Charitable Giving in Fall River, Massachusetts

Find the right Charitable Giving attorney in Fall River, MA

In Fall River, Massachusetts, "charitable giving" involves donating money or property to an individual or organization, expecting nothing directly in return.

In general, it's quite easy to make a charitable donation to a cause you want to help. Whether it includes writing a huge check, or dropping spare change in a donation jar, a huge majority of charitable gifts are made simply by giving money away, with no intermediary or other intricate legal arrangements.

Some people want to give a larger percentage of their assets to a charitable organization than would be feasible during life, so they implement some type of arrangement under which the money will be transferred upon the donor's death.

If you want to make a donation that's effective after your death, there are a few ways to do this. The most prevalent 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 Fall River, Massachusetts

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 authority to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.

In Fall River, Massachusetts, a "charitable remainder trust" is the most typical 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 produce, 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 Fall River, Massachusetts Attorney?

When attempting to create 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 Fall River, Massachusetts, who will typically be able to make the process much easier.

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

Life in Fall River

Fall River is located in Bristol County, Massachusetts. It is located near Mount Hope Bay and the Tanton River. Interestingly, the city is known for its motto--"We'll Try."

There are many wonderful attractions in Fall River. Such sites include Battleship Cover, Fall River Heritage State Park, The Marine Museum at Fall River, Freetown-Fall River State Forest, New Harbour Mall, Columbia Street, and Old Colony Fal River Railroad Museum.

Many attorneys have established law offices and small firms. Therefore the legal needs of residents can be easily taken care of. For complex legal matters, residents can take advantage of Boston's superior legal force. Boston being 46 miles away, is home to many top tier law firms and ivy-league educated attorneys. Overall, residents need not fear because their legal matters will be taken care of.

Overall, Fall River is a wonderful place to live with a location rich in history and easily accessible to nearby Boston!

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