In Mahanoy City, Pennsylvania, "charitable giving" refers to the act of transferring 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.

The simplest 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 implement some type of arrangement under which the money will be transferred upon the donor's death.

There are many ways to give a charitable gift that does not take effect until after the donor dies. The simplest and least intricate way to do this is a simple testamentary gift in a will - wherein a specific amount of the donor's money is transferred to the charity upon the donor's death.

Charitable Trusts in Mahanoy City, Pennsylvania

Legal arrangements identified as "charitable trusts" are also utilized to give large amounts of money to charity. It can be used to make the gift quickly, or it can be set to take effect after the donor's death.

Under a charitable trust, the money going to the charity technically still belongs to the donor. Nonetheless, the charity, acting as a trustee, has power to use it for charitable purposes (what the money can and can't be utilized for should be clearly laid out in the trust).

In Mahanoy City, Pennsylvania, a "charitable remainder trust" is the most typical kind of charitable trust. This permits 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 (usually 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 produce, 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 valid. Sadly, there are quite a few fraudulent charities out there. The ideal 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 Mahanoy City, Pennsylvania 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 Mahanoy City, Pennsylvania, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.