Giving Away Christmas

 

This guest post is from Abbey Hayes, Regent Law 3L and Wills, Trusts, and Estates student:

 

Christmas season is upon us! Christmas is such a special time, as we celebrate Christ’s birth with our loved ones. Oftentimes, the miracle of Christ’s birth is forgotten in the busyness of the holiday season. 

 

I confess, I’m often more worried about wrapping presents, running to Christmas parties, getting a Starbucks red cup, and my travel plans than reminding myself to soak in the beautiful season of advent. But as I pause and reflect, I think about the true “gift” that is Christ. Sometimes I forget about the miraculous birth to a virgin (someone who was likely 9 years younger than me), the reconciliation of Mary and Joseph through a providential dream, and a single star that guided those seeking the King. Absolutely amazing! 

 

Through Christ, I have been given a gift I can never repay: salvation. I don’t know about you, but that makes me excited to give back. Money is fleeting, material things are meaningless after Earth, and comfortability leads to a lack of depth - sometimes a lack of reliance on God. These reflections make me want to give away this Christmas and prompt others to do the same. 

 

I encourage you to seek out an attorney and consider creating a charitable trust. This is a testamentary instrument that allows a testator to devise a portion of his or her estate at death to charity with a specific purpose, instead of a one time donation people often make during the holidays, in which the donor typically cannot specially address how the money will be used. 

 

Charitable trusts are enforced by the state attorney general, which guarantees that they will be administered by an unbiased party that actually knows what they are doing, unlike a lay person. Additionally, they are not subject to certain chronological barriers, like the Rule Against Perpetuities. All of these mechanisms were created as protection for the testator, so his or her intent will be carried out to assist a charity in need. 

 

In Virginia, a charity is formed through, Va. Code § 64.2-723(A). 

 

Charitable Purposes.

May be created for relief of poverty, advancement of education or religion, promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community. 

 

Therefore, a charity can consist of many different things (but not a person) that you may be compelled to financially benefit. 

 

Let’s give back as God so freely gave to us! To further that message, consider creating a charitable trust this holiday. Merry Christmas!