Charitable Giving in Stamford, Connecticut

Find the right Charitable Giving attorney in Stamford, CT

Charitable giving in Stamford, 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 huge 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. Thankfully, 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 Stamford, Connecticut

Charitable trusts are arrangements that involve handing possession (but not generally ownership) of money or property over to a charity, either during the donor's life, or after their death.

The money is still technically owned by the donor, but the charity, serving as a trustee, has the permission to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.

The most frequent type of charitable trust in Stamford, Connecticut is a charitable remainder trust. Under this arrangement, you give a particular amount of money or property to a charity. The charity then invests this money, giving you or a named beneficiary a portion of the income generated from these investments for a set amount of time. Once this expires, the money that was initially invested goes to the charity, free and clear.

If you wish to set up a charitable trust in you should check with the IRS and equivalent state agencies to confirm that the charity you want to help is registered with them. This will help make sure that your money is utilized for a good cause (and not to line somebody's pockets) and that your contribution will be tax-deductible.

Do I Need a Stamford, 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 confirm 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 Stamford, Connecticut attorney, who can help iron out the more technical details.

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Life in Stamford

Stamford is located in the greater New York metropolitan region, is the fourth largest city in the state and the eighth largest city in New England. It has a population of about 122,643 people.

Popular attractions primarily comprise of parks and recreational sites. Some attractions include Cummings Park, Terry Connors Ice Rink, Scalzi Park, Mill River Park, and Cove Island Park. Other popular sites to visit include the Stamford Museum and Nature Center, Barlett Arboretum and Gardens, Stamford Center for the Arts and the Stamford Symphony Orchestra.

Stamford is a diverse area with all races, including Caucasian, African-American, Asian, and Hispanic. As a result, many residents are bilingual.

Many large companies have office locations in Stamford. These companies include World Wrestling Entertainment, Tasty Bite, Pitney Bowes, UBS and the Royal Bank of Scotland. Stamford is also home to many law firms and offices which train many competent attorneys to handle any and all legal inquires.

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