Charitable Giving in Greensboro, North Carolina

Find the right Charitable Giving attorney in Greensboro, NC

In Greensboro, North Carolina, charitable giving is when a person transfers 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.

The simplest way to make a charitable gift is to just give the money or property directly to the organization you want to help.

Some people want to give a larger percentage of their assets to a charitable organization than would be feasible during life, so they formulate some type of arrangement under which the money will be transferred upon the donor's 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 donating the money or property directly to the charity, through a provision in your will.

Charitable Trusts in Greensboro, 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.

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.

The most prevalent type of charitable trust in Greensboro, North Carolina is a charitable remainder trust. Under this arrangement, you give a specific amount of money or property to a charity. The charity then invests this money, giving you or a named beneficiary a portion of the income generated from these investments for a set amount of time. Once this expires, the money that was initially invested goes to the charity, free and clear.

If you wish to set up a charitable trust in you should check with the IRS and equivalent state agencies to confirm that the charity you want to help is registered with them. This will help make sure that your money is utilized for a good cause (and not to line somebody's pockets) and that your contribution will be tax-deductible.

Do I Need a Greensboro, North Carolina Attorney?

When attempting to create a charitable trust, or make another charitable donation, the first thing you should do is discuss this with the organization you want to make the donation to. They will probably be able to advise you on how to donate your money in the way that will be most useful to them. And, of course, you should speak with an attorney in Greensboro, North Carolina, who will typically be able to make the process much easier.

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

Life in Greensboro

Greensboro, North Carolina has many wonderful sights and attractions for everyone to enjoy. For those who really want to experience the culture of Greensboro, there is more than enough to see. Greensboro is filled with art galleries such as the Tyler White Gallery, Irene Cullis Gallery and the University of North Carolina's AT State University Gallery. Other cultural attractions include the Greensboro Symphony Hall, Livestock Players Musical Theatre, the International Civil Rights Center Museum, and the Greensboro Historical Museum.

For those who enjoy some history along with culture, Greenboro has many attractions that serve an educational purpose by displaying the area's rich history. These attractions include the Natural Science Center, Tannenbaum Historic Park, Bicentennial Garden David Caldwell Historic Park, The Greensboro Arboretum, and War Memorial Stadium. As you can see, each attraction in Greensboro includes a rich sense or culture or history. Greensboro therefore guarantees that no visitor leave without being touched with the area's rich culture and historical background.

Greensboro is also home to many prestigious law firms whose practices include all areas of law, from criminal defense, to environmental, to corporate. Therefore, the residents of Greensboro are ensured that their legal needs will be met by intelligent, reliable, and experienced lawyers capable of handling any legal matter.

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