Charitable Giving in New Brunswick, New Jersey

Find the right Charitable Giving attorney in New Brunswick, NJ

In New Brunswick, New Jersey, 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.

In general, it's quite easy to make a charitable donation to a cause you want to help. Whether it includes writing a huge check, or dropping spare change in a donation jar, a large majority of charitable gifts are made simply by giving money away, with no intermediary or other intricate legal arrangements.

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 donating the money or property directly to the charity, through a provision in your will.

Charitable Trusts in New Brunswick, New Jersey

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

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 usually only permitted to use the money to advance their organization's charitable mission.

The most prevalent type of charitable trust in New Brunswick, New Jersey 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.

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 New Brunswick, New Jersey 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 efficient attorney in New Brunswick, New Jersey, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.

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

Life in New Brunswick

New Brunswick is located in Middlesex County, New Jersey. It is popular because it is home to Rutgers University. The city is located approximately 27 miles southwest of Manhattan. It is near the Raritan River.

New Brunswick's nickname is "the Healthcare City" because there are many hospitals. These hospitals include Robert Wood Johnson University Hospital, Saint Peter's University Hospital, and University of Medicine and Dentistry of New Jersey-Robert Wood Johnson Medical School.

Large employers include Johnson Johnson and Bristol-Myers Squibb. The legal industry is also present in New Brunswick because there are many law offices, and small to mid-size law firms in the city. The legal force here is trained to handle legal needs in all areas of law.

Popular attractions include the Albany Street Bridge, Highland Park, Old Queens, Buccleuch Mansion, St. Peter, the Delaware and Raritan Canal, Rutgers Gardens, and the Henry Guest House.

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