Charitable Giving in Hollywood, Florida

Find the right Charitable Giving attorney in Hollywood, FL

Charitable giving in Hollywood, 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 Hollywood, Florida

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.

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.

The most frequent type of Hollywood, Florida charitable trust is recognized 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 Hollywood, Florida Attorney?

When attempting to create 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 Hollywood, Florida, who will normally be able to make the process much easier.

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

Life in Hollywood

Hollywood, Florida is a city in Broward County, located in Southeastern Florida. It has a population of roughly 140,000 people.

Hollywood, FL was founded in the 1920s. It grew steadily from there, and its population boomed for many years after WWII ended, thanks to a period of strong economic growth, a growing population nationwide, and the advent of the modern suburb. Many successful professionals, such as doctors and lawyers, staked their claim in Hollywood, FL during the 1950s and 60s. In addition to working professionals, Hollywood, FL is also a popular destination for retirees.

One of the largest employers in Hollywood, Florida is HEICO - a major manufacturer of aerospace, medical, and telecommunications technologies, for both the government (including the military) and the private sector. As with any large business, HEICO employs or retains a fairly large number of lawyers to deal with the legal issues a large corporation inevitably faces. As a result, HEICO has helped the careers of many Hollywood, Florida attorneys. Hollywood, Florida was also home to the headquarters of Commodore Cruise Lines, before the company was dissolved. Many Hollywood, Florida corporate and bankruptcy attorneys were involved in wrapping up this large company's affairs.

Residents of Hollywood, Florida who need legal advice usually don't have trouble finding a good attorney. Attorneys in Hollywood, Florida are proficient in a wide variety of practice areas, and anyone who has a legal issue is almost certain to be able to find a Hollywood, Florida lawyer who can help them.

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