Charitable Giving in Saugus, Massachusetts

Find the right Charitable Giving attorney in Saugus, MA

In Saugus, 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 large 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 establish some type of arrangement under which the money will be transferred upon the donor's death.

There are many ways to give a charitable gift that does not take effect until after the donor dies. The easiest and least complicated way to do this is a simple testamentary gift in a will - wherein a particular amount of the donor's money is transferred to the charity upon the donor's death.

Charitable Trusts in Saugus, Massachusetts

A charitable trust is an arrangement through which some amount of money or property is given to a charity after the donor's death, or during their life.

Under a charitable trust, the money going to the charity technically still belongs to the donor. However, the charity, acting as a trustee, has authority to use it for charitable purposes (what the money can and can't be used for should be clearly laid out in the trust).

If a person decides to set up a charitable trust in Saugus, Massachusetts, they normally set up a "charitable remainder trust," since this is usually beneficial to both the donor (or their estate) as well as the charity. The operation of this type of trust is fairly simple: at a set time (normally the donor's death) the property that the donor wants to give to the charity is handed over, and the charity invests it. The charity benefits by getting to keep most of the money that these investments generate. The donor benefits because they also get a percentage of this income, for a period of time laid out in the trust agreement. Afterwards, the recipient of the donation gets it free and clear.

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

Do I Need a Saugus, Massachusetts Attorney?

If you wish to set up a charitable trust, you should consult with the organization directly. They commonly know the easiest way to direct any charitable giving to their organization. You should also speak with a brilliant trusts and estates attorney in Saugus, Massachusetts, who can help ensure that your intentions are carried out.

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

Life in Saugus

Saugus, Massachusetts is a city in Essex County. It has a population of about 26,000 people, and is part of the greater Boston area.

Saugus was first settled by Europeans in 1629, during the main boom of colonization of New England. The settlers then founded the Saugus Iron works, which operated from 1646 to 1668, which was the first integrated Iron Works in North America. The original site of the iron works is now in the National Register of Historic Places.

What is now U.S. Highway 1 goes through Saugus, and was built in 1806, making it one of the first public roads in the U.S. With the advent of automobiles, this pre-existing road was widened, and during the early history of the automobile, Saugus was an important center for the early adopters of the technology.

Modernly, Saugus is somewhat of a suburb of Boston, but it has definitely retained its own distinct character and lifestyle, and has a quiet, small town feel to it. This means that people who prefer this lifestyle, but have a job in the larger city of Boston, or simply like to visit the city sometimes, can have the best of both worlds.

If you live in Saugus, Massachusetts, and are in need of legal counsel, you shouldn't have any trouble finding him or her. A Saugus, Massachusetts attorney can solve just about whatever legal issue you might face.

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