Charitable Giving in Delray Beach, Florida

Find the right Charitable Giving attorney in Delray Beach, FL

Charitable giving in Delray Beach, 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 large 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. However, there are a few arrangements authorizing 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 easiest and least intricate way to do this is a simple testamentary gift in a will - wherein a specific amount of the donor's money is transferred to the charity upon the donor's death.

Charitable Trusts in Delray Beach, Florida

A charitable trust is an arrangement by which a large amount of money can be given 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 usually only permitted to use the money to advance their organization's charitable mission.

If a person decides to set up a charitable trust in Delray Beach, Florida, they typically set up a "charitable remainder trust," since this is usually beneficial to both the donor (or their estate) as well as the charity. The operation of this type of trust is fairly simple: at a set time (typically the donor's death) the property that the donor wants to give to the charity is handed over, and the charity invests it. The charity benefits by getting to keep most of the money that these investments generate. The donor benefits because they also get a percentage of this income, for a period of time laid out in the trust agreement. Afterwards, the recipient of the donation gets it free and clear.

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

Do I Need a Delray Beach, Florida Attorney?

Making a substantial charitable donation is a generous and admirable act. However, good intentions don't always lead to good results. To ensure 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 advantageous to have a Delray 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 Delray Beach

Delray Beach, Florida has a lot more to it than beautiful beaches and ocean side charm. Historically, this is an area known to be a favorite of Native American hunters, trappers, and slaves. Years later, in 2007, this area was labeled as the United State's "drug recovery capital" because it became the country's largest recovery communities As a result, the mayor passed an ordinance making it illegal to operate sober houses.

Who would ever have though such an interesting history was behind Delray Beach. Currently, Delray's economy is largely based on tourism. The city is filled with beautiful beaches, and popular events such as The Delray Affair, The Delray Garlic Fest, Delray Walk, and Art Jazz on the Avenue. Many of these events are filled with music, good food and drinks, and a wonderful, entertaining ambiance. Other popular attractions include the Roji-en Japanese Gardens, the American Orchid Society Visitor Center and Botanical Garden, Spady Museum, Downtown Delray Arts District, and Cason Cottage.

Delray Beach is also filled with many law offices. These offices are run by attorneys dedicated to providing excellent legal services, while serving their community with personalized service.

All in all, Delray Beach is a beautiful area to live in; an area with an interesting past and a promising future.

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