Charitable Giving in Cedar Rapids, Iowa

Find the right Charitable Giving attorney in Cedar Rapids, IA

Charitable giving in Cedar Rapids, Iowa 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 possible: handing the money or property they wish to donate over to the individual or group they want to help.

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. However, there are a few arrangements allowing you to have your assets transferred to a charity after your death.

There are many ways you can donate some or all of your property or money to a charity after your death, if you wish to do so. Direct testamentary gifts are the most common and the most simple way to accomplish this. A testamentary gift simply entails giving the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Cedar Rapids, Iowa

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.

The most common type of Cedar Rapids, Iowa charitable trust is known 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 Cedar Rapids, Iowa Attorney?

If you wish to set up a charitable trust, you should consult with the organization directly. They often know the easiest way to direct any charitable giving to their organization. You should also speak with a good trusts and estates attorney in Cedar Rapids, Iowa, who can help ensure that your intentions are carried out.

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

Life in Cedar Rapids

Cedar Rapids is Iowa's second largest city, neighboring the Linn County line and Cedar River. It is about 100 miles from the capital, Des Moines. The city is home to approximately 126,326 people. The dominant industries in the area are the transportation industry and the health care industry.

Cedar Rapids is one of the largest cities in the world for corn processing. Grain processing is the most important sector in the city because most of the residents are employed within it. Large companies that have a location in Cedar Rapids include Rockwell Collins, Quaker Oats, Archer Daniels Midland, General Mills and Nordstrom. To serve these corporations and industries, Cedars Mills is home to many law firms and lawyers, well-experienced in all areas of practice.

Popular figures who have once called Cedar Rapids home include Grant Wood, William L. Shirer, Carl Van Vechten, Bobby Driscoll, Ashton Kutcher, Elijah Wood, and Ron Livingston.

Popular attractions in the area include the Cedar Rapids Museum of Art, the National Czech Slovak Museum Library, Theater Cedar Rapids, and the Paramount Theater.

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