There are many different ways you can provide charitable benefits through estate planning. Planning for charitable distributions is the only way they can occur upon your death because a charity is not an heir under the laws of intestacy. Therefore, if you have charitable intentions, you must carry them out during lifetime by making lifetime gifts or providing for them in your Will or Revocable Trust. I will describe some of the charitable planning available.
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Forming a not-for-profit
If you are interested in forming a charity or a not-for-profit club for your organization, it is necessary to first determine what form of entity is most beneficial to carry out your charitable or not-for-profit purpose.
There are several forms acceptable to the Internal Revenue Service. After your entity is organized, it will be necessary to complete any required source documents and complete and file Form 1023- Application for Exempt Status with the IRS to be taxed as a charity or not-for-profit organization.
Completing Form 1023 can be a daunting task, but I am well-versed in the requirements and specificity required on the application so that your application for exempt status will be approved as quickly as possible. I look forward to assisting you.