Charitable giving in Brush, Colorado is the transferring 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, on the other hand, a donor wishes to give everything they own (or a considerable chunk of everything they own) to a charity? This is extremely generous, of course, but it's rarely possible during life, considering the expenses and obligations we all have. On the other hand, most people don't think they'll be needing their money after they die. Knowing this, many arrangements have been created permitting a person to have as much of their money as they want transferred to a charity of their choice after their death.

There are many arrangements permitting 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 frequent.

Charitable Trusts in Brush, Colorado

Legal arrangements recognized 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 typically only authorized to use the money to advance their organization's charitable mission.

If a person decides to set up a charitable trust in Brush, Colorado, they normally 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 (normally 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 Brush, Colorado 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 Brush, Colorado attorney, who can help iron out the more technical details.