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Life and Legacy

Congregation Bet Haverim

Legacy Program FAQ

What is a legacy gift?
It is a gift of an asset after you pass away.

Who should sign up?
Everyone. This is not just for the wealthy or the seniors. There is no minimum gift required, and no expectation of payment while you are living.

Why wouldn’t I leave all of my estate to my children?

Every parent wants to make sure their kids are well taken care of.  Consider leaving just a portion of your estate to charitable causes.  A gift like this will leave your children with both financial support and demonstrate to your heirs your commitment to Jewish values.

How much should I bequeath?
There is no correct amount – it varies from person to person – and must be what is right for you. Any amount is appreciated. Some people will choose to give a set dollar amount while others will specify a percentage of their estate, or all or part of a particular asset.

I live paycheck to paycheck and I don’t have any money to give now. Can I still participate?
The advantage of legacy giving is that no money is paid now. The gift is paid after your passing, from what is left in your estate.

Can I change my gift later?
Yes - if your circumstances change you can adjust the amount of your gift.

What are the ways I can leave a legacy gift?
There are many ways, including making a bequest in a will or trust, naming CBH as a beneficiary of a life insurance policy, an IRA or pension fund, giving a gift of cash or assets, setting up a charitable gift annuity or charitable remainder trust. Please consult your professional advisor to determine which method of giving is best for you.

How can I give without spending money on a will or trust?
A good option for you would be to name CBH as a beneficiary of an account you already have. You might also consider a life insurance policy, with CBH as a beneficiary.

Where does the money go?
Unless otherwise specified by the donor, legacy gifts to CBH are divided as follows: 80% deposited into the CBH Endowment Fund at the Jewish Community Foundation of the West, and 20% made available to the CBH General Fund.  At the Board of Directors' discretion, more than 80% may be directed to the Endowment Fund.  Donors also have the option to request that 100% of their legacy gift be directed to the CBH Endowment Fund, or directed to any other specific purpose at CBH.

What is the Jewish Community Foundation of the West?
The Jewish Community Foundation of the West (JCFW) was created in 2000 to establish a highly visible, self-sustaining community organization that encourages long-term giving to benefit institutions and organizations that promote Jewish identity, Jewish ideals, and the quality of Jewish life. The Foundation provides the Jewish communities of Northern California and Western Nevada with philanthropic services and the opportunity to create long-term financial stability for their designated Jewish and non-Jewish charities. The Foundation works with individuals, families, and organizations to create endowment and donor advised philanthropic funds to best meet their charitable objectives. (www.jcfwest.org )

Who invests the money in the Endowment Fund?
The Jewish Community Foundation of the West (JCFW) manages our Endowment Fund, along with many others in the community. They have been doing so for many years and have an excellent performance record.

What rate of return does the JCFW average annually?
Average returns have been 4-5% annually.

What is the Harold Grinspoon Foundation’s LIFE & LEGACY program?
Established in 1993, the Harold Grinspoon Foundation is a philanthropic organization deeply committed to charitable giving, primarily in the Jewish world. LIFE & LEGACY is a 4-year partnership program of the Harold Grinspoon Foundation that assists communities across North America, through partnerships with Jewish Federations and Foundations, to promote after-lifetime giving to benefit Jewish day schools, synagogues, social service organizations and other Jewish entities. Through training, support, and monetary incentives, LIFE & LEGACY motivates Jewish organizations to secure legacy gifts, steward donors and integrate legacy giving into the philanthropic culture of the Jewish community. For more information, check out: www.hgf.org and jewishlifelegacy.org.

How do I sign up?
The first step is to fill out a Letter of Intent. You can download one by clicking here, or contact Michael Bobell at michael.bobell@gmail.com.  Once you have completed the Letter of Intent, please return it to the CBH office.

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