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Helping Hands

Nonprofit Organization Start-Up

Create a Common Nonprofit Organization

​This service includes:

  • Registering the nonprofit with all required federal and state governmental offices

  • Filing for 501(c)(3) tax-exempt status

  • Filing all documents for federal & state tax-exempt status

  • Drafting all required policy statements

  • Drafting fundraising, economic development, and management plans

  • Preparing documents for the first board meeting and attending to answer questions about the formation process

The Intersection of Nonprofit Creation and Estate Planning

For some individuals and families, the creation of a nonprofit organization and a Charitable Remainder Trust are robust estate planning tools. The Law Office of Sylvie Richards, PLLC encourages clients to explore these options in the following circumstances:

  • If an individual has no beneficiaries.

  • If continuous income needs to be provided for a family member.

    • A Charitable Remainder Trust dispenses income to one or more noncharitable beneficiaries for a specified period and then donates the remainder to one or more charitable beneficiaries.

  • If someone has not planned for retirement and needs an income stream.

    • Charitable Remainder Trusts can also offer benefits for retirement planning by providing an annuity income to the grantor.

  • If someone requires a lifetime income due to illness or disability.

    • The term of a Charitable Remainder Trust can be for up to 20 years or for the lifetime of one or more noncharitable beneficiaries.

  • If individuals or families have hard-to-value assets.

    • Assets that can be donated to a Charitable Remainder Trust include cash, stocks, art, real estate, private business interests, and private company stock.

  • If individuals or families anticipate estate taxes.

    • A Charitable Remainder Trust is a tax-exempt irrevocable trust (i.e., they cannot be modified or terminated without the charitable beneficiaries’ permission) designed to reduce the taxable income of individuals.

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