Charitable Giving in Jackson, Mississippi

Find the right Charitable Giving attorney in Jackson, MS

In Jackson, Mississippi, charitable giving is when a person gives 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 usually simply involves writing a check or handing cash over to the charitable organization of the donor's choice.

Some generous donors will sometimes give practically 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 giving the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Jackson, Mississippi

A charitable trust is an arrangement through which some amount of money or property is directed to a charity after the donor's death, or throughout their life.

In a charitable trust, the money that is donated is still legally owned by the donor. But this is largely a formality, as the charity receives possession and control over the money. The charity is then free to use that money, but exclusively for the purposes laid out in the trust instrument.

If a person decides to set up a charitable trust in Jackson, Mississippi, they usually set up a "charitable remainder trust," since this is usually beneficial to both the donor (or their estate) as well as the charity. The operation of this type of trust is fairly simple: at a set time (usually the donor's death) the property that the donor wants to give to the charity is handed over, and the charity invests it. The charity benefits by getting to keep most of the money that these investments generate. The donor benefits because they also get a percentage of this income, for a period of time laid out in the trust agreement. Afterwards, the recipient of the donation gets it free and clear.

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

Do I Need a Jackson, Mississippi Attorney?

Making a substantial charitable donation is a generous and admirable act. Nonetheless, good intentions don't always lead to good results. To guarantee 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 Jackson, Mississippi 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 Jackson

Jackson is home to a number of major industries like machinery, electrical equipment, processed food, metal fabrication. The city is also home to a wide variety of religious entities like the Reformed Theological Seminary, headquarters of the Church of Christ, the Beth Israel Congregation, and the Episcopal Diocese of Mississippi. Jackson lives up to its nickname, "Crossroads of the South" in so many ways.

Ballet Mississippi is run by famous Artistic Director David Keary inJackson. The company hosts performances as well as admitting a numberof the United States' best performers who go onto perform for thenearby Mississippi Metropolitan Ballet. Jackson is also home toMississippi Museum of Art, Mississippi Symphony Orchestra (formerlythe Jackson Symphony Orchestra), as well as the remarkable MississippiAgriculture and Forestry Museum. You might surmise then that Jacksonis a hotspot for tourists.

Tourism plays a healthy role in the diverse Jackson economy. The cityis famous for Gospel, Blues, and RB ties to notable musicians likeJohnny Cash and Nancy Sinatra. Jackson is also famous for its roleduring the Civil Rights Era.

A number of talented lawyers live in Jackson because it encompassesmany important Mississippi State and county courts. Jackson,Mississippi lawyers have experience with local court procedures andare ready to consult on any issue.

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