Sample bequests

To the Houston Jewish Community Foundation for its general purposes:
Will be contributed as a one-time gift to the General Endowment Fund of the Foundation, which funds emergencies, innovative programs and pilot projects. I bequeath to Houston Jewish Community Foundation, 5603 S. Brasewood Blvd., Houston, TX 77096 the sum of ___________ dollars ($__________) for its general purposes.

To establish an endowment fund:
I bequeath to Houston Jewish Community Foundation, 5603 S. Brasewood Blvd., Houston, TX 77096 the sum of ___________ dollars ($__________) as an endowment gift, and solely the income therefrom shall be distributed on an annual basis in equal portions to the ________________ (example: Annual Campaign of the Jewish Federation of Greater Houston), to the _________________ (example: Jewish Community Center of Houston), and to _________.

A bequest to an established fund at the Foundation:
I bequeath to Houston Jewish Community Foundation, 5603 S. Brasewood Blvd., Houston, TX 77096 the sum of ___________ dollars ($__________) for the benefit of the _______________ MEMORIAL ENDOWMENT FUND of the Houston Jewish Community Foundation with distributions to be made each year in accordance with Paragraph ____ of the document establishing that fund.

If qualified retirement plan assets, IRA assets, or similar property will be in your estate, it is wise to include the following paragraph with the charitable bequest:

The Executor shall first use any property, which if received by my estate would constitute income in respect of a decedent for federal income tax purposes, in satisfying this bequest to the Houston Jewish Community Foundation

Sample donor advised fund

Helpful Questions to initiate Charitable Conversations with Your Clients

• What inspires you to give? What has been your most gratifying giving experience?
• Have you considered the benefits of a donor advised fund over a private foundation?

Establishing a donor advised fund or supporting organization can be an easy alternative to a private foundation. If you already have a foundation, you may wish to consider a simpler alternative without the recurring costs, restrictions and compliance requirements of a private foundation. You can terminate a private foundation easily and transfer the remaining assets to establish a donor advised fund. Then, you can take advantage of the Foundation’s philanthropic services and continue to pursue your charitable objectives with ease and efficiency through your named fund.

Has your private foundation distributed its mandatory 5%?

You can also establish a donor advised fund at the Foundation to be the recipient of the mandatory annual five percent distribution of the private foundation. The private foundation’s contribution to the donor advised fund is a “qualifying distribution” that counts toward the payout requirement. You can take your time and deliberate on the grants to be recommended from the fund and gain the added benefit of the Foundation’s philanthropic services.

Steps to Establish a Donor Advised Fund

• Start your fund by signing a simple agreement which can be completed in minutes.
• Transfer assets of $2,500 or more.
• You may receive an immediate charitable tax deduction for the full fair market value of assets you transfer. For appreciated assets, you may eliminate capital gains tax.

Once the Fund is Established

• Make additional contributions of any amount at any time.
• Recommend how the assets are invested so your fund grows tax free, giving you more to give to the community.
• Recommend grants to your favorite organizations in areas such as health and human services, the arts and education, in the Jewish and general community all over the world.
• Access your Fund online by using the secure Donor Central online Fund portal
• Let the Foundation take care of all administrative responsibilities and consult with the staff for personal advice about community needs, areas of interest, and a range of philanthropic services.

Helpful questions to initiate charitable conversations with your clients

• What principles have guided how you have lived your life? Raised your family? Run your business?
• Have you ever thought about what kind of personal legacy you would like to leave?
• Do you think your children would benefit from receiving part of their inheritance in the form of a donor advised fund, which (if there’s an estate tax) would be funded in part by estate tax savings?
• Do you currently volunteer at or financially support any charitable organizations, such as a house of worship, your alma mater, or a local arts organization, social service agency, or civic group? Are you interested in supporting such organizations after your lifetime?
• I know you are very supportive of (organization or program or synagogue, etc). Would you like to continue your support through your estate plan?
• Which volunteer experiences have been the most rewarding for you? Are there additional volunteer opportunities you plan to pursue in the next few years?
• What do you see as the major challenges facing our community now?

We frequently host seminars to educate professional advisors about charitable giving. Joining our Professional Advisors Council will provide you with unique philanthropic tools for your clients, as well as networking opportunities with leading attorneys, CPAs, and financial advisors. If you would like to receive invitations and information about our events for professional advisors, please join our mailing list.

PAC Seminars

Upcoming Events
9th Annual Professional Advisors Seminar
April 19th, 2012
7:30 a.m.
Westin Hotel

Christopher E. Erblich, who has clients in more than 20 states, will be presenting on how to develop creative planning solutions for complex situations.

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