Legacy for Our Future - Frequently Asked Questions
Who can participate in Legacy for Our Future?
How can I create a Legacy for Congregation Beth Israel?
What are the tax advantages of leaving a bequest or making a lifetime gift to Congregation Beth Israel?
Is there a minimum gift?
What are some ways I can make a bequest to Congregation Beth Israel?
What are the ways to leave a Legacy?
What types of assets can I use to fund my Legacy?
May I remain anonymous?
Can I contribute to an endowment today?
What is the difference between a bequest and an endowment?
When should I start to think about Leaving a Legacy?
Who can I contact for more information?
Who can participate in Legacy for Our Future?
Every member or friend of Congregation Beth Israel can participate.
How can I create a Legacy for Congregation Beth Israel?
Through a gift in your will or trust, or by naming the Temple as the beneficiary of your retirement plan account, annuity contract, transfer on death account or life insurance policy, you can create a legacy.
What are the tax advantages of leaving a bequest or making a lifetime gift to Congregation Beth Israel?
Any bequest made to the Temple is 100% deductible from your taxable estate. Any lifetime gift to the Temple or to a charitable gift annuity, a charitable remainder trust or a charitable lead trust is income tax deductible but subject to the charitable income tax limitations.
Is there a minimum gift?
Your legacy gift of any size is appreciated.
What are some ways I can make a bequest to Congregation Beth Israel?
A bequest can be a specific dollar amount, a percentage of your estate, or the remainder of your estate (or a portion thereof) after you have provided for your family and other loved ones.
What are the ways to leave a Legacy?
Bequest in your will or trust
Outright Endowment Fund
Life Insurance
Charitable Gift Annuity
Charitable Remainder or Lead Trust
What types of assets can I use to fund my Legacy?
Cash
Securities
Real Estate
Life insurance
401(k) plan accounts
IRAs
Annuities
Personal property
May I remain anonymous?
Congregation Beth Israel respects your privacy and will allow you to choose how you will be recognized.
Can I contribute to an endowment today?
Yes. You can contribute cash or appreciated securities during your lifetime to fund an endowment that generates income that will support the Temple today. You can establish a named fund for the Temple or add to an existing one.
What is the difference between a bequest and an endowment?
A bequest is a legacy gift, distributed from an estate upon one's death. An endowment is a permanent fund that is held in perpetuity, distributing a specified percentage annually for the designated purpose. An endowment can be established by a bequest or during the donor's life.
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 during another lifecycle event. The time is always right to think about how you wish to be remembered.
Who can I contact for more information?
Please call 860-233-8215 x260.
