Charitable Giving in Pittsfield, Massachusetts

Find the right Charitable Giving attorney in Pittsfield, MA

In Pittsfield, 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 large 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 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 donating the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Pittsfield, Massachusetts

Charitable trusts are typically 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 prevalent type of charitable trust in Pittsfield, Massachusetts is a charitable remainder trust. Under this arrangement, you give a specific 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.

If you wish to set up a charitable trust in you should check with the IRS and equivalent state agencies to ensure that the charity you want to help is registered with them. This will help make sure that your money is used for a good cause (and not to line somebody's pockets) and that your contribution will be tax-deductible.

Do I Need a Pittsfield, Massachusetts Attorney?

Making a substantial charitable donation is a generous and admirable act. However, good intentions don't always lead to good results. To ensure that your donation has the most positive impact possible, you should discuss the matter in detail with representatives of the organization(s) you want to donate to. It might be advantageous to have a Pittsfield, Massachusetts lawyer handle these negotiations on your behalf, since they will likely understand the legal and financial complexities involved.

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

Life in Pittsfield

Pittsfield is located in Berkshire County, Massachusetts. An interesting fact is that in 2005, Farmers Insurance ranked the city twentieth in the U.S. on the "Most Secure Place to Live" list. Forbest Magazine also ranked Pittsfield as number sixty-one in its list for "Best Small Places for Business."

Some known businesses in Pittsfield include Chemex Corporation, Blue-Q, SABIC, Laurin Publishing, Thaddeus Clapp House, General Dynamics Advanced Information Systems, and Berkshire Gas. Naturally, to support these businesses, Pittsfield is home to many attorneys who can easily handle the legal needs of businesses and residents.

Some famous residents include Thomas Allen, Silvio O. Conte, Cy Ferry, Tom Grieve, Stephanie Wilson and Robin Williams.

All in all, Pittsfield is a place that residents love to live in, and people love to visit!

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