Charitable Giving in Hyattsville, Maryland

Find the right Charitable Giving attorney in Hyattsville, MD

In Hyattsville, Maryland, "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, however, may be particularly dedicated to a certain cause, giving rise to a desire to donate a very large percentage of their assets to it. However, during life, this is typically infeasible, since people have their own expenses that they have to cover. So, people often put off this donation until after their death.

There are many arrangements allowing you to donate some or all of your assets to a charitable cause after your death, but direct testamentary gifts (simply leaving money in your will to the charity of your choice) are the most common.

Charitable Trusts in Hyattsville, Maryland

Charitable trusts are usually used for very large donations, and can be made during the donor's life, or after their death.

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

In Hyattsville, Maryland, a "charitable remainder trust" is the most recognized kind of charitable trust. This allows 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 (generally 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 Hyattsville, Maryland 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 helpful to have a Hyattsville, Maryland 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 Hyattsville

Named after Christopher Clarke Hyatt in 1860, Hyattsville, Maryland is home to close to 15,000 residents.Hyatsville provides its population with easy access to both Washington and Baltmiore, Hyattsville is located in Prince George's County, Maryland.

The small population does not mean that there are a lack of good lawyers in Hyattsville. Raning from family law to employment issues, to everyday legal issues, Hyattsville lawyers are skilled in a range legal areas ready to help their neighbors with whatever he or she may find themselves facing. Hyattsville also has friendly neighborhoods, top schools, and an active population contributing to the overall charm of the East Coast city.

A portion of the city of Hyattsville was placed on the National Registry ofHistoric Placesfor the many beautiful historic sites the city has to offer. Hyattsville is also home to a variety of industries including: manufacturing, retail, and real estate. There are also many summer attractions including outdoor summer concerts, outdoor movies showing classics, and many well-kept neighborhood parks putting on activities. Hyattsville is a city that has perfected the small-town charm in a big way.

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