Charitable Giving in Waterford, Michigan

Find the right Charitable Giving attorney in Waterford, MI

In Waterford, Michigan, "charitable giving" involves donating 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 allowed: 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 establish 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 directly occur until after your death, the easiest (and most normally-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Waterford, Michigan

Charitable trusts are typically 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 Waterford, Michigan, a "charitable remainder trust" is the most recognized 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 Waterford, Michigan 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 Waterford, Michigan, who can help ensure that your intentions are carried out.

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

Life in Waterford

The beautiful city of Waterford, Michigan is the third largest township in the state of Michigan with just over 73,000 residents. The self-proclaimed "Lakeside Paradise" is located in Oakland County Michigan and was established in 1834. Waterford is a city that has a lot to offer both residents and visitors alike. The city of Waterford is located in Oakland County, and its central location makes it a very easy city to live in. Wateford is located on 35.3 square miles and has lots of parks, trails, and other activities for people to enjoy. Additionally, the Oakland County International Airport is located in Waterford, making for easy access in and out of the city of Waterford.

Waterford has a thriving professional community with many talented doctor, lawyers, accountants, and businessman working in various capacities. Waterford lawyers are some of the best in the business, and many come from the University of Michigan Law School and settle to practice in Waterford. Whatever the legal issue is, a Waterfod lawyer is available to help!

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