Charitable Giving in Fairfield, Connecticut

Find the right Charitable Giving attorney in Fairfield, CT

Charitable giving in Fairfield, Connecticut 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 permitted: 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 commitments 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 typically-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Fairfield, Connecticut

A charitable trust is an arrangement through which some amount of money or property is directed to a charity after the donor's death, or throughout their 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 initially established the trust.

The most typical type of Fairfield, Connecticut charitable trust is identified as a "charitable remainder trust." Under this arrangement, some of your money or property is directed to your charity of choice. The charity then invests the money, while giving a percentage of the income generated by these investments to you or a beneficiary of your choice, for a determinate period of time. Once this time is up, ownership of the original fund transfers to the charity.

Wanting to help a charitable cause is, of course, a good thing. Nonetheless, some people seek to take advantage of our good intentions through fraudulent charities. If you want to help ensure that any money you donate to an organization is directly used for a charitable cause, and that your donation will be tax-deductible, you should check to see that the organization is truly tax-exempt. You can find this information from the IRS and/or the agency accountable for taxation in

Do I Need a Fairfield, Connecticut Attorney?

If you want to set up a charitable trust, you should first speak with a representative of the charity you want to support. You should also talk with an efficient attorney in Fairfield, Connecticut, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.

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

Life in Fairfield

Fairfield, Connecticut is a city located in Fairfield County. It has a population of approximately 57,000 people. Fairfield has been ranked by Money Magazine as one of the top 10 places to live in the U.S. It was ranked by the same publication as the best place to live in the Northeast, owing to its high median household income, relatively low home prices, extremely low crime rates, and quality of schools, among many other factors. Fairfield was originally established in the 1630s by a breakaway Puritan sect from the Massachusetts Bay Colony. During the American Revolutionary War, Fairfield was the site of significant fighting, and was particularly hard-hit by the ruthless, scorched-earth tactics of some British commanders, with many residents having their homes and businesses burned. Modernly, Fairfield, Connecticut is home to a large number (for a city its size) of major multinational corporations, including General Electric. It shouldn't be a surprise, then, that Fairfield, Connecticut is home to quite a few competent attorneys, who have to be ready to serve an extremely diverse and sophisticated client base. It's very likely that, whatever Fairfield, Connecticut lawyer you choose, they'll be able to help you with your legal problem.

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