Nov 8, 2013

As Thoughts Turn to Taxes: Many Wise Ways to Leave Your Legacy

As 2013 draws to an end and our thoughts turn to taxes, it may be time to consider these vehicles that can build our community and your legacy:

IRA Rollovers to Charitable Organizations: Taxpayers age 70 1/2 or older can continue to donate up to $100,000 from Roth or traditional IRAs to certain charitable organizations without including the amount of their IRA withdrawals in gross income. This provision allows for distributions directly to charitable organizations, like the Jewish Federation of South Palm Beach County, but NOT to “Donor Advised Funds.”
• With interest rates still at historic lows, there continues to be an opportunity to establish a Charitable Lead Trust (ACLT). This vehicle provides funds to the charity today and transfers the principal to the next generation at a later date.
Donor Advised Funds (DAF) may be an effective method of establishing your “Philanthropic Bank” through the contribution of highly appreciated assets… while the stock market remains at a high level. You can then later use the DAF to provide grants to other charities.
• A donor-designated Endowment Fund may be an excellent vehicle to provide for those programs and agencies that you are especially involved with during your lifetime. You will have the security of knowing that the Jacobson Jewish Community Foundation will continue to honor your intent into the future.
• The donation of your Insurance Policy to the JFSPBC is always a low cost method to support the values that you hold dear. Please contact your personal legal, estate planning, financial or tax professionals for advice about how these provisions may affect your individual situation.

The Jacobson Jewish Community Foundation is committed to finding the right vehicle for each individual or family interested in leaving a legacy – with a strong team of dedicated volunteer Professional Advisory Committee (PAC) members and experienced staff to help in the process.

For further information about the Jacobson Jewish Community Foundation and its resources, including the Professional Advisory Committee, contact Steve Rose, Vice President, JJCF, at 561.852.3114 or stever@bocafed.org. All conversations will be confidential.



Ellen R. Sarnoff, Chair
Jewish Federation of South Palm Beach County

Matthew C. Levin, President & CEO
Jewish Federation of South Palm Beach County

David Pratt, Esq., Chair
Jacobson Jewish Community Foundation

Marla Weiss Egers, EVP
Jewish Federation of South Palm Beach County

Stephen E. Rose, Director
Jacobson Jewish Community Foundation