In King, 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.

The easiest 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 create 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 giving the money or property directly to the charity, through a provision in your will.

Charitable Trusts in King, North Carolina

Charitable trusts are arrangements that involve handing possession (but not necessarily ownership) of money or property over to a charity, either during the donor's life, or after their death.

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 first created the trust.

The most common type of charitable trust in King, North Carolina is a charitable remainder trust. Under this arrangement, you give a certain 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.

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

Do I Need a King, North Carolina 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 experienced attorney in King, North Carolina, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.