At Donald R. Fuller, Jr., PLLC, I am a North Carolina charitable planning and trusts attorney who offers comprehensive counsel to those looking to support a worthy cause. My firm explains the tax ramifications of various types of gifts and prepares the documents necessary to create trusts and other funding mechanisms.
As an experienced Catawba County trusts attorney, I can craft a smart strategy to coordinate your charitable contributions. I’ll take the time to learn about what type of philanthropy means the most to you and help you accomplish your goals in a manner that benefits both those you are trying to help and yourself. You can count on me to outline potential tax benefits associated with gifts that you make while you are still alive, as well as trusts and bequests you intend to fund upon your death. Failing to take proper care with charitable contributions could lead to problems for both you and the charity.
My firm can outline a wide range of charitable giving options that you can make part of your overall trust and estate plan, including:
No matter what your specific plans entail, I can help you find the best way to make a positive difference for someone else.
You can make an existing charity the beneficiary of your trust or start a new organization with your endowment. Many people donate money to help others, but real estate, investment assets and even tangible items are also transferred to charitable trusts. For example, you might place a valuable artwork or antique in a charitable trust that gives you the ability to keep it in your home for the rest of your life, then have the possession transferred to a museum.
Establishing a charitable trust offers a variety of potential benefits. These trusts are usually irrevocable instruments so many people gain a tax advantage by shifting funds there. If you hope to provide long-term support for a particular cause, these trusts can continue on under the terms you set after your death. Though you can set detailed instructions regarding the preservation and distribution of your endowment, once the assets are transferred to an irrevocable charitable trust, you can no longer recover them for personal use.
New and existing charitable organizations face complex challenges when allocating their funds and complying with the strict regulations that govern nonprofits. I assist clients with the development of endowment programs, the creation of guidelines to maintain charitable status and the formation of grant-making policies.