CHARITABLE BEQUESTS
Bequests are a popular estate-planning tool since they can reduce or even eliminate estate taxes. A specific dollar gift, a percentage of your estate, or specific asset(s) can be designated as a bequest to the Dallas Jewish Community Foundation in broad support of the Dallas Community; or in support of any public charities. Bequests, like other gifts, can be designated for many purposes or given without restriction.
A charitable bequest allows you to retain use and control of your assets during your lifetime. It may also be used to establish an endowment fund. As a financial benefit, a charitable bequest is deductible in determining the amount of an estate subject to death taxes.
Through a bequest, a donor can demonstrate an enduring commitment to the Dallas community and continue the pattern of philanthropy established during his or her lifetime. The donor will receive recognition, now and in the future, that will in turn encourage others to consider bequests as a planned giving option. A bequest can easily be made by naming the Dallas Jewish Community Foundation as beneficiary. An outright bequest may be unrestricted, may add to an existing fund of the Foundation or may establish a designated or restricted fund. If a donor already has a will in place, a simple codicil can be written. Click here for helpful tips in deciding whether or not it is time to update your will.
EXAMPLES
1. To the Dallas Jewish Community Foundation for its general purposes:
Will be contributed as a one-time gift to the Dallas Jewish Community Endowment Fund of the Foundation which funds emergencies, innovative programs and pilot projects.
I bequeath to DALLAS JEWISH COMMUNITY FOUNDATION, 7800 Northaven Road, Dallas, Texas 75230, the sum of _______________ dollars ($__________________) for its general purposes.
2. To establish an endowment fund:
I bequeath to DALLAS JEWISH COMMUNITY FOUNDATION, 7800 Northaven Road, Dallas, Texas 75230, the sum of _______________ dollars ($__________________) as an endowment gift, and solely the income therefrom shall be distributed on an annual basis in equal portions to the (for example:) Annual Campaign of the Jewish Federation of Greater Dallas, to the (for example:) Jewish Community Center of Dallas for its general purposes and to _______________________.
3. A bequest to an established fund at the Foundation:
I bequeath to DALLAS JEWISH COMMUNITY FOUNDATION, 7800 Northaven Road, Dallas, Texas 75230, the sum of _______________ dollars ($__________________) for the benefit of the _____________________ MEMORIAL ENDOWMENT FUND of the Dallas Jewish Community Foundation with distributions to be made each year in accordance with Paragraph ___ of the document establishing that fund.