“Be remembered forever with a gift in your will, trust, retirement account, or life insurance policy.”
*Video created by JFO
Common Types of Legacy Gifts
Honour Roll
FAQ
What is a legacy gift?
A legacy gift is an after-lifetime gift, included as part of a will or estate plan, or by beneficiary designation of a retirement plan or life insurance policy. This gift goes into a permanent endowment fund for the benefit of your designated organization(s).
What is an endowment?
Endowments are Permanently Restricted Funds which are invested in a large diversified pool, held for the benefit of your organization.
Your legacy gift can be housed at the Ottawa Jewish Community Foundation. Endowments are designed for the principal to grow. When the annual interest is more than the annual distribution, the difference is added to the principal, allowing for a larger distribution in subsequent years. You can contact Micah Garten to discuss setting up endowment options. Therefore, your legacy gift will benefit your designated organization(s) every year in perpetuity.
What about my children and grandchildren? I need to take care of them with my estate.
Each of us has responsibilities and want to take care of our families after we are gone. Making the commitment of a legacy gift does not take away from our ability to take care of our families. Many legacy donors leave a small portion, even 1%, 5%, or 10% of their estate or retirement plan, to their designated organization(s).
Leaving a legacy gift also empowers us to teach our children about future planning. Jewish tradition teaches that one of our key duties is to make the world a better place for future generations. Legacy gifts allow us to do just that.
I am not wealthy, so how can I be a legacy donor?
Legacy gifts are powerful because nearly everyone has the power to be a legacy donor. We may not have significant wealth during our lifetime, but after we are gone, we will leave behind assets such as a retirement plan, a house, a life insurance policy or a car. Designating a portion of these assets to the organizations that mattered most during your lifetime will help celebrate your legacy long after you are gone.
**FAQ from jewishottawa.com
For more information, contact Jayson Taller at jayson.taller@cmhottawa.com or call 613-521-9700.