Skip to Main Content

Whether your estate is large, modest or somewhere in-between, you can help ensure that JFSA Cleveland will not only meet today’s needs, but will also be here tomorrow to assist our children and our children’s children.

A planned gift strengthens the community that JFSA serves and, in many instances, also provides you with tax advantages. It ensures that you will be remembered both by those who directly benefit from your generosity to JFSA as well as those who will be inspired by your example. Here are a few examples:

Testamentary Gift

A bequest to JFSA from your will affords you flexibility and control over the legacy you leave behind and means a portion of your assets will go directly to a cause you care about rather than to the government in the form of taxes. If you already have a will, you may be able to make your gift by preparing, with the involvement of your estate planning attorney, a codicil (a brief written amendment) to your will.

IRA or 401K Gift

This method typically offers the greatest income tax savings (and perhaps estate tax savings) when you direct that a gift to JFSA be made from your estate. As an alternative, people age 70-1/2 or older wishing to make lifetime donations can transfer funds from an IRA directly to JFSA tax fee so long as certain conditions are met. Either option is easy to arrange.

Life Insurance

This type of gift is particularly popular with donors who have policies that are no longer needed to provide for their families. The gift is made to JFSA by transferring ownership of a life insurance policy to JFSA or simply changing the policy’s beneficiary designation to JFSA for some or all of the policy’s proceeds. It is also an attractive way to give if you want to provide significant support for JFSA but are unable to make a large outright donation.

A Life Income Plan

A charitable gift annuity or a charitable remainder trust allows you to make a substantial future gift to JFSA while still providing for your own personal financial needs. These plans provide you, the donor, or your named beneficiaries that you designate income for life with an ultimate gift to JFSA. There are several types of life-income plans and they offer substantial tax benefits, depending on the asset contributed.