1. Choose what to give. Pick from one of these four options.
- A specific bequest gives us a particular piece of property. If you disposed of the property before your death, we won't receive your intended gift because we cannot claim any other property.
- A general bequest gives us a stated sum of money. If there is insufficient cash in your estate to cover the bequest, other assets will be sold for cash to honor your wishes for us.
- A residuary bequest gives the "rest, residue and remainder" of your estate, or, more commonly, a percentage of the residue after all other bequests, debts and taxes have been paid.
- A contingent bequest requires a certain event to occur before the gift can happen. For example, you could bequeath funds to a family member provided that person survives you; if not, the funds would then go to the Jewish Community Foundation of Los Angeles.
2. Decide how you would like the Jewish Community Foundation of Los Angeles to use your gift. Choose from one of these three options.
- An unrestricted bequest allows us to use the assets in the most beneficial way.
- A restricted bequest allows you to specify how we are to use the funds. Contact us in advance to be certain your intent can be fulfilled.
- An endowed bequest allows you to restrict the principal of your gift so we can use only a small portion each year, typically allowing the fund to last forever.
3. Meet with your estate planning attorney. Whether you need to create a will or simply update an old document, you'll want to seek the help of an estate planning attorney.
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Download a free guide about how to prepare for this meeting with your attorney. |
Click here to view the official bequest language for the Jewish Community Foundation of Los Angeles.
4. Let us know of your plans. Please contact Development Office at 323-761-8704 or development@jewishfoundationla.org to let us know when you have made plans for such a gift. We would love the opportunity to thank you for your generous act. We are happy to honor your wishes regarding anonymity.