Charitable Giving in Wheat Ridge, Colorado

Find the right Charitable Giving attorney in Wheat Ridge, CO

Charitable giving in Wheat Ridge, 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 allowed: 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 normally-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Wheat Ridge, 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.

While the money, for a time at least, is still technically owned by the donor, it is possessed and controlled by the charity, which acts as a trustee. The trustee is then able to use the money for the charitable purposes which have been laid out in the agreement that first appointed the trust.

The most customary kind of charitable trust in Wheat Ridge, Colorado is a charitable remainder trust. This permits 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 typically 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 Wheat Ridge, 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 Wheat Ridge, 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 Wheat Ridge

Wheat Ridge has a population of 32,000 people and is located in Jefferson County, Colorado, just west of Denver. It is situated just 5 miles away from the Colorado state Capital.

The city of Wheat Ridge was originally founded as early as 1859, and incorporated in 1969. The settlement began as a farming village which assisted nearby mining communities. The Wheat Ridge Historical Society is dedicated to preserving the city's history, which includes several log cabins which are still standing to this day.

Currently, Wheat Ridge has a thoroughly developed Parks and Recreation Department with several branches for various activities. Examples of recreational activities for Wheat Ridge residents include programs at the Active Adult Center and the Performances in the Park concert series held from July through August. The concert series draws many local and nationwide performers, and is a great example of the city's lively atmosphere and commitment to development.

Wheat Ridge lawyers typically file their claims at the Wheat Ridge Municipal Court. Some legal claims can also be heard at the Jefferson County Court. Many lawyers in Wheat Ridge, Colorado are members of different professional organizations such as the Jefferson County Bar Association.

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