Estate Planning and Planned Giving

The JTS Office of Estate Planning exists to encourage you to plan your charitable gifts to your maximum advantage. Because tax laws favor charitable giving by providing substantial tax deductions, the ways you decide to give will affect the benefits for you and your family, now and in the future.

There are many ways to give to JTS. You may give a percentage of your estate or specific property, securities, or real estate.

To request a planned giving proposal, or for more information on any of the opportunities here, phone (212) 678-8805 or email Rabbi Abigail Treu.

Bequests

Forms of Bequest

A pecuniary or specific bequest designates a specific dollar amount, a particular asset, or a fixed percentage of your estate: "I give (X dollars) (a specific asset) to The Jewish Theological Seminary, New York, New York."

All or a portion of your residuary estate may be left to JTS after you have provided for all other beneficiaries by specific bequests: "I give (X percent of the rest, residue, and remainder of my estate) to The Jewish Theological Seminary, New York, New York."

The Jewish Theological Seminary can be a contingent beneficiary of your estate if you stipulate that JTS will receive all or a portion of your estate if your named beneficiaries do not survive you: "In the event (family member) does not survive me, I give (X dollars), (a specific asset), or (X percent of the rest, residue, and remainder of my estate) to The Jewish Theological Seminary, New York, New York."

Life Insurance

Gifts of life insurance provide a way for individuals to contribute to JTS with new or reallocated policies. Individuals may redefine the beneficiary of a plan that is no longer needed to provide income, to cover a mortgage already paid in full, or to provide for an education already covered. Through gifting a life insurance policy with JTS as the beneficiary, you may take a tax credit for the cost of the premium.

Charitable Remainder Trusts

A charitable remainder trust allows you to retain income or provide an income for someone else, provide individualized management of your gift, and may increase your capacity to make a gift to JTS.

A charitable remainder trust is a separately invested irrevocable trust you create by designating a person or persons to receive income payments annually and transferring cash, marketable securities, or closely held stock to a trustee you select. At the conclusion of the income payments, the trustee pays the trust principal to JTS.

A charitable remainder trust involves administrative and some start-up costs. Therefore, you probably should not consider such a gift arrangement for amounts less than $100,000.

Charitable Gift Annuities

A charitable gift annuity is an arrangement whereby you contribute cash or marketable securities in exchange for JTS's promise to pay you and, if you wish, another recipient a guaranteed income for life at a rate based on the age(s) of the annuitant(s). Gift annuities enable you to make a gift now and receive lifetime income, some of it tax-free, from your assets. Cash or securities can be used to fund a gift annuity.

JTS asks that you give a minimum of $10,000 in order to establish a charitable gift annuity.

Charitable Lead Trusts

If you would like the capital value of marketable or income-producing assets to remain for your heirs but can afford to give the assets' income stream to JTS for a defined period of time, then a charitable lead trust may be right for you.

A charitable lead trust may be desirable if you wish to leverage the use of your unified transfer tax credit for making gifts to your children or if the value of your charitable gifts already exceeds the allowable deduction limits for income tax purposes. Because a charitable lead trust involves costs and some legal or financial advice, you probably should not consider such a gift arrangement for amounts less than $500,000.

Tax-free IRA Gifts

Normally, when you take money from an IRA it is taxed as income. However, Congress recently approved an extension of the Charitable Rollover plan, in effect through 2009:

  • You must be 70½ years old or older.
  • Your gift must transfer directly from your IRA to The Jewish Theological Seminary.
  • The gift cannot exceed $100,000 in 2008 or 2009 ($200,000 per couple).
  • The gift must be an outright gift (and is not eligible for an additional charitable tax deduction).

For JTS donors still looking to take their required minimum distributions, this is a great way to make the most of your giving. The decreased income resulting in your rollover gift will provide you with tax savings and, of course, the tzedakah you provide to JTS is of tremendous benefit to our students and the Conservative Movement nationwide.

The Tzaddikim Society

Being a Tzaddik (Righteous Person) in your own time calls for recognition. That's why we have created the Tzaddikim Society. Membership in the society is open to concerned individuals like you who care deeply about Judaism and who wish to support JTS through bequests in their wills and other planned gifts.

Please consider a bequest or other planned gift to JTS. As a member of the Tzaddikim Society, you will have the satisfaction of knowing that you are helping to secure the future of Conservative Judaism. Your name will be recognized in the Tzaddikim Society category of our annual report.