Charitable Giving in Concord, North Carolina

Find the right Charitable Giving attorney in Concord, NC

In Concord, North Carolina, 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.

What if, on the other hand, a donor wishes to give everything they own (or a significant chunk of everything they own) to a charity? This is very 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 allowing 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 actually occur until after your death, the easiest (and most largely-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Concord, North Carolina

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.

Under a charitable trust, the money going to the charity technically still belongs to the donor. Nonetheless, the charity, acting as a trustee, has power to use it for charitable purposes (what the money can and can't be utilized for should be clearly laid out in the trust).

If a person decides to set up a charitable trust in Concord, North Carolina, 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.

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 Concord, North Carolina 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 Concord, North Carolina 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 Concord

Concord, North Carolina has a storied history dating back almost 200 years. Named concord, meaning "harmony" the city of Concord is a harmonious mix of business and pleasure for tourists and residents to enjoy. Interestingly enough, Concord was honored with an "Outstanding American City" award in 2004.

With an estimated population just under 80,000 residents, Concord has an amazing legal culture with many talented lawyers for their residents to make use of whenever a legal issue may come their way. Concord lawyers are talented and trained in a range of legal specialties with years of practice to better serve their legal clients. If you find yourself in need of a lawyer in Concord, you dont have to travel far to find one!

Aside from stellar lawyers, Concord is also home to NASCAR research and development office and also home to nationally prominent racing teams. Concord is the second largest city in the Charlotte Metropolitan area, ranking just behind the state's capital. Concord education system includes both public and private schools and many local Concord attorneys grew up in the city and attended these schools. Whether you are looking for relaxation, NASCAR, or an experienced attorney, Concord has it all!

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