Charitable Giving in Evanston, Illinois

Find the right Charitable Giving attorney in Evanston, IL

Charitable giving in Evanston, Illinois 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.

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 giving the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Evanston, Illinois

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

Under a charitable trust, the money going to the charity technically still belongs to the donor. Nonetheless, the charity, acting as a trustee, has power to use it for charitable purposes (what the money can and can't be utilized for should be clearly laid out in the trust).

In Evanston, Illinois, a "charitable remainder trust" is the most typical kind of charitable trust. This allows 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 (generally 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 Evanston, Illinois Attorney?

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

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

Life in Evanston

Evanston, Illinois is a municipality in Cook County, Illinois. It is a suburb of Chicago, and its population is estimated at about 75,000 people. Evanston is probably best known as the home of Northwestern University, which is one of the most prestigious undergraduate and graduate schools in the U.S., and home to one of highest-ranked law schools in the U.S. Evanston was officially incorporated in 1863, and grew rapidly during the industrial revolution. The popular building toys known as "Tinkertoys" were invented in Evanston, Illinois. Evanston is one of several cities which claim to be the birthplace of the ice cream sundae, though the veracity this claim, and the claims of other cities, can't be confirmed. Modernly, Northwestern University makes up a significant portion of Evanston's economic activity, from the thousands of people it employs, and the students it brings to the community, who typically spend a lot of money. If you live in the Chicago/Evanston area, and need legal representation, an Evanston, Illinois lawyer would probably be able to meet your legal needs. Evanston's proximity to such a prestigious law school, as well as the huge city right next door, ensures that Evanston, Illinois lawyers must be far more sophisticated than the average small-town attorney.

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