Charitable Giving in Honolulu, Hawaii

Find the right Charitable Giving attorney in Honolulu, HI

Charitable giving in Honolulu, Hawaii is the giving of money or some other asset to a charitable cause.

Most charitable donors, while they're alive, give their gifts in the simplest way feasible: handing the money or property they wish to donate over to the person or group they want to assist.

What if, however, you want to give all or most of your assets to a charity, to really make a big difference? This is often 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. Luckily, there are a few arrangements allowing you to have your assets transferred to a charity after your death.

There are many arrangements allowing 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 common.

Charitable Trusts in Honolulu, Hawaii

Charitable trusts are arrangements that involve handing possession (but not necessarily 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 generally only allowed to use the money to advance their organization's charitable mission.

If a person decides to set up a charitable trust in Honolulu, Hawaii, they usually 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 (usually 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.

Many charitable donations are deductible from your state and federal taxable income. But, in order for your donations to count, the charity should be registered with the IRS and equivalent institution in .

Do I Need a Honolulu, Hawaii 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 Honolulu, Hawaii, who will usually be able to make the process much easier.

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

Life in Honolulu

Honolulu means "place of shelter" and serves as just that for thousands of tourists each year. Nearly 375,000 Hawaiians call Honolulu home. That large population makes the city the most populous in the entire State of Hawaii. As the largest city in one of the U.S.'s most popular vacation states, there are diplomatic facilities of Japan, Philippines, South Korea, Australia, and the Marshall Islands among others. Honolulu is the Capital of the State of Hawaii. Consequently, Honolulu is home to many of the government facilities including the City of Honolulu and Honolulu County as well as Federal instillations like the Federal Detention Center, Honolulu. The prison is a temporary holding place for no more than 1,000 inmates awaiting trial and is located just across from the Honolulu International Airport.

Downtown Honolulu is home to Hawaii's tallest building, the First Hawaiian Center, as well as the Hawaii Pacific University campus. The Honolulu Arts District and Waikiki are the most popular attractions among tourists. The arts district rests on the eastern edge of Honolulu's Chinatown. The Arts District is home to lots of cultural institutions like the Hawaii Theatre, galleries, and venues for performing arts and music. Waikiki is one of the most popular tourist districts and home to the Ala Moana Center which is the worlds largest open air shopping center. The district also has a number of other shops and eateries that cater to tourists and locals alike.

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