Charitable Giving Lawyers

Authored by , LegalMatch Law Library Managing Editor and Attorney at Law

Find a Lawyer

What is Charitable Giving?

Charitable giving is the giving of wealth to a charitable cause. Charitable giving can be done both in life and in death, most commonly via a will or trust. Charitable giving serves the dual purposes of helping a charitable cause and giving the donor and their heirs a significant tax break.

Charitable Trusts

A charitable trust is like any other trust - it is a property interest held by one person for the benefit of another. The only difference between a charitable trust and other types of trusts is that a charitable trust is always irrevocable. Once you establish a charitable trust you cannot reclaim your property interest. The most common type of charitable trust is a charitable remainder trust.

How Does a Charitable Remainder Trust Work?

Establishing a charitable remainder trust is a relatively simple thing to do. The following is a general guideline of how a charitable remainder trust functions:

Advantages of a Charitable Trust

There are several tax advantages to creating a charitable trust:

Tax Advantages of Gifts

Giving gifts to your loved ones while you're alive has significant tax advantages when compared to giving gifts through a will or trust. For example, an unlimited number of $11,000 gifts of cash or property each year can be given tax-free to anyone. Also, as long as your spouse is a U.S. citizen, all gifts are tax-free.

Do I Need an Attorney for my Charitable Giving Matter?

You should always confer with a lawyer to plan the distribution of your estate. Lawyers understand the tax implications of estate planning, and will guide you through the difficulties associated with drafting wills and trusts. A lawyer will also help explain charitable giving, and how best to draft charitable trusts.

Vea esta página en español: Donaciones Benévolas o visita Abogados-Leyes.com para más información legal.

Consult a Lawyer - Present Your Case Now!
Last Modified: 11-28-2011 04:44 PM PST

Find the Right Lawyer Now

Did you find this article informative?

Link to this page

Law Library Disclaimer

Charitable Giving Lawyers, charitable remainder trust,charitable giving,charitable trust,charitable remainder,tax advantages,trust property,significant tax,charitable,trust,giving,property,gifts,charity,remainder,advantages