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Bequests, Retirement Plan Assets & Life Insurance

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Funding An Endowment With Future Assets

Your legacy gift of any size can be designed to match your personal circumstances. Bequests, retirement plan assets and life insurance gifts are an ideal way to make a lasting gift to benefit the general Jewish community or your favorite agency cause without impacting your current financial situation.

Working with the Jacobson Jewish Community Foundation (JJCF), you can create a legacy plan that reflects your values and addresses your philanthropic and financial goals.

BEQUEST. A charitable bequest allows individuals to retain use of and control over their assets during their lifetime, and remains fully revocable. Perhaps the most popular way to create an endowment is to mention the Jewish community in your will. Speak with your attorney to add a codicil to your will.

Sample Bequest Language: Upon the death of [name], [amount] (dollars/remaining assets of the trust/whatever descriptor you wish to use) shall be distributed to the Jacobson Jewish Community Foundation of the Jewish Federation of South Palm Beach County, Inc. (JFSPBC), a Florida non-profit corporation whose principal office is currently located at 9901 Donna Klein Blvd., Boca Raton, Fl 33428 (EIN 59-1945109) in order to establish a permanent endowment fund for [purpose].

IRA BENEFICIARY DESIGNATION. Retirement plan assets are ideal to give to charities when you are gone because they are so heavily taxed if left to heirs. Income and estate taxes can easily consume over 65% of the account balance at death. Naming the Foundation as a remainder beneficiary of these assets is a tax effective way to create an endowment. Simply call the IRA Custodian to get the form needed to change the designation.

IRA BENEFICIARY DESIGNATION. Often, insurance policies are purchased early in adulthood to provide protection for family where there are not yet substantial accumulated assets to fill that role. As the family grows, and assets grow, the policy may no longer be essential. Your insurance agent can give you a beneficiary designation form so you can designate the community as a beneficiary of your policy. In some cases, you may be eligible for a current tax deduction.


Cathrine Fischer Schwartz, CFRE, Chief Legacy Officer
561.852.3120 | CathrineS@bocafed.org