Charitable Giving in Joliet, Illinois

Find the right Charitable Giving attorney in Joliet, IL

In Joliet, Illinois, "charitable giving" involves giving money or property to an individual or organization, expecting nothing directly in return.

In life, charitable giving normally simply involves writing a check or handing cash over to the charitable organization of the donor's choice.

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. Therefore, people often put off this donation until after their death.

If you want to make a donation that's effective after your death, there are a few ways to do this. The most frequent method is also the simplest: leaving the charity whatever property you want to give to it in your will - this is known as a "testamentary gift."

Charitable Trusts in Joliet, Illinois

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

In a charitable trust, the money that is donated is still legally owned by the donor. But this is largely a formality, as the charity gets possession and control over the money. The charity is then free to use that money, but only for the purposes laid out in the trust instrument.

The most frequent type of charitable trust in Joliet, Illinois is a charitable remainder trust. Under this arrangement, you give a particular amount of money or property to a charity. The charity then invests this money, giving you or a named beneficiary a portion of the income generated from these investments for a set amount of time. Once this expires, the money that was initially invested goes to the charity, free and clear.

Obviously, if you want to help a good cause, you want to make sure that any charity you donate to is legitimate. Sadly, there are quite a few fraudulent charities out there. The best 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 Joliet, Illinois Attorney?

If you want to create a charitable trust, you should first talk with someone in charge of the charitable organization you wish to help. They will be able to assist you in setting up the trust, or advise you of their preferred method of donation. This will help you ensure that your donation is as effective in helping the charity as it can possibly be. It is also a good idea to speak with a Joliet, Illinois attorney, who can help iron out the more technical details.

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Life in Joliet

Joliet, Illinois is the fastest growing city in the state. It is the seat of Will County and was incorporated as early as 1852. Joliet is nicknamed "The City of Champions" on account of the many national and state titles won by local school bands and sports teams. It is also nicknamed "The City of Steel" as well as the "City of Stone", reflecting its historical background in those industries.

Currently the city of Joliet, Illinois has attracted large numbers of new residents seeking to work and live in the area. Family entertainment in Joliet is abundant, consisting of several golf courses, bike trails, and old-style movie theaters. The city also has several landmarks that often appear in the setting of major motion picture films, such as the Rialto Square Theater.

Every year Joliet enjoys a large influx of visitors who come to the city to watch NASCAR automobile races and to participate in high-end motorsports events. These are hosted at places like the Chicagoland Speedway and the Autobahn Country Club.

Joliet, Illinois has quickly become an important hub for commerce and residential living. Lawyers in Joliet are available to assist in many different areas of law. Joliet, Illinois lawyers hone their professional skills through state and county bar associations.

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