Charitable giving in Hayden, Idaho is the donating 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.
Some people, however, may be particularly 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 often infeasible, since people have their own expenses that they have to cover. Thus, people often put off this donation until after their death.
If you decide to make a sizable donation to a charity that will not directly occur until after your death, the easiest (and most commonly-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.
Charitable Trusts in Hayden, Idaho
Charitable trusts are typically 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 right to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.
In Hayden, Idaho, a "charitable remainder trust" is the most common kind of charitable trust. This permits the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (usually in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will generate, becomes the legal property of the charity, to dispose of as it pleases.
You should make sure the charity is registered with the Internal Revenue Service, and (if applicable) the taxation authority of .
Do I Need a Hayden, Idaho 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 Hayden, Idaho, who will typically be able to make the process much easier.