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Leave a Legacy

You can leave you legacy with a Bequest, Life Income Gift or Life Insurance Gift.

 

Bequest

A bequest is a powerful estate-planning device for distributing your assets from a will or trust. It speaks volumes about your values and your commitment to the compelling causes you have spent a lifetime supporting.

Your bequest allows you to support those organizations that have been meaningful to you during your lifetime without giving up the right to enjoy your assets now. You state in your will or trust a gift of a specific dollar amount, a percentage of your estate or the residue of your estate, to be received by Federation upon your passing. There is no limit on the amount that can be provided from your estate for a charitable gift. Your gift may be as large or as small as you’d like. Your charitable gift may include cash, securities, real estate or personal property. If you have already drafted your will, your attorney can prepare a simple amendment or codicil to provide for your charitable gift.

You direct can also direct the use of your gift to the most pressing need or for a more specific purpose for example typical gift language in a trust or will would be as follows:

If you want to help the Jewish community address its most pressing current needs:

I bequeath $_______ (or ___ percent of my residuary estate, or specified property) to the Jewish Federation of St. Louis for its general purposes.

If you want to provide a gift to a specific agency or area of interest:

I bequeath $_______ (or ___ percent of my residuary estate, or specified property) to the Jewish Federation of St. Louis to support (a particular agency or organization, an existing fund of the Jewish Federation of St. Louis or a specific area of interest.)

These examples are meant as suggestions. The staff of the Jewish Federation of St. Louis would be happy to speak with you or your legal advisor to develop language that reflects your specific objectives.

If you have any questions or to request information contact:

Tim Henry
Director, Endowments & Planned Giving
(314) 442-3774

 

Life Income

Life Income Gifts allow you to support causes that you care about while maintaining your financial security. Your legacy gift to the Jewish Federation of St. Louis will pay an income to you and/or another beneficiary from the investment of the assets. Upon the death of the last beneficiary, the remaining value of the Trust will pass as a gift to the Jewish Federation of St. Louis to be used as you have designated.

Life Income Gifts can be made during one’s lifetime, or at death to benefit your heirs, and offer a variety of financial, tax and estate planning benefits. You simply make an irrevocably gift transferring securities money or other property to the Jewish Federation of St. Louis, which manages the investment of the assets and pays an income to you, your designated beneficiaries or both.

Life Income Gift allows you to make a legacy gift without parting with the income you receive from the asset, there are several types of Life Income Gifts with income payments differing depending on the type of Life Income Gift you establish, giving you a range of choices in your financial and estate planning:

Charitable Gift Annuity (minimum $5,000) pays an annual fixed amount to you or your beneficiary for life. The annuity payment amount depends on the beneficiary’s age at the time of the gift and the value of the property donated.

Charitable Remainder Unitrust (minimum $100,000) pays an annual income to the beneficiary throughout their lives or for a term of years. Income is not fixed at a specific dollar amount, but instead is a percentage of the trust’s value, usually between five and nine percent. This allows for income growth as the trust’s assets grow in value.

Charitable Remainder Annuity Trust (minimum $100,000) pays a dollar amount mutually agreed upon by donor and the Jewish Federation of St. Louis when the trust is established. The amount selected is usually between five and nine percent of the initial fair market value of the property transferred to the trust. When the term of income payments is completed, the remaining assets are distributed to one or more charitable organizations designated by the donor.

If you have any questions or to request information contact:

Tim Henry
Director, Endowments & Planned Giving
(314) 442-3774

 

Life Insurance

Life insurance policies are an affordable way to leverage relatively small yearly investments to make substantial gift to the Jewish Federation of St. Louis upon your death or to fund a future charitable endowment for a specific agency or program. You don’t have to wait until you’ve accumulated assets to become a community benefactor. With a gift of insurance, you can create a large impact, even if you don’t currently have the funds to do so.

There are several ways you can use a life insurance policy to meet your philanthropic goals:

Transfer ownership of an existing policy
You may gift a policy that has outlived its original purpose or simply is not needed any longer. When you transfer ownership to the Jewish Federation of St. Louis and name it as the beneficiary, you receive an income tax deduction for the cash value of the policy.

Purchase a new policy
You may buy a new policy and name the Jewish Federation of St. Louis as owner and beneficiary. You then receive an income tax deduction for all premiums paid on the policy.

Make the Jewish Federation of St. Louis a beneficiary of your policy
You may add the Jewish Federation of St. Louis as a partial or sole beneficiary of an existing or new policy. Since the Jewish Federation of St. Louis is a charitable beneficiary, any funds that go to Federation will be deductible from your federal estate taxes. When the policy matures, the proceeds are paid to Federation, and we apply them to the agency or program you have designated.

If you have any questions or to request information contact:

Tim Henry
Director, Endowments & Planned Giving
(314) 442-3774