Charitable Giving in Medford, Massachusetts

Find the right Charitable Giving attorney in Medford, MA

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

In general, it's extremely easy to make a charitable donation to a cause you want to help. Whether it contains 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 complicated 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.

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 Medford, Massachusetts

Charitable trusts are arrangements that involve handing possession (but not generally ownership) of money or property over to a charity, either during the donor's life, or after their death.

In a charitable trust, the property is still technically owned by the donor, but the recipient retains possession and control over it. As the trustee, the charity is free to use the money for any purpose laid out in the trust agreement. With a charitable trust, trustees are typically only authorized to use the money to advance their organization's charitable mission.

The most frequent type of charitable trust in Medford, Massachusetts 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.

Many charitable donations are deductible from your state and federal taxable income. But, in order for your donations to count, the charity should be registered with the IRS and equivalent institution in .

Do I Need a Medford, Massachusetts 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 Medford, Massachusetts, 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 Medford

Medford is a city in Middlesex County, Massachusetts. It has a population of about 55,000 people.

The first European settlement in the area now known as medford was in 1630, when the area was still part of Charlestown. The town grew slowly but steadily over the next few hundred years. After 1880, the population began to explode, coinciding with the industrial revolution. The expansion in population led to the creation of new government services, such as gas, electricity, and water, along with public schools and a dedicated police department.

While working as a social worker in the 1920s, Amelia Earhart lived in Medford, and there are several memorials and historic sites dedicated to her, including the house in which she lived during her tenure in the city. Medford was also home to the man credited with inventing the roller skate.

Modernly, Medford is home to Tufts University, an extremely well-regarded research university. While once considered a "safety school" for students applying to Harvard, Tufts has become a destination school in its own right, in some niche fields of study.

If you live in Medford, Massachusetts, and need a good lawyer, chances are good that you'll be able to find one. With its diverse and vibrant population, Medford, Massachusetts lawyers have evolved in kind.

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