Charitable Giving in Norman, Oklahoma

Find the right Charitable Giving attorney in Norman, OK

In Norman, Oklahoma, "charitable giving" refers to the act of donating money or property, for selfless motives. It necessarily means that the donor does not plan on receiving any direct compensation for whatever they have given.

In life, charitable giving usually simply involves writing a check or handing cash over to the charitable organization of the donor's choice.

Some people, however, may be especially dedicated to a certain cause, giving rise to a desire to donate a very large percentage of their assets to it. However, during life, this is usually infeasible, since people have their own expenses that they have to cover. So, people often put off this donation until after their death.

If you want to make a donation that's effective after your death, there are a few ways to do this. The most common method is also the simplest: leaving the charity whatever property you want to give to it in your will - this is known as a "testamentary gift."

Charitable Trusts in Norman, Oklahoma

A charitable trust is an arrangement by which a large amount of money can be directed to a charity after the death of the donor, or during the donor's life.

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 initially established the trust.

The most common type of Norman, Oklahoma charitable trust is known as a "charitable remainder trust." Under this arrangement, some of your money or property is directed to your charity of choice. The charity then invests the money, while giving a percentage of the income generated by these investments to you or a beneficiary of your choice, for a determinate period of time. Once this time is up, ownership of the original fund transfers to the charity.

Wanting to help a charitable cause is, of course, a good thing. Nonetheless, some people seek to take advantage of our good intentions through fraudulent charities. If you want to help ensure that any money you donate to an organization is actually used for a charitable cause, and that your donation will be tax-deductible, you should check to see that the organization is actually tax-exempt. You can find this information from the IRS and/or the agency accountable for taxation in

Do I Need a Norman, Oklahoma 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 Norman, Oklahoma, who will usually be able to make the process much easier.

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Life in Norman

Norman, Oklahoma is a major city in Cleveland County. It is the county seat and the center of the county's employment and business development. It is located about 20 miles away from Oklahoma City and has a population of about 111,000 people. Norman's economy is driven primarily the research industry and higher education. The University of Oklahoma is located in Norman, Oklahoma and has about 30,000 students enrolled.

Home of the Sooners, the University of Oklahoma is a central point of Norman culture and society. The University employs many Norman residents and contributes much to the research and development industry in the area. Many city events, festivities and sporting events are held at the University of Oklahoma. The largest weekend festival in the state of Oklahoma is the Medieval Fair, which draws crowds of well over 300,000 people. Other popular events include music gatherings such as Groovefest and Jazz in June

In addition to the University of Oklahoma, many other major employers are located in Norman, Oklahoma. These include Sysco Corporation and ATT. Scientific research is also popular in Norman. Examples of scientific ventures in Norman include the Oklahoma Geological Survey and the Oklahoma Renewable Energy Council.

Norman, Oklahoma is a great contributor to the progress of Oklahoma state. Norman lawyers provide a diverse range of legal services and are members of civic and community service organizations. Lawyers in Norman, Oklahoma often assist their clients at the Municipal Court of Norman, located in the city.

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