Planned Giving

You can perpetuate your commitment to Jewish life. Planned Giving provides many creative opportunities to maximize your giving with many benefits to you. Charitable estate and financial planning may be in the form of cash, real estate, securities or other marketable property.

Please find more detailed information on bequests, lifetime gifts, life insurance, charitable trusts, retirement plans and gifts of stocks and securities below.

Refer to our donation page to make an online gift.

For personal assistance contact Rabbi Krivisky, rabbi@miyad.org or call 516.336.9077.

Fed Tax ID # available upon request.

Bequests

Bequests are a major source of funds for MiYaD.  Your testamentary charitable bequest ensures that your support of MiYaD will continue in perpetuity. It is possible to designate a special purpose or program for your bequest, keep in mind, the specific needs of MiYaD may change depending on the future state of world events. Therefore, it is preferable to authorize MiYaD to use the bequest for its general charitable purposes in the event the designated use is determined to be inapplicable.

There are many types of Bequests:

Outright Bequest - MiYaD is given a specific dollar amount or a specific asset, such as securities or marketable real estate.

Residuary Bequest - MiYaD is given all or a percentage of the remainder of the estate after payment of all expenses of the estate and any other specific amounts bequeathed to other beneficiaries of the will.

Testamentary Trust - You may provide for income to be paid from the trust to a designated beneficiary, and after that individual’s lifetime all or part of the principal passes to MiYaD.

Contingent Bequest - You may have family and friends for whom you feel a responsibility and choose to provide for them first in your will. MiYaD is given a bequest only if the designated beneficiarie(s) predecease you.

The provisions in your will or revocable living trust for leaving a charitable bequest to MiYaD will depend upon the type of gift and your unique circumstances. We hope these sample bequest clauses will be helpful to your attorney.

Unrestricted General Legacy (Outright Bequest) I bequeath to MiYaD a not for profit  corporation, having its principal offices at 235 Robbins Lane, Unit N. Syosset, NY 11791, the sum of ($________) DOLLARS for its general charitable purposes.

Bequest for Specific Purpose I bequeath to MiYaD a not for profit  corporation, having its principal offices at 235 Robbins Lane, Unit N. Syosset, NY 11791,  the sum of ($________) DOLLARS [OR] a percentage (%________) of my residuary estate to be used for MiYaD [insert specific purpose designation]*. If in the opinion of the Board of Directors, the purposes of MiYaD would be better served by using the income or principal, or both, for MiYaD general purposes, the income or principal, or both may be so used.

Bequest for Specific Purpose by Endowment I bequeath to MiYaD a not for profit  corporation, having its principal offices at 235 Robbins Lane, Unit N. Syosset, NY 11791, the sum of ($________)DOLLARS [OR] a percentage(%________) of my residuary estate to establish an endowment fund bearing the name of________________ . The net income therefrom shall be used for the benefit of MiYaD [insert specific purpose designation]*. If, in the opinion of the Board of Directors, the purposes of MiYaD designated program would be better served by using the income and principal of the fund, they may have the discretion to do so.

Lifetime Gifts

There are tax benefits in giving gifts of appreciated property or marketable securities. You can eliminate the tax on the gains you would otherwise be subject to, you can reduce your income tax and, you can make a larger gift to MiYaD at less cost to you.

Life Insurance

A charitable gift of life insurance is an innovative way to provide a highly leveraged endowment to MiYaD. There are several ways to gift life insurance. You may contribute a new or existing policy by transferring the policy to MiYaD and naming MiYaD as owner and beneficiary. There are substantial benefits to both you and MiYaD. The premium payments will provide you with an income tax deduction. The endowed gift to MiYaD will be substantially larger than the amount used to fund the insurance policy. The insurance policy proceeds pass directly to MiYaD outside your estate and are not subject to probate or estate taxation. Therefore, your estate will be undiminished by the gift. You may wish to add MiYaD to an existing policy as a remainder beneficiary or you can utilize the values in an existing policy to fund a more highly leveraged one. Since life insurance premiums are based or mortality rates, gifts of life insurance are extremely affordable for younger donors, affording them the opportunity to make sizable gifts.

There are various creative ways that life insurance combined with charitable trusts can be utilized as asset replacement plans. A wealth replacement trust transfers property free of federal estate and state inheritance taxes and often provides an even greater inheritance for your heirs. A wealth replacement trust is a sophisticated charitable estate planning tool utilizing a charitable remainder trust coupled with life insurance. It replenishes estate values for your children or other intended beneficiaries through the purchase of life insurance. You can provide a lasting legacy to MiYaD and to your heirs.

Charitable Trusts 

A charitable lead trust can be an effective estate planning tool to transfer the assets to your heirs with significant tax advantages while making a meaningful gift to MiYaD. You can establish a lead trust that will make income payments to MiYaD for a pre-determined term of years. After the trust term, the assets are distributed to you or your heirs. There are two types of lead trusts: the grantor lead trust and the non-grantor lead trust.

Grantor Lead Trusts
As a grantor lead trust donor, you contribute assets to a trust, which makes payments to MiYaD for the duration of the trust. When the trust terminates, the assets revert to you and/or your spouse. When you establish a grantor lead trust, you are entitled to an immediate income tax charitable deduction equal to the present value of the income stream, MiYaD will receive during the life of the trust.

Non-Grantor Lead Trusts
As a non-grantor lead trust donor, you contribute assets to a trust, which makes payments to MiYaD for the trust term. When a non-grantor trust terminates, the assets are transferred to someone other than you and/or spouse, usually your children or grandchildren. When you create a non-grantor lead trust, you do not qualify for an income tax charitable deduction, however, you will enjoy a substantial reduction in estate and gift taxes on the future transfer of assets to your heirs.

Donate Your Car, Boat or RV
All donations are tax deductible.

For personal assistance contact Rabbi Krivisky, rabbi@miyad.org or call 516.336.9077.