Charitable Giving in St. Clair Shores, Michigan

Find the right Charitable Giving attorney in St. Clair Shores, MI

In St. Clair Shores, Michigan, "charitable giving" involves giving money or property to an individual or organization, expecting nothing directly in return.

Most charitable donors, while they're alive, give their gifts in the simplest way possible: handing the money or property they wish to donate over to the individual or group they want to help.

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.

If you decide to make a sizable donation to a charity that will not really occur until after your death, the easiest (and most commonly-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in St. Clair Shores, Michigan

Legal arrangements recognized 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.

While the money, for a time at least, is still technically owned by the donor, it is possessed and controlled by the charity, which acts as a trustee. The trustee is then able to use the money for the charitable purposes which have been laid out in the agreement that first created the trust.

The most frequent kind of charitable trust in St. Clair Shores, Michigan is a charitable remainder trust. This authorizes 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 normally 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.

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 St. Clair Shores, Michigan 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 St. Clair Shores, Michigan attorney, who can help iron out the more technical details.

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

Life in St. Clair Shores

St. Clair Shores is a suburb along Lake Saint Clair. Specifically, it is in Macomb County and is about 13 miles northeast of downtown Detroit.

After World War II the area grew from a small resort community along Lake Saint Clair to a decent sized suburb. Per the 2010 census, its population is 59,715 people.

The city is well-known because every Memorial Day, it is host the the Memorial Day Parade. Also, Michigan residents know the area well because of the "Nautical Mile" site. This site is a strip of Jefferson Avenue between Nine Mile and 10 Mile roads, and is home to retail stores, boat dealers, good restaurants and cafes, and marinas. Basically, it is a popular site for residents and tourists to visit.

Many may not know, but St. Clair is where the Miss America Organization is located. Other popular attractions include Car City Records and Crows Nest East.

There are also attorneys in this area that are able to provide legal services to residents in need.

All in all, St. Clair Shores is a wonderful place to live and visit!

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