Charitable Giving in Miami Gardens, Florida

Find the right Charitable Giving attorney in Miami Gardens, FL

Charitable giving in Miami Gardens, 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.

Some people, however, may be especially dedicated to a certain cause, giving rise to a desire to donate a very large percentage of their assets to it. However, during life, this is usually infeasible, since people have their own expenses that they have to cover. Therefore, people often put off this donation until after their death.

There are many arrangements permitting you to donate some or all of your assets to a charitable cause after your death, but direct testamentary gifts (simply leaving money in your will to the charity of your choice) are the most frequent.

Charitable Trusts in Miami Gardens, Florida

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

The money is still technically owned by the donor, but the charity, serving as a trustee, has the permission to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.

The most frequent kind of charitable trust in Miami Gardens, Florida is a charitable remainder trust. This authorizes you to give as much money or property as you want to a charity. The money is then invested by the charity. The investments are normally fairly conservative, sacrificing large returns for security. The charity then returns a portion of these returns to the donor, or another person named by the donor, while keeping the rest. This lasts for a set period of time, at the end of which the charity gets complete ownership of the original fund.

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 Miami Gardens, Florida Attorney?

If you want to create a charitable trust, you should first talk with someone in charge of the charitable organization you wish to help. They will be able to assist you in setting up the trust, or advise you of their preferred method of donation. This will help you confirm that your donation is as effective in helping the charity as it can possibly be. It is also a good idea to speak with a Miami Gardens, Florida attorney, who can help iron out the more technical details.

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

Life in Miami Gardens

Miami Gardens is a suburb of Miami. It is home to approximately 107,168 people. It is also known for having the largest Black population in Florida.

Since many know South Beach, the smaller area of Miami Gardens is not as well-known. However, Miami Gardens is home to the Miami Dolphins! The Miami Dolphins play in Sun Life Stadium, near Lake Lucerne. This stadium is host to the annual Orange Bowl for college football. Therefore, if South Beach is filled with a stretch of beautiful beaches, Miami Gardens caters to athletes and sports lovers.

Further, Miami is filled with law firms of all sizes. Therefore, the residents of Miami Gardens will have no issue finding proper legal help. The legal force in Miami is capable of handing any legal inquiry.

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