Gifts that Cost You Nothing Now

Gifts That Cost You Nothing Now

Since 1984, the Tidewater Jewish Foundation has established strong connections and deep roots in the Jewish community. Together, we can see this work continue to support the Jewish values from generation to generation.

Giving a gift that costs you nothing now provides you with:

  • Continued use of your assets
  • Substantial provision for your family and loved ones
  • An opportunity to create your lasting legacy

Your signature can activate a gift that can be changed at any time, for any reason at all.

If you’ve already included a gift to benefit the Tidewater Jewish community in your will, trust, or by beneficiary designation, please let us know. The information you provide is in no way legally binding but it will help ensure that we can carry out your wishes as you intend.

A gift in your will or trust is easy to set up. It can be changed at any time and for any reason. And it creates your legacy with the Tidewater Jewish Foundation to strengthen Jewish communities locally and across the world.

Here are some popular ways to leave a gift:

  • A general gift leaves a gift of a stated sum of money in your will or living trust, typically in the form of personal property or assets.
  • A residual gift leaves remainder of your estate after other bequests, debts, and taxes have been fulfilled to the organization you support.
  • A specific gift leaves a specific dollar amount or stated fraction of your estate or specified items (collections, art, books, jewelry, and so on).
  • A contingent gift leaves a stated share of your estate only if a spouse, family member or other beneficiary does not survive you.

View Sample Language for a Will

We recommend consulting with your financial advisor and with the Tidewater Jewish Foundation to determine the best way to achieve your philanthropic goals. Please contact Scott Kaplan, President and CEO, at 757.965.6109 or skaplan@ujtf.org.

You can easily create a legacy gift through a beneficiary designation in your retirement plan, insurance plan, or other asset. When you designate a gift for the Tidewater Jewish Foundation, you’re helping men, women and children in our community.

Retirement funds gift: Many supporters like this kind of gift because it is easy to make. When you designate the Tidewater Jewish Foundation as a beneficiary of your retirement plan, you give the gift that reduces your taxes, costs you nothing now, and promotes Jewish values.

Benefits to you:

  • Reduce or eliminate taxes on retirement assets.
  • Remove highly taxable assets from your estate by direct beneficiary designation.
  • Reduce or avoid probate fees.
  • No costs when you give now.
  • Create your legacy of strengthening the Jewish community for years to come.

To name the Tidewater Jewish Foundation or a partner organization as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.

Savings bonds: If you have bonds that have stopped earning interest and that you plan to redeem, you will owe income tax on the appreciation. In the end, your heirs will receive only a fraction of the value of the bonds in which you invested. Since the Tidewater Jewish Foundation is a tax-exempt institution, naming us as a beneficiary means that 100 percent of your gift will go directly to helping meet the needs of community members who need it most.

CDs, bank accounts, brokerage accounts, and commercial annuities: This is one of the best and easiest ways to make a real and lasting impact on men, women and children in our community. Naming the Tidewater Jewish Foundation as the beneficiary of a certificate of deposit, a checking or savings bank account, or a brokerage account creates your legacy of rising to meet the challenges and needs of people in our community.

Donor Advised Fund (DAF) residuals: Final distribution of contributions remaining in a donor advised fund is governed by the contract you completed when you created your fund. Consider naming the Tidewater Jewish Foundation as a “successor” of your account or a portion of your account value. Your designation means that the Tidewater Jewish Foundation can make grants and distributions from the remainder of your fund to honor your desire to help your fellow community members.

We recommend consulting with your financial advisor and with the Tidewater Jewish Foundation to determine the best way to achieve your philanthropic goals. Should you have any questions or if you’d like to discuss making a lasting impact, please contact Scott Kaplan, President and CEO, at 757.965.6109 or skaplan@ujtf.org.