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Beth Tikvah Legacy Program FAQ

What is a legacy gift?
It is a gift of an asset after you pass away.

Who should sign up?
Everyone. This is not just for the wealthy or the seniors. There is no minimum gift required, and no expectation of payment while you are living.

Why wouldn’t I leave all of my estate to my children?
Legacy gifts are usually only a percentage of your estate and demonstrate to your heirs your commitment to Jewish values.

Does the gift have to be money or can other things be given?
Legacy gifts can take many forms: stocks, bonds, real estate, retirement assets, cash, life insurance proceeds, etc.

How much should I bequeath?
There is no correct amount – it varies from person to person – and must be what is right for you. Any amount is appreciated. Some people will choose to give a set dollar amount, some will specify a percentage of their estate, or all or part of a particular asset.

Can I change my gift later?
Yes - if your circumstances change you can adjust the amount of your gift.

What are the ways I can leave a legacy gift?
There are many ways, including making a bequest in a will or trust, naming Beth Tikvah as a beneficiary of a life insurance policy or an IRA or pension fund, giving a gift of cash or assets, setting up a charitable gift annuity or charitable remainder trust. Please consult your professional advisor to determine which method of giving is best for you.

I live paycheck to paycheck and I don’t have any money to give now. Can I still participate?
The advantage of legacy giving is that no money is paid now. The gift is paid after your passing, from what is left in your estate.

How can I give without spending money on a will or trust?
A good option for you would be to name Beth Tikvah as a beneficiary of an account you already have. You might also consider a life insurance policy, with Beth Tikvah as a beneficiary.

Where does the money go?
Legacy gifts to Beth Tikvah will be deposited into the Beth Tikvah Endowment Fund at the JFCM.  If someone leaves money for a specific purpose, those wishes will be honored.

What is the JFCM?
The Jewish Federation of Central Massachusetts is dedicated to the preservation and enrichment of Jewish life.  Established in 1948, Federation is the central planning and fundraising organization for educational, social, and cultural activities for the Jewish community of Central Massachusetts. Federation embraces meaningful philanthropy, hands-on volunteerism, and shared commitment. Through the Annual Community Campaign and the efforts of hundreds of volunteers, Federation helps support and promote vital programs and services that knit our community together.  Working in partnership with national Jewish Federations of North America, Federation also helps thousands of people annually in Israel and around the world. Federation resources help rescue the imperiled, comfort the distressed, and revitalize Jewish life. 

What is the Harold Grinspoon Foundation’s LIFE & LEGACY program?
Established in 1993, the Harold Grinspoon Foundation is a philanthropic organization deeply committed to charitable giving, primarily in the Jewish world. LIFE & LEGACY is a 4-year partnership program of the Harold Grinspoon Foundation that assists communities across North America, through partnerships with Jewish Federations and Foundations, to promote after-lifetime giving to benefit Jewish day schools, synagogues, social service organizations and other Jewish entities. Through training, support, and monetary incentives, LIFE & LEGACY motivates Jewish organizations to secure legacy gifts, steward donors and integrate legacy giving into the philanthropic culture of the Jewish community. For more information, check out: www.hgf.org and jewishlifelegacy.org.

Who invests the money in the Endowment Fund?
The Jewish Federation of Central Massachusetts (JFCM) manages our Endowment Fund, along with many others in the community. They have been doing so for many years and have an excellent performance record.

How do I sign up?
The first step is to fill out a Letter of Intent. Download one from this website, or contact a team member.

We each have the opportunity and the responsibility to secure the future of Jewish life in our community.

What will your legacy be?

Fri, December 15 2017 27 Kislev 5778