top of page
  • Writer's pictureJCF

Create a Legacy with Beneficiary Designations

If you have a life insurance policy or retirement account, you decide who to designate as beneficiaries.

In many cases it may be your spouse, children, or grandchildren-- all great options!

That said, as a philanthropic community member, you may want your charitable giving to continue for many years, thus allowing you to leave a wonderful legacy of helping others.

By designating a percentage of your life insurance policy or retirement account to the JCF, you’ll be able to support the future of the Jewish Federation of Southern New Jersey and its family of agencies, or any synagogue, day school, or other selected nonprofit. The percentage (or fixed dollar amount) can total whatever fits for your financial and estate plans, and you can still of course include any other beneficiaries you choose.

Ultimately, your legacy gift will establish a named endowment fund that will spin off annual income for many generations.

And guess what?

Updating your beneficiary designations is easy to do and costs nothing during your lifetime.

Here's how to get started:

  1. Access Your Beneficiary Form: Contact your life insurance provider or retirement account administrator to determine how to update your beneficiaries. You may be able to simply log into your account online and make the change there, or you may have the option to print and submit completed forms.

  2. Amend Your Beneficiary Form: At this step, you will determine the amounts you wish to leave to your beneficiaries and update your form accordingly, and then submit it as required. By including the Jewish Community Foundation, Inc., in any amount, as a beneficiary, you will be leaving a generous legacy.

    1. Math Tip: If you wish to continue your annual gift at the current amount, it is suggested that you leave 20x the amount of your gift. For example, if you give $1,000 to a nonprofit every year, a $20,000 endowment fund administered by the JCF will annually spin off 5% ($1,000) to that organization, and thus continue your generosity.

    2. JCF Info: On your beneficiary form, you will likely be asked to include the following details:

      1. Address of the JCF: 1301 Springdale Rd., Suite 200, Cherry Hill, NJ 08003

      2. JCF's tax ID number: #20-1260545

  3. Inform the JCF of Your Beneficiary Update: By letting the JCF know about your decision to leave a gift via a beneficiary designation, we can work with you to ensure that your charitable dollars go where you want them to, by establishing an agreement that will go into effect once we receive any dollars into your endowment fund. We also welcome the chance to work with the organization that your future endowment fund will benefit (other than the JCF), as well as your trusted advisor.

By following these three steps, you will find that leaving a legacy is a snap, as doing so should take very little time to enact and cost you nothing during your lifetime. (Please consult with your trusted advisor as the JCF does not provide accounting, financial, or legal advice.)

For more information, please contact the JCF at 856-673-2560 today.

Photo by Monstera from Pexels


bottom of page