A thoughtful planned gift to JBFCS can help you and your loved ones and at the same time enable JBFCS to reach more vulnerable New Yorkers. That's because a planned gift can elevate charitable donations to a level that you might not have thought possible, while maximizing tax benefits for you and your family.
A properly drafted will or other planned giving device can:
- Minimize estate settlement costs and taxes
- Ensure that your assets are managed the way you choose
- Provide for your spouse, children, and grandchildren
Furthermore, you may be surprised to learn that your will can also be a flexible way to help keep the critical work of JBFCS moving forward after your family’s needs have been met.
As a beneficiary agency of UJA-Federation of New York, we benefit in numerous ways by being under their ‘umbrella’. Thanks to a recent agreement, JBFCS supporters will be able to work with UJA-Fed in planning to include JBFCS in their estate planning. Please consider the planned giving options we’ve described below. For more details and further assistance, contact 212-632-4771.
Life income plans are a sophisticated and flexible way to make a gift to JBFCS over a period of years while providing income for you or your beneficiary. Naming JBFCS as the recipient of such a gift can help you qualify for an immediate charitable tax deduction, reduce your estate tax, avoid or reduce capital gains tax, and give you the satisfaction of contributing to a cause you find worthwhile. Some of the most popular life income plans are:
- Charitable Lead Trusts
- Charitable Remainder Trust
- Charitable Remainder Unitrust
- Charitable Remainder Annuity Trust
Some assets are not transferred through a will. These include assets in a qualified retirement plan (qualified plans include an IRA, Keogh, 401(K), 403(B), or defined benefit plan) that remain after your lifetime. Often, a retirement plan is a pre-tax asset and, when transferred to a beneficiary, is subject to estate tax as well as income tax. Naming JBFCS as the beneficiary of your qualified retirement plan may be advantageous and financially judicious. Most often, all that is required is to name the JBFCS on the beneficiary line when you sign up for your retirement plan, or to modify your current election by notifying your plan administrator.