Charitable Giving in Kettering, Ohio

Find the right Charitable Giving attorney in Kettering, OH

In Kettering, Ohio, 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.

Most charitable donors, while they're alive, give their gifts in the simplest way possible: handing the money or property they wish to donate over to the individual or group they want to help.

Some generous donors will sometimes give virtually everything they own to charity. This is a wonderful thing to do, but it's not really practical - after all, just about everyone has bills to pay. One solution to this is to put off such a generous donation until after death. This allows the donor to meet their obligations during life, while having the satisfaction of knowing that a cause they care about will be given a large amount of assistance after their death.

There are many arrangements permitting you to donate some or all of your assets to a charitable cause after your death, but direct testamentary gifts (simply leaving money in your will to the charity of your choice) are the most frequent.

Charitable Trusts in Kettering, Ohio

Charitable trusts are normally used for very large donations, and can be made during the donor's life, or after their death.

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 gets possession and control over the money. The charity is then free to use that money, but only for the purposes laid out in the trust instrument.

The most frequent kind of charitable trust in Kettering, Ohio is a charitable remainder trust. This authorizes you to give as much money or property as you want to a charity. The money is then invested by the charity. The investments are normally fairly conservative, sacrificing large returns for security. The charity then returns a portion of these returns to the donor, or another person named by the donor, while keeping the rest. This lasts for a set period of time, at the end of which the charity gets full ownership of the original fund.

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

Do I Need a Kettering, Ohio Attorney?

Making a substantial charitable donation is a generous and admirable act. However, good intentions don't always lead to good results. To ensure 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 valuable to have a Kettering, Ohio lawyer handle these negotiations on your behalf, since they will likely understand the legal and financial complexities involved.

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

Life in Kettering

Kettering lies in both Greene and Montgomery County. It is a suburb of Ohio, nearby Dayton. The suburb is of decent size, with an approximate population of 56,170 people.

The suburb has three popular attractions. First is Fraze Pavilion, which is an outdoor entertainment venue. Next is Dayton Philharmonic, which is also an entertainment venue. Lastly, there is the Town and County Shopping Center, a great open-air mall to do some shopping and grab some food!

Famous residents include Tony P. Hall, John Paxson, Jim Paxson, Brooklyn Decker, Brady Hoke, and Kim Richey.

Kettering is also home to some attorneys. These attorneys are able to provide residents with excellent legal guidance, as well as referrals, if need be.

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