Leaving a Legacy Gift in One’s Will Perpetuates Charitable Values

The following is a reprint of the JCF's Money Matters column, published in the August 6, 2025 issue of the Jewish Community Voice, titled, "Leaving a legacy gift in one’s will perpetuates charitable values":

August is “Make a Will Month.” This theme reminds us that we can each create or update our will to streamline our estate’s administration process and to leave our last message to our loved ones and the broader community about how we want to be remembered and what values we hope to pass along for future generations.

If you do not have a will in place, it’s always timely to establish one to ensure that your values and goals are met when you are no longer here, including your desire to give tzedakah. If you do have a will in place, the next time you update the document due to major life changes is an ideal time to add language about including a legacy gift.

Leaving a legacy gift in one’s will is by far the most common vehicle that donors use to benefit the Jewish community they love. In fact, since launching the Life & Legacy initiative of the Harold Grinspoon Foundation in Southern New Jersey in 2014, 57% of individuals who have committed to leaving a legacy gift to benefit the Jewish Federation of Southern New Jersey and its family of agencies and/or local synagogues or day schools have either left a gift in their will or have told us that they plan to do so. (The next highest percentage is for legacy gifts via life insurance at 17%.)

Here are five basic steps that you can take to creating your will and leaving a legacy for our community:

• Choose any cause(s) that reflects your passions.

If you annually support the Federation’s JFund Annual Campaign, for example, a gift in your will can ensure that your generous contributions continue by way of your own endowment fund that you can create with the JCF or via an existing one that you can grow.

• Decide how you want to include a gift in your will.

Contact me at (856) 673- 2571 or dsnyder@jfedsnj.org for wording to include in your will to leave a legacy gift. Here are three common options:

1. Leave a specific dollar amount. A simple rule of thumb is that a legacy gift of at least 20 times your annual gift will perpetuate your annual gift via your endowment fund with the Jewish Community Foundation, thanks to investments that grow the fund over time and provide a steady, annual 5% payout.

2. Donate a percentage of your estate: Perhaps you may have three children. Each child could receive 30% of your assets (totaling 90%) and the remaining 10% can be left as a legacy gift.

3. Gift assets like stocks, property, or investments such as certificates of deposit: The JCF accepts most non-cash assets, so you can designate a specific piece of your estate to your philanthropic wishes. (Note: Please consult with the JCF to ensure that we can accept your asset.)

• Talk with your lawyer or financial advisor.

Experts make sure your wishes are clearly documented. They’ll help avoid confusion for your loved ones. You can also discuss any tax benefits for charitable bequests.

• Tell your family your plans.

Let your loved ones know why giving matters to you. It prevents surprises later and can inspire them to do the same.

• Review and update your will as needed.

Life changes, and, in turn, so should your will. Even a small update can make a big difference.

Thank you to the hundreds of generous individuals who have decided to remember our Jewish community in their will. I hope this is the month when we can include you in this growing list as well.