Charitable Giving in Coconut Creek, Florida

Find the right Charitable Giving attorney in Coconut Creek, FL

Charitable giving in Coconut Creek, Florida is the donating of money or some other asset to a charitable cause.

In general, it's quite easy to make a charitable donation to a cause you want to help. Whether it includes 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 intricate 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 frequently 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 authorizing you to have your assets transferred to a charity after your death.

There are many ways you can donate some or all of your property or money to a charity after your death, if you wish to do so. Direct testamentary gifts are the most common and the most simple way to accomplish this. A testamentary gift simply entails donating the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Coconut Creek, Florida

Charitable trusts are typically used for very large donations, and can be made during the donor's life, or after their death.

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.

The most typical type of Coconut Creek, Florida 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.

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 Coconut Creek, Florida Attorney?

If you wish to set up a charitable trust, you should consult with the organization directly. They frequently know the simplest way to direct any charitable giving to their organization. You should also speak with a reliable trusts and estates attorney in Coconut Creek, Florida, who can help ensure that your intentions are carried out.

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

Life in Coconut Creek

Coconut Creek is a city with an interesting name, located in Broward County, Florida. What is interesting is that eventhough its name has the word "coconut" in it, Coconut Creek is home to the world's largest butterfly population. Over 80 species and 5,000 individual butterflies call Coconut Creek home.

Coconut Creek is a small community filled with many small businesses, single-family homes, condos, town homes, and small gated communities. Some popular employers include the school district, Seminole Coconut Creek Casino, Enterprise Rent-A-Car, and Wal-Mart.

Coconut Creek is also filled with many small law offices that are founded by excellent attorneys focusing on creating a legal practice dedicated to excellence and service to the community.

Some popular attractions include Sabal Pines Park, Tradewinds Park, Butterfly World, and Seminole Casino Coconut Creek.

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