Charitable Giving in Hialeah, Florida

Find the right Charitable Giving attorney in Hialeah, FL

Charitable giving in Hialeah, 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. Fortunately, 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 Hialeah, Florida

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

Under a charitable trust, the money going to the charity technically still belongs to the donor. However, the charity, acting as a trustee, has authority to use it for charitable purposes (what the money can and can't be used for should be clearly laid out in the trust).

The most typical type of Hialeah, Florida charitable trust is identified as a "charitable remainder trust." Under this arrangement, some of your money or property is given 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 ensure that the charity you want to help is registered with them. This will help make sure that your money is used for a good cause (and not to line somebody's pockets) and that your contribution will be tax-deductible.

Do I Need a Hialeah, Florida Attorney?

When attempting to establish a charitable trust, or make another charitable donation, the first thing you should do is discuss this with the organization you want to make the donation to. They will probably be able to advise you on how to donate your money in the way that will be most useful to them. And, of course, you should speak with an attorney in Hialeah, Florida, who will typically be able to make the process much easier.

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

Life in Hialeah

Hialeah is a city in Miami-Dade County that is the sixth most populous in the State of Florida with 226,500 residents. Hialeah is incorporated into the Miami Metropolitan Area and is the most densely populated area in the United States without a skyscraper. The city pays host to some of the best shopping in Florida at the Westland Mall which is known to most locals as Westfield Westland and also features a number of popular eateries like Fuddrucker's, Chili's, Manchu Wok, and Edy's. Telmundo is also headquartered in Hialeah. So many businesses attract a number of experienced lawyers. Hialeah lawyers have experience with local courts and cases so they will often be best suited to advising cases in the area.  

Residents of Hialeah enjoy access to many great schools including elementary schools, middle schools, high schools, charter schools, private schools, community colleges, as well as private colleges and universities. The Hialeah Park Race Track offers slot machines and quarter horse races. There are also 3 tennis courts, 5 pools, lots of public parks, and a 10,000 seat football stadium. Hialeah offers a great location, amenities, and schools making it one of the most popular places in Florida to live. 

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