There are many different ways to Create A Jewish Legacy.
Everyone has a unique family and financial situation, and your legacy gift of any size can be designed to suit your personal circumstances. Some can even be completed without the help of an advisor, although you are always encouraged to consult with a professional.
Utilizing the giving vehicle that works best for you, funds are placed at the Jewish Endowment Foundation, whose business it is and has been since 1967 to wisely invest and manage money for the Jewish community and other charitable causes. You, as a legacy donor, decide what agencies, synagogues, charities, or specific causes should benefit from this fund. The Jewish Endowment Foundation will distribute those monies as you request.
What is planned giving?
Many potential donors want to give a charitable gift but are unable to do so immediately since they need their assets in order to provide income to themselves, their spouses, or others. For these donors the solution may be a form of planned (or deferred) giving. With deferred giving, the charity receives full use of the gift asset at a later date.
Planned gifts provide many benefits including the satisfaction that donors have knowing they are helping an organization to fulfill its mission for generations to come. Another benefit is peace of mind in knowing that estate plans are in order and that personal needs as well as those of loved ones will be met while charitable intentions will be fulfilled upon death. Additionally, many deferred gifts receive favorable tax treatment. Capital gains taxes can often be avoided or deferred, and some deferred gifts receive charitable gift deductions on federal income tax.
Giving options include:
Outright Gifts using appreciated assets or cash. All of the Create A Jewish Legacy partner organizations in the Jewish community have CJL funds set up at the Jewish Endowment Foundation for these monies to be placed so that they will be invested and grow in perpetuity.
Planned Gifts (also known as Deferred Gifts). See explanation of giving vehicles below.