Charitable Giving in Torrance, California

Find the right Charitable Giving attorney in Torrance, CA

Charitable giving in Torrance, 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.

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

Charitable Trusts in Torrance, California

A charitable trust is an arrangement through which some amount of money or property is given to a charity after the donor's death, or during their life.

The money is still technically owned by the donor, but the charity, serving as a trustee, has the right to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.

If a person decides to set up a charitable trust in Torrance, 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.

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

Do I Need a Torrance, 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 Torrance, California attorney, who can help iron out the more technical details.

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

Life in Torrance

Torrance, California is a city located in the southwestern region of Los Angeles County. Within city limits, Torrance has over 1.5 miles of unbroken beachfront, to which most of its 145,000 residents have access.

Torrance can trace its early history to a 1784 Spanish land grant. Wealthy landowners established several large ranches in the area that would eventually become Torrance.

Modernly, Torrance is a vibrant, environmentally-conscious community. It is home to one of the very few wetlands situated in an urban area. They are set aside as a nature preserve, which was once set for oil drilling. The efforts of conservationists and Torrance, California environmental lawyers prevented this from happening, however.

Many foreign corporations have their American headquarters in Torrance, including Toyota and Honda. These companies employ a large number of people in a wide range of professions, including local Torrance, California lawyers who represent the interests of their employers in the United States.

If you live in Torrance, California, and find yourself in need of legal services, it's very likely that there's a Torrance, California attorney who can help you out.

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