Charitable Giving in West Springfield, Massachusetts

Find the right Charitable Giving attorney in West Springfield, MA

In West Springfield, 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 West Springfield, Massachusetts

Legal arrangements identified as "charitable trusts" are also used to give large amounts of money to charity. It can be used to make the gift immediately, or it can be set to take effect after the donor's 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 customary kind of charitable trust in West Springfield, Massachusetts is a charitable remainder trust. This permits 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 typically 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.

You should make sure the charity is registered with the Internal Revenue Service, and (if applicable) the taxation authority of .

Do I Need a West Springfield, 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 West Springfield, 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 West Springfield

West Springfield is part of Hampden County in Massachusetts. It has a population of about 28,000 people and is a popular tourist destination. The city is locally known as "The West Side", which is a reference to its location on the western side of the Connecticut River.

West Springfield is also part of the Massachusetts area known as the Springfield-Hartford "Knowledge Corridor". The Knowledge Corridor is part of a state program designed to promote cultural and economic exchange between several Massachusetts cities. The name Knowledge Corridor derives from the fact that there are over 30 colleges and universities in the sector. The area is also the focus of extensive urban renewal projects.

The city of West Springfield attracts many visitors due to its retail and commercial activities. For example, the Riverdale Road corridor is one of the major retail centers in the area. Tourists also come to the city every September for the Eastern States Exposition or "The Big E", which is the largest fair in the entire northeast region. The fair is home to the Big E Cream Puff and the Craz-E Burger. The Big E lasts for 17 days and features a number of acts, parades, and exhibits.

Lawyers in West Springfield, Massachusetts usually represent their clients at the Springfield District Court Division courthouse. Many West Springfield are members of multiple bar associations including the local Hampden County Bar Association.

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