Charitable Giving in Ridgefield, Connecticut

Find the right Charitable Giving attorney in Ridgefield, CT

Charitable giving in Ridgefield, Connecticut is the transferring of money or some other asset to a charitable cause.

In general, it's extremely easy to make a charitable donation to a cause you want to help. Whether it contains writing a huge check, or dropping spare change in a donation jar, a large majority of charitable gifts are made simply by giving money away, with no intermediary or other complicated legal arrangements.

What if, however, you want to give all or most of your assets to a charity, to really make a big difference? This is commonly not practical while the donor is alive, since they presumably have expenses, and want to maintain for themselves the lifestyle to which they're accustomed. However, there are a few arrangements permitting you to have your assets transferred to a charity after your 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 Ridgefield, Connecticut

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.

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 created the trust.

The most frequent kind of charitable trust in Ridgefield, Connecticut is a charitable remainder trust. This authorizes 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 normally 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 Ridgefield, Connecticut 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 Ridgefield, Connecticut attorney, who can help iron out the more technical details.

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

Life in Ridgefield

Located in Fairfield County, Ridgefield is a popular Connecticut city to work, live and visit. Home to just under 25,000 residents Ridgefield has all the perks of a big city with a small city charm. The 300-year-old community has a lot of history throughout the town.

Ridgefield is located on 35 square miles and has many buildings and sites that are on the national register of historic places, including: Benedict House and Shop, Keeler Tavern and the Lewis June House. In addition to landmarks, the city has lots to offer in terms of entertainment including the Children's Orchestra and many art museums.

Professionals also enjoy success in Ridgefield. Ridgefield lawyers are some of the best in the business and enjoy working in a city that has so much to offer them in the off hours. Ridgefield lawyers are skilled in a range of practice areas and are always happy and available to help their local clients with whatever legal issue he or she is dealing with at the time. In addition to lawyers, Ridgefield is home to great doctors, accountants and bankers as well.

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