Charitable Giving in Scituate, Massachusetts

Find the right Charitable Giving attorney in Scituate, MA

In Scituate, 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 to give a charitable gift that does not take effect until after the donor dies. The easiest and least complex way to do this is a simple testamentary gift in a will - wherein a certain amount of the donor's money is transferred to the charity upon the donor's death.

Charitable Trusts in Scituate, 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 Scituate, Massachusetts, they usually 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 (usually 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 Scituate, Massachusetts Attorney?

If you want to create a charitable trust, you should first talk with someone in charge of the charitable organization you wish to help. They will be able to assist you in setting up the trust, or advise you of their preferred method of donation. This will help you ensure that your donation is as effective in helping the charity as it can possibly be. It is also a good idea to speak with a Scituate, Massachusetts attorney, who can help iron out the more technical details.

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Life in Scituate

Scituate, Massachusetts is a city in Plymouth County, on Cape Cod. It has a population of about 18,000 people.

Scituate was originally settled by a group of people from Plymouth in 1627. Since its founding, Scituate's economy and culture revolved around fishing. The rich waters off of New England provided a seemingly-limitless food source. While commercial fishing still takes place, depleted stocks, and the resulting limits, have reduced its economic importance.

Like much of the Cape Cod area, Scituate has become a destination for wealthy visitors, many of whom maintain homes in the area. Visitors from the world over are drawn to its natural beauty, and unique New England Charm.

Scituate is a fairly affluent community, with the median household income of permanent residents being about ,000, and only about 2% (much lower than the national average) of the population living below the poverty line.

If you live in Scituate, Massachusetts, and are looking for an attorney, you're in luck. There are many Scituate, Massachusetts lawyers who can handle whatever legal issue a person is likely to face. If you have any legal problems, a Scituate, Massachusetts attorney is the person to call.

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