Charitable Giving in Deerfield Beach, Florida

Find the right Charitable Giving attorney in Deerfield Beach, FL

Charitable giving in Deerfield Beach, Florida 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 ways to give a charitable gift that does not take effect until after the donor dies. The simplest and least complicated way to do this is a simple testamentary gift in a will - wherein a particular amount of the donor's money is transferred to the charity upon the donor's death.

Charitable Trusts in Deerfield Beach, Florida

A charitable trust is an arrangement by which a large amount of money can be directed to a charity after the death of the donor, or during the donor's life.

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 typically only authorized to use the money to advance their organization's charitable mission.

In Deerfield Beach, Florida, a "charitable remainder trust" is the most frequent kind of charitable trust. This authorizes the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (typically in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will produce, becomes the legal property of the charity, to dispose of as it pleases.

You should make sure the charity is registered with the Internal Revenue Service, and (if applicable) the taxation authority of .

Do I Need a Deerfield Beach, Florida Attorney?

Making a substantial charitable donation is a generous and admirable act. Nonetheless, good intentions don't always lead to good results. To guarantee 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 valuable to have a Deerfield Beach, Florida 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 Deerfield Beach

Welcome to Deerfield Beach, Florida-- a city known for its beachside charm. Located in Southern Florida, Deerfield is located north of popular Florida city, Miami. Deerfield Beach has a very tourist-oriented feel to it. The sunny Florida shores are another aspect that tourists enjoy in Deerfield.

Deerfield Beach's economy is as diverse as its population, specializing in manufacturing, distribution, and office industries. Deerfield has the ninth largest Brazilian population in the United States--a presence that is reflected in many of the local restaurants in Deerfield. Every year Deerfield Beach plays host to the Women's Professional Volleyball Association and the Superboat Power Race. Deerfield Beach is home to close to 80,000 residents and is located on Broward County, Florida.

Another notable aspect of Deerfield Beach is the amazing legal culture the community enjoys. Deerfield lawyers hail from all areas of the United States and their range of specialties is as diverse as they are. Lawyer in Deerfield are available to serve their clients in any legal issue they may find themselves confronted with. Deerfield Lawyers are highly skilled and Deerfield is lucky to have them!

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