in the South Bay area of the Greater Los Angeles region.

Inglewood, California is a vibrant, diverse community. It is extremely ethnically diverse, as well as economically. Its relatively affordable housing makes it attractive to working class individuals, and its proximity to the Los Angeles area makes it attractive to middle-class professionals, such as lawyers.

Inglewood, California is noted for being the headquarters of the D.A.R.E. organization, which seeks to educate schoolchildren and young adults about the dangers of getting involved in violence and illegal drugs. D.A.R.E. employs hundreds of people at its headquarters, including several Inglewood, California attorneys.

If you live in Inglewood, California and are need of legal advice or legal services, you should not hesitate to call an Inglewood, California attorney as soon as possible.

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