How do I leave a gift for a charitable organization that I admire?
It's easy. You can arrange for a gift in several ways, the most common being through a charitable gift in a will or a living trust. Many people set aside a certain dollar amount. Others leave a percentage of their estate, or any assets left over after they have provided for their family. Others leave a paid-up life insurance policy, retirement account, or other financial investment.
Must I have an estate in order to leave a legacy?
Everyone can leave a legacy. "Estate" is simply a word used to describe any money, property, or personal belongings that you own at the time of your death. Most people leave an estate when they die, even though they may not have a great deal of wealth. Even modest gifts are appreciated.
Do I have to include my wish to leave a legacy to a specific organization in my will?
A charitable bequest will not take effect unless you state your intention in your will or living trust. Without a will, you may lose control over your assets after your death.
When should I start to think about leaving a legacy?
The answer is different for each individual. Some people make their wills when they have a first child, or when they receive an inheritance. But don’t put it off--the time is always right to think about how you wish to be remembered.
Why should I consider leaving a legacy?
Consider the institutions and causes you support now. Why have you made gifts of money and time? Picture your Jewish community decades from now. What would you hope to see? Through your legacy, you can ensure that the organizations you care about thrive in perpetuity and the issues you are most concerned with continue to be addressed.
Who will receive my legacy?
Do I tell the causes I am including that I've left a gift?
That is up to you. Charities often like to know in advance so that they can recognize your generosity. They can also tell you about specific opportunities for giving.
How can I invite my children into the process?
How can my legacy inspire the community?
How can I make sure that my legacy reflects what is important to me?
How can the Legacy Project work with my professional advisors?
When should I fund my legacy?
How should I fund my legacy?
With the help of the Legacy Project and your professional advisors, you will carefully choose the source of your dollars to help fund your legacy. Examples include retirement funds, highly-appreciated stock and real estate.
How should I structure my legacy?
What is the difference between a bequest and an endowment?
How can I get started?