Charitable Giving in Gulfport, Mississippi

Find the right Charitable Giving attorney in Gulfport, MS

In Gulfport, Mississippi, charitable giving is when a person donates something to an organization or individual, without consideration (getting something directly in return). This is for the purpose of advancing some type of cause, helping people in need, or any other altruistic motive.

In life, charitable giving normally simply involves writing a check or handing cash over to the charitable organization of the donor's choice.

Some generous donors will sometimes give basically everything they own to charity. This is a wonderful thing to do, but it's not really practical - after all, just about everybody has bills to pay. One solution to this is to put off such a generous donation until after death. This allows the donor to meet their obligations during life, while having the satisfaction of knowing that a cause they care about will be given a large amount of help after their death.

There are many ways you can donate some or all of your property or money to a charity after your death, if you wish to do so. Direct testamentary gifts are the most common and the most simple way to accomplish this. A testamentary gift simply entails transferring the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Gulfport, Mississippi

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

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 initially formed the trust.

In Gulfport, Mississippi, a "charitable remainder trust" is the most typical kind of charitable trust. This authorizes 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 (typically 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 produce, 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 valid. Sadly, there are quite a few fraudulent charities out there. The ideal 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 Gulfport, Mississippi 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 accomplished attorney in Gulfport, Mississippi, 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 Gulfport

Gulfport is located in the state of Mississippi. With a population of over 71,000, it is the co-county seat of Harrison County, alongside the city of Biloxi. The city was incorporated in 1898 and had its beginnings as a port and lumber city. It contains over 6 miles of man made white-sand beaches by the Gulf of Mexico.

Gulfport is a residential city that also boasts a strong economic center of industry. The Gulfport Main Street Association oversees the development of the downtown area. The city is home to several companies as well as the U.S. Navy Seabees. Notable residents have included NFL quarterback Brett Favre and linebacker Rod Davis.

The city's Leisure Services offer a variety of community-centered activities at its many parks and recreation centers. Other popular places to visit are the Gulf Islands Water Park and the Gulfport Sportsplex, which attracts many sports tourists. Every year the city hosts what is known as the "World's Largest Fishing Rodeo".

Gulfport has survived a great deal of damage from hurricanes, including Hurricane Camille in 1969 and more recently Hurricane Katrina. The state of Mississippi has issued a Hurricane Katrina Disaster Training Manual for those who have been affected, including Gulfport lawyers. Lawyers in Gulfport, Mississippi have contributed greatly to the rebuilding of the city.

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