Create an endowment at JCT and receive income for the rest of your life. Life-income gifts are deferred contributions to JCT that produce current payments and immediate tax benefits to the donor. The gift is an important contribution to the school, even though the donor, or someone designated by the donor, receives lifetime payments and obtains other significant benefits.
Wills and Bequests
By making a bequest to JCT in your will or living trust, you can:
- Leave a legacy for future generations of JCT students
- Retain full use and control of your assets during your lifetime
- Reduce your taxable estate
Regardless of your charitable intentions, you should have a will or living trust in place to protect your family and ensure that you, rather than the state, determine the legacy you leave. Attorney fees for drafting a simple will or living trust typically are surprisingly modest. If you have an existing will or living trust, your attorney can easily add a provision for a bequest to JCT. Bequests should refer to "The Jerusalem College of Technology, Jeursalem, Israel" If you wish, you can designate a specific program or fund to benefit from your bequest. Even seemingly small bequests to JCT can make a meaningful difference in the lives of future students.
Bequests can take the following forms:
· A percentage bequest provides that JCTwill receive a specified percentage of your estate. You can choose any percentage you wish. A percentage bequest assures that inflation does not reduce the true value of the gift you intend for JCT.
· A general bequest provides that JCT will receive a designated amount of money from your estate.
· A specific bequest provides that JCT will receive a specific asset, such as real estate or stock of a corporation.
· A residuary bequest provides that JCT will receive the balance of your estate (or a designated percentage of the balance) after all estate administrative costs, percentage bequests, general bequests, and specific bequests have been satisfied.
· A contingent bequest allows you to build a contingency into your bequest, for example, a stipulation that JCT will receive a portion of your estate only if your spouse is not living at the time of your death.
The Office of Development would be pleased to discuss with you or your attorney ways to include JCT in your estate plans. Please contact Reuven Surkis, Vice President for Development at +972-2-6751269.
If you have already included JCT in your estate plans, please let us know so that we can help ensure that your wishes are fulfilled.
(The discussion above is general in nature and may not apply to all individuals. Estate planning and drafting wills and living trust documents require the assistance of an estate planning attorney.)