Charitable Giving in Thornton, Colorado

Find the right Charitable Giving attorney in Thornton, CO

Charitable giving in Thornton, Colorado 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 possible: giving the gift to the intended beneficiary.

What if, on the other hand, a donor wishes to give everything they own (or a substantial chunk of everything they own) to a charity? This is quite 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 authorizing a person to have as much of their money as they want transferred to a charity of their choice after their death.

If you decide to make a sizable donation to a charity that will not directly occur until after your death, the easiest (and most commonly-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Thornton, 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 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 usually only permitted to use the money to advance their organization's charitable mission.

If a person decides to set up a charitable trust in Thornton, Colorado, they typically 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 (typically 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 Thornton, Colorado Attorney?

Making a substantial charitable donation is a generous and admirable act. However, good intentions don't always lead to good results. To ensure that your donation has the most positive impact possible, you should discuss the matter in detail with representatives of the organization(s) you want to donate to. It might be advantageous to have a Thornton, Colorado lawyer handle these negotiations on your behalf, since they will likely understand the legal and financial complexities involved.

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

Life in Thornton

The city of Thornton, Colorado has a population of about 118,000 and is located in Weld and Adams counties. Thornton's location near the city of Denver and near the Rocky Mountains allows for ample opportunities for business, residence, and recreational activities. Thornton's community is marked by a high degree of volunteerism and participation in local events.

Thornton, Colorado is a unique city in that it actively pursues development of recreation programs and facilities. Overall, Thornton boasts over 80 city parks and more than 1,000 acres of land designated for public parks. The city also maintains numerous athletic fields, swimming pools, tennis courts, and gymnasiums. Indoor and outdoor facilities provide Thornton residents with ample opportunities for leisure activities year-round.

There are many opportunities for business and retail shopping in Thornton, Colorado. Popular places for residents and tourists to visit include Larkridge Mall, Thorncreek Crossing Shopping Center, and Thornton Town Center. These locations offer many choices for restaurants and national retail stores. Thornton is also surrounded by nine major colleges and universities within a 45-mile radius. These include Regis University and University of Denver. Many Thornton residents work at these institutions, and events and festivals are often held on the campuses.

Lawyers in Thornton, Colorado offer legal services in a broad range of fields. Many Thornton lawyers are members of multiple state and county bar associations. The Thornton Municipal Court is where many lawyers process legal claims.

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