Charitable Giving in Santa Monica, California

Find the right Charitable Giving attorney in Santa Monica, CA

Charitable giving in Santa Monica, 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 possible: giving the gift to the intended beneficiary.

Some generous donors will sometimes give virtually everything they own to charity. This is a wonderful thing to do, but it's not really practical - after all, just about everyone has bills to pay. One solution to this is to put off such a generous donation until after death. This allows the donor to meet their obligations during life, while having the satisfaction of knowing that a cause they care about will be given a large amount of assistance after their death.

If you want to make a donation that's effective after your death, there are a few ways to do this. The most common method is also the simplest: leaving the charity whatever property you want to give to it in your will - this is known as a "testamentary gift."

Charitable Trusts in Santa Monica, California

Charitable trusts are usually used for very large donations, and can be made during the donor's life, or after their death.

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 common type of charitable trust in Santa Monica, California is a charitable remainder trust. Under this arrangement, you give a certain amount of money or property to a charity. The charity then invests this money, giving you or a named beneficiary a portion of the income generated from these investments for a set amount of time. Once this expires, the money that was initially invested goes to the charity, 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 .

Do I Need a Santa Monica, California Attorney?

If you want to set up a charitable trust, you should first speak with a representative of the charity you want to support. You should also talk with an experienced attorney in Santa Monica, California, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Santa Monica

Santa Monica, California is an affluent beachfront city in Los Angeles County. It has a population of about 90,000 people.

It is known for its scenic setting on the shores of the Santa Monica Bay, its laid-back culture, and affluent population.

Many notable businesses and organizations have their headquarters in and near Santa Monica, California, providing a major boost to the city's economy. These companies include Universal Music Group, Lions Gate Films, the RAND Corporation, and others. Many other companies also have branch offices in Santa Monica, California including Google, Volkswagen, and Microsoft.

These companies employ and retain a large number of Santa Monica, California lawyers, many of whom have very sophisticated and successful practices.

Accordingly, there's almost certainly a Santa Monica, California attorney who can help you with whatever legal issue you might have. Santa Monica, California lawyers are ready to hear your case.

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