What Will Your Legacy Be?
Have you thought about how you'll be remembered?
Have you wondered, what will your legacy be?
If you want to pass along your most deeply held values and support a cause that's been important in your life - consider including Chabad of Binghamton in your will. It's remarkably easy to do.
When including Chabad of Binghamton in your will, you'll be supporting what you love - Jewish young men and women celebrating Shabbat, marrying Jewish, raising Jewish children, and bringing the wisdom of Torah to their friends, communities and the world - for generations to come.
All because you cared about them and their future.
Your legacy will be empowered Jewish leaders. Happy, healthy Jewish families. And a bright Jewish future for us all.
You can make that happen with a gift in your will to Chabad of Binghamton.
It's Easier Than You think
A bequest is one of the easiest and most impactful ways to leave a legacy. Even if you're someone of modest means, your gift can go a long way.
Click here for Sample Bequest Wording.
Here's how it works:
- A bequest does not cost you anything during your lifetime
- With a Residuary Bequest, you designate a percentage of your estate to Chabad of Binghamton
- With an Outright Bequest, you leave a specific dollar amount or a specific asset, like securities or real estate, to Chabad of Binghamton
- After your passing, your trustee will transfer the bequest money or real estate to Chabad of Binghamton
- Bequests are revocable and can be changed or modified during your lifetime
- Bequests relieve the tax burden on your family
- This is the most effective way to leave a Jewish Legacy
We're Here to Help
We'd be honored to work with you, your family and/or your financial adviser/attorney, to develop a personalized strategy for your charity-giving. Please email or call us at 607.725.5608 so we can set up a time to talk.
If you have been so generous as to include a bequest to Chabad of Binghamton as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity. Dedication and naming opportunities within the physical Chabad Center and for programs and events are available, just ask us how.
More About Your Bequest
The method used to make a bequest will depend on the kind of gift you choose to leave to Chabad of Binghamton.
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete your bequest. (Click here for Sample Bequest Wording)
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing a beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the right "beneficiary designation" or "payable upon death" form. To complete your bequest, you will need to complete and sign the form and return it to them.
The last step in leaving any bequest involves the transfer to charity. Upon your passing, full value of the gift will be transferred to Chabad of Binghamton tax-free and your estate will receive an estate tax charitable deduction.
Sample Bequest Wording
I bequeath to Chabad of Binghamton, having its principal offices at 420 Murray Hill Rd., Vestal, NY 13850,
the residue of my estate after all other obligations have been fulfilled,
OR
the sum of ______ dollars,
OR
a percentage of ______ of my residuary estate,
to be used by Chabad of Binghamton for its charitable purposes of providing Jewish resources to Binghamton University students and the greater Binghamton Jewish community.
Chabad of Binghamton, Tax Id. No. 16-1254782, is a 501(c)(3).
When planning or writing a will, please contact an estate attorney who has experience in estate planning and make sure to discuss your wishes with your family and financial advisor.