Charitable Giving in Burlington, North Carolina

Find the right Charitable Giving attorney in Burlington, NC

In Burlington, North Carolina, 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.

What if, on the other hand, a donor wishes to give everything they own (or a considerable chunk of everything they own) to a charity? This is extremely generous, of course, but it's rarely possible during life, considering the expenses and commitments we all have. On the other hand, most people don't think they'll be needing their money after they die. Knowing this, many arrangements have been created permitting a person to have as much of their money as they want transferred to a charity of their choice after their 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 typically-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Burlington, North Carolina

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.

In a charitable trust, the property is still technically owned by the donor, but the recipient retains possession and control over it. As the trustee, the charity is free to use the money for any purpose laid out in the trust agreement. With a charitable trust, trustees are typically only authorized to use the money to advance their organization's charitable mission.

If a person decides to set up a charitable trust in Burlington, North Carolina, they normally 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 (normally 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.

Many charitable donations are deductible from your state and federal taxable income. But, in order for your donations to count, the charity should be registered with the IRS and equivalent institution in .

Do I Need a Burlington, North Carolina Attorney?

If you wish to set up a charitable trust, you should consult with the organization directly. They commonly know the simplest way to direct any charitable giving to their organization. You should also speak with a seasoned trusts and estates attorney in Burlington, North Carolina, who can help ensure that your intentions are carried out.

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

Life in Burlington

Burlington, North Carolina is a city in Alamance County. It has a population of more than 50,000 people.

Burlington, North Carolina is known for being the site of the War of The Regulation, which was a revolt against the colonial British government, and predates the American Revolutionary War. Although it was unsuccessful, it may have been a catalyst that helped kick off the wider revolution.

Modernly, Burlington, North Carolina is a thriving, business-friendly community. It hosts the headquarters of LabCorp, one of the largest clinical lab companies in the world, and one of the early pioneers of genetic testing. Burlington is served by a fairly extensive rail network, connecting it to New York, Philadelphia, and Washington, among several other major cities on the East Coast.

The city's daily newspaper is also one of the area's major media outlets.

According to census data, Burlington is an ethnically-diverse community, with significant Hispanic and Asian-American communities.

Given the wide variety of businesses, and relatively large number of residents, in Burlington, North Carolina, it's not surprising that Burlington, North Carolina lawyers typically find their services in demand. Because of the variety of cases they're likely to face, they must be prepared to handle many different types of legal issues, so chances are that there's a Burlington, North Carolina lawyer who can handle your case.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Regel B.
Regel B.

Wills, Trusts and Estates

Caldwell, LA

Brad M.
Brad M.

Wills, Trusts and Estates

Sussex, NJ

David L.
David L.

Wills, Trusts and Estates

Ashland, OH

Gotham Light