Charitable Giving in Somerville, Massachusetts

Find the right Charitable Giving attorney in Somerville, MA

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

Charitable Trusts in Somerville, 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.

The money is still technically owned by the donor, but the charity, serving as a trustee, has the right to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.

In Somerville, Massachusetts, a "charitable remainder trust" is the most common kind of charitable trust. This permits the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (usually in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will generate, becomes the legal property of the charity, to dispose of as it pleases.

Obviously, if you want to help a good cause, you want to make sure that any charity you donate to is legitimate. Sadly, there are quite a few fraudulent charities out there. The best way to do this is to check and make sure that the charity is registered as a tax-exempt organization with the IRS, and the tax authorities in

Do I Need a Somerville, Massachusetts Attorney?

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

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

Life in Somerville

Located in Middlesex County, Sommerville, Massachusetts is just two miles north from the state capital of Boston. Sommerville has a population of just under 80,000 residents and is listed as the most densely populated communities in all of New England.

Sommerville was first settled in 1630 and is now considered to be one of the most ethnically diverse communities in all of the United States, with many recent immigrants from Brazil, El Salvador, and Haiti. With over fifty spoken languages used in Somerville schools and 1/3 of the city population born i another country, it is no wonder Somerville has such an ethnic distinction.

Arts and culture is another noteworthy aspect of the New England city. Next to New York, Somerville houses more artists per capita than any other city. The city hosts many artistic events such as the Somerville Arts Council, Brickbottom Artist Association, and the ArtBeat Festival.

Diversity and culture make for the perfect location for many of New England's top lawyers to set up show. Somerville lawyers are skilled in a rage of specialties and able to help their neighbor with any legal issue he or she may encounter. There is a thriving legal community in Sommerville, many coming from top law schools located in Boston.

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