"I did not find the world desolate when I entered it.
And as my parents planted for me before I was born, so do I plant for those who will come after me." -Talmud

CHARITABLE BEQUESTS

Make a gift that will endure the test of time.

 
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For questions regarding:

EXISTING FUNDS

Contact Denise R. Bennett

734-677-0100

denise@jewishannarbor.org

 

CREATION OF NEW FUNDS

Contact Sharyn Gallatin

734-677-0100

sharyn@jewishannarbor.org

WHAT IS CHARITABLE BEQUEST?

Your Will is an important element in your estate planning that enables you to protect the people you love, create a lasting partnership with Federation and help ensure the future of the Jewish community.

 

A statement about the things that were important to you in your lifetime, your Will is your formal, legal instrument to protect and ensure that commitment for future generations. 

 

Can anything be more important? Yet, more than 60% of all Americans die without a Will.

BEQUESTS CAN BE MADE USING:

  • Cash

  • Marketable Securities (e.g., stocks or bonds)

  • Investment Real Estate

  • Interest in a Family or Closely Held Business

  • Personal Property (e.g., art, jewelry, coins)

  • Retirement Plan


WHAT ARE THE BENEFITS TO YOU?

  • Reduces your taxable estate

  • Has unlimited federal estate tax deductibility
  • Can be completely unrestricted as to its use, or you may designate a particular agency or field of interest that you wish to benefit directly.

A PROMISE FOR THE FUTURE

Not ready to create your personal legacy but do know that you want to do so in the future? You can declare your intention to establish a charitable bequest to express your enduring commitment to your Jewish community by signing a Declaration of Commitment today.

 

While not a legal document, your Declaration of Commitment is your promise to include the Jewish Community Foundation in your estate plan.

 

For additional information about a charitable bequest to the Foundation, or to sign your Declaration of Commitment, contact Sharyn Gallatin, Financial Resource Development Director at 734-677-0100 or contact your personal financial advisor.

SAMPLE DECLARATION OF COMMITMENT LANGUAGE

The following language is a sample you can provide to your attorney. The exact language you use will vary depending on your circumstances.

 


I bequeath to the Endowment Fund of the Jewish Community Foundation of Greater Ann Arbor, Ann Arbor, MI, the sum of _______________ dollars ($__________) (or __________% of the residue of the property owned by me at my death), to establish a permanent fund to be known as the _______________________ Fund on the records of said Endowment Fund of the Jewish Community Foundation of Greater Ann Arbor.

LIFE INSURANCE

Another way to create a substantial future endowment through reasonable annual payments is with a gift of life insurance.

 

When you name the Jewish Community Foundation as the owner and irrevocable beneficiary of an existing life insurance policy, you receive an immediate income tax deduction based on the cash surrender value of the policy.

WHETHER YOUR GIFT IS OF A NEW OR AN EXISTING POLICY:

You'll receive a charitable deduction each year based on your annual gift to cover premium payments as long as the policy is owned by the Foundation.

 

Either way, your contribution of relatively small annual amounts creates a sizable gift to your community's future.

RETIREMENT PLANS

Qualified retirement plan assets (including IRAs) are often particularly well suited for endowment giving. In fact, at the time your assets pass to the next generation, proceeds of retirement plans can be among the most heavily taxed assets in your estate. 

 

But if you use these assets to create an endowment fund (after the death of both you and your spouse), your estate can realize substantial income and estate tax savings.

WHAT ARE THE BENEFITS TO YOU?

  • Substantial income tax savings for your estate (making this type of asset one of the most advantageous for charitable giving)
  • Unlimited federal estate tax deductibility
  • Flexibility, simplicity and confidentiality

For more information about how life insurance and retirement plan gifts can work for you and your community, contact Sharyn Gallatin, Financial Resource Development Director at 734-677-0100 or contact your personal financial advisor.

This material is presented for informative purposes only and should not be construed as legal or tax advice.

Always consult your lawyer or tax advisor when you are considering gift planning strategies.

Note: Changing your policy's beneficiary designation, or your plan's successor or contingent beneficiary designation, is a simple process; however, it cannot be done through your Will.  Please contact your agent, insurer, plan administrator, or IRA custodian for the necessary forms.