Charitable Giving in Elmhurst, Illinois

Find the right Charitable Giving attorney in Elmhurst, IL

Charitable giving in Elmhurst, Illinois is the transferring 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.

Some generous donors will sometimes give basically everything they own to charity. This is a wonderful thing to do, but it's not really practical - after all, just about everybody has bills to pay. One solution to this is to put off such a generous donation until after death. This allows the donor to meet their obligations during life, while having the satisfaction of knowing that a cause they care about will be given a large amount of help after their 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 transferring the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Elmhurst, Illinois

A charitable trust is an arrangement through which some amount of money or property is directed to a charity after the donor's death, or throughout their life.

While the money, for a time at least, is still technically owned by the donor, it is possessed and controlled by the charity, which acts as a trustee. The trustee is then able to use the money for the charitable purposes which have been laid out in the agreement that initially formed the trust.

In Elmhurst, Illinois, a "charitable remainder trust" is the most typical kind of charitable trust. This authorizes 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 (typically 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 produce, becomes the legal property of the charity, to dispose of as it pleases.

Obviously, if you want to help a good cause, you want to make sure that any charity you donate to is valid. Sadly, there are quite a few fraudulent charities out there. The ideal way to do this is to check and make sure that the charity is registered as a tax-exempt organization with the IRS, and the tax authorities in

Do I Need a Elmhurst, Illinois Attorney?

If you want to set up a charitable trust, you should first speak with a representative of the charity you want to support. You should also talk with an accomplished attorney in Elmhurst, Illinois, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.

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

Life in Elmhurst

Elmhurst is a suburb of Chicago, located in Cook and DuPage Counties of Illinois. The suburb has a population of around 46,000.

If one is thinking that a suburb cannot have attractions to visit, that's wrong! Elmhurst has a lot of great attractions. Such attractions include the York Theater, the Wilder Park Conservatory, Elmhurst Park District, the Elmhurst Historical Museum, the Elmhurst Art Museum, the Lizzadro Museum of Lapidary Art, and Elmhurst City Centre.

With Chicago nearby, Elmhurst residents have a strong legal force to tend to their legal needs. Chicago is filled with law firms of all sizes that train excellent attorneys.

Some notable residents of Elmhurst include Al Weis, Larry Stefanki, Rachel Melvin, Jim Ryan, Jeff Hornacek, Mark Wilson, John Witt, and John Grochowski.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Regel B.
Regel B.

Wills, Trusts and Estates

Caldwell, LA

Brad M.
Brad M.

Wills, Trusts and Estates

Sussex, NJ

David L.
David L.

Wills, Trusts and Estates

Ashland, OH

Gotham Light