Charitable Giving in Inver Grove Heights, Minnesota

Find the right Charitable Giving attorney in Inver Grove Heights, MN

In Inver Grove Heights, Minnesota, "charitable giving" involves transferring 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, 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.

If you decide to make a sizable donation to a charity that will not actually 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 Inver Grove Heights, Minnesota

A charitable trust is an arrangement by which a large amount of money can be given to a charity after the death of the donor, or during the donor's life.

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 Inver Grove Heights, Minnesota, 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.

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

Do I Need a Inver Grove Heights, Minnesota Attorney?

If you want to set up a charitable trust, you should first speak with a representative of the charity you want to support. You should also talk with an experienced attorney in Inver Grove Heights, Minnesota, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.

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

Life in Inver Grove Heights

The charming city of Inver Grove Heights, Minnesota was founded in 1827 and has been booming ever since. Early pioneers to the area were attracted to Inver Grove Heights ideal location near the Mississippi River as well as its lush landscape. Inver Grove Heights was originally settled by Irish and German immigrants, and is now home to a wide-range of ancestries.

Inver Grove Heights is now home to close to 44,000 residents. The Minnesota city has over 28 square miles of rolling hills and enjoys great weather year round. Inver Grove Heights is also home to some of Minnesota's top golf courses. The sporty spirit is in the air in this city!

Inver Grove Heights has wonderful lawyers, business opportunities, housing, schools, and overall ambience. The many lawyers in Inver Grove Heights has helped create the thriving legal community in the city.

Every fall there is an Inver Grove Heights Day that includes a parade, fireworks display, street dancing, and various sporting activities. The family friendly affair is just one example of the amazing community spirit that Inver Grove Heights has cultivated over the years.

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