In Ossipee, New Hampshire, 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.
The easiest way to make a charitable gift is to just give the money or property directly to the organization you want to help.
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 obligations 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 commonly-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.
Charitable Trusts in Ossipee, New Hampshire
A charitable trust is an arrangement by which a large amount of money can be given to a charity after the death of the donor, or during the donor's life.
The money is still technically owned by the donor, but the charity, serving as a trustee, has the right to use it for charitable purposes, with the exact scope of this right having been laid out in the trust agreement.
In Ossipee, New Hampshire, a "charitable remainder trust" is the most common kind of charitable trust. This authorizes the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (typically in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will generate, becomes the legal property of the charity, to dispose of as it pleases.
Obviously, if you want to help a good cause, you want to make sure that any charity you donate to is legitimate. Sadly, there are quite a few fraudulent charities out there. The best 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 Ossipee, New Hampshire Attorney?
If you wish to set up a charitable trust, you should consult with the organization directly. They commonly know the easiest way to direct any charitable giving to their organization. You should also speak with a brilliant trusts and estates attorney in Ossipee, New Hampshire, who can help ensure that your intentions are carried out.