What is the ruling on hurrying to take a paper on which one of the names of Allah Almighty is written with the intention of burning it, and what is the best course of action then?

One must hasten to pick up any paper that contains a name of Allah Almighty, because leaving it is considered a desecration. The same applies to throwing a Mus'haf in a dirty place or soiling it, because maintaining this state is like initiating it. One should hasten to pick them up out of reverence for the rituals of Allah.