Why create a Yeshiva Legacy?
Jewish tradition teaches that one of our key duties is to make the world a better place for future generations.
Whether you use a will or other estate planning vehicle, your generosity can do a world of good. A kollel estate planning professional can help you start this rewarding process.
Your legacy can reflect everything that is most important and meaningful to you. The legacy planning process can engender heartfelt conversations with your family and build bonds with your partners in the community.
The act of creating a legacy empowers you to complete the work of your heart, and to enjoy the peace that it brings. You are assured that your work will continue and the Jewish future will be bright.
How Do I Create a Kollel Legacy?
Everyone has a unique family and financial situation. Your legacy gift of any size can be designed to match your personal circumstances.
Options include:
- A simple charitable bequest
- An outright gift using appreciated assets or cash
- An IRA or pension plan
- A life insurance policy
- A charitable gift annuity
- A charitable remainder trust
Charitable Bequests
You can create a permanent legacy by leaving a bequest of a specific amount of cash, a percentage of your estate or the remainder of your estate. There’s no limit on the amount you may set aside from your estate–you can make a gift as large or small as you’d like. (Some agencies may have minimum requirements for establishing an endowment.)
You may choose to make a gift of cash, securities or other property–and your estate will receive a tax deduction in the amount of your charitable bequest. A charitable bequest allows you to retain use and control over your assets during your lifetime.
A bequest is a legacy gift, distributed from the donor’s estate after the end of his or her life. If not designated, it can be spent in the year that it is captured. An endowment is a fund that is held in perpetuity, distributing a specified percentage annually to the designated purpose. For example, a Lion of Judah Endowment (LOJE) and Perpetual Annual Campaign Endowment (PACE) are funds that are held by the federation/ foundation and distributed each year to the Annual Campaign. An endowment can be established by bequest or during the donor’s life.