Charitable Giving in New Bedford, Massachusetts

Find the right Charitable Giving attorney in New Bedford, MA

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

In general, it's very easy to make a charitable donation to a cause you want to help. Whether it involves writing a huge check, or dropping spare change in a donation jar, a large majority of charitable gifts are made simply by giving money away, with no intermediary or other complex 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 create 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 giving the money or property directly to the charity, through a provision in your will.

Charitable Trusts in New Bedford, Massachusetts

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

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 first created the trust.

The most common kind of charitable trust in New Bedford, Massachusetts is a charitable remainder trust. This allows you to give as much money or property as you want to a charity. The money is then invested by the charity. The investments are usually fairly conservative, sacrificing large returns for security. The charity then returns a portion of these returns to the donor, or another person named by the donor, while keeping the rest. This lasts for a set period of time, at the end of which the charity gets full ownership of the original fund.

Wanting to help a charitable cause is, of course, a good thing. However, some people seek to take advantage of our good intentions through fraudulent charities. If you want to help ensure that any money you donate to an organization is actually used for a charitable cause, and that your donation will be tax-deductible, you should check to see that the organization is actually tax-exempt. You can find this information from the IRS and/or the agency responsible for taxation in

Do I Need a New Bedford, 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 experienced attorney in New Bedford, 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 New Bedford

New Bedford, Massachusetts houses a population of over 100,000 residents. And that's not all New Bedford is home to, the city is also the number one fishing port in America, in addition to being the world's most famous whaling era seaports. The strategic locationright onthe water makes the city a natural seaport, and wonderful place for the commercial or leisure fisherman to take advantage of.

In addition to many parks and shops located in the city's historic district, New Bedford has whaling museum to commorate the city's role in whaling. Fishing and manufacturing are the two largest industries in New Bedford, although tourism is also on the rise.

New Bedford is also home to some of the state's top lawyers. New Bedford lawyers and other professionals enjoy the wonderful work and lifestyle that the east coast city has to offer, and are trained to assist their client in any issue he or she may find themself facing. New Bedford's location fifty one miles south of the state capital of Boston, makes it a very easy city to visit and enjoy. New Bedford also enjoys a thriving arts and music movement in recent times, that is home to many lively festivals and concerts for their residents and visitors to take part in.

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