Charitable Giving in Grand Junction, Colorado

Find the right Charitable Giving attorney in Grand Junction, CO

Charitable giving in Grand Junction, Colorado 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.

What if, on the other hand, a donor wishes to give everything they own (or a significant chunk of everything they own) to a charity? This is very 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 allowing a person to have as much of their money as they want transferred to a charity of their choice 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 Grand Junction, Colorado

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 common kind of charitable trust in Grand Junction, Colorado is a charitable remainder trust. This allows you to give as much money or property as you want to a charity. The money is then invested by the charity. The investments are usually fairly conservative, sacrificing large returns for security. The charity then returns a portion of these returns to the donor, or another person named by the donor, while keeping the rest. This lasts for a set period of time, at the end of which the charity gets full ownership of the original fund.

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

Do I Need a Grand Junction, 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 Grand Junction, Colorado attorney, who can help iron out the more technical details.

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

Life in Grand Junction

Grand Junction, Colorado is a home-rule municipality, and the county seat of Mesa County, Colorado. According to a Census estimate from 2009, Grand Junction has a population of about 59,000 people. The city is located on the Colorado river, near where it receives the Gunnison River, hence the name "Grand Junction." Modernly, the city serves as an extremely important hub for commerce and transportation in its region. Grand Junction also grew rapidly in the 1970s and 80s, thanks to large deposits of oil shale. This was when technologies used to extract oil from shale became widely available. However, extracting oil from shale is still more expensive than simply drilling for it, and when oil prices began to decline, it ceased to be economically viable. This led to significant economic hardship for the region. In recent years, however, the economy of Grand Junction, Colorado has diversified and stabilized, eliminating the risks that arise when an economy becomes dependent on a single industry. It is a vibrant center for many industries, including healthcare, agriculture, livestock, and tourism. Grand Junction is near a major mountain resort, and it has become a popular destination for wealthy travelers. If you live in Grand Junction, and are facing any legal issue, whether it involves starting a business, adopting a child, taking out a mortgage, or writing a will, the chances that you'll be able to find a good Grand Junction, Colorado lawyer are excellent.

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