For many individuals, a gift by will or through their revocable living trust is an effective way to accomplish estate and tax planning through gifts to charities. A bequest may take several forms. Among these are:

• A specific amount expressed in dollars or in specified items of property.
• A percentage of the residuary of the estate (the amount available for distribution after specific bequests are paid).

A bequest may be left without restriction for the charity to use in its discretion for its general mission and needs that must be met at the time it receives the payment from the donor’s estate. Bequests without restriction are particularly important for HIAS, as they help us respond quickly and effectively to crises in Jewish and other worldwide communities.

Bequests also may be designated for a particular purpose or program. A bequest also may be endowed so that only income and/or portions of principal may be used by the charity to carry out the purposes set out in the will. In the case of an endowed bequest, any designations ought to be broad enough to enable the charity to use the funds for programs or purposes then in need of support, particularly since the endowed fund may be set up in the will to run in perpetuity. Again, broad designations of such funds enable HIAS to respond capably to future emergencies.

When bequests are made, their provisions may provide that the funds be named in honor or in memory of particular individuals, foundations, or families.
 

The following are sample bequest provisions to be reviewed with an individual’s professional advisors:

For a specific bequest
I give and bequeath to Hebrew Immigrant Aid Society (HIAS, Inc.), a tax-exempt, not-for-profit organization whose principal offices are located at 333 Seventh Avenue, New York, NY 10001, the sum of $____ to be used for its general charitable purposes.

For a residuary bequest
I give and bequeath __% of my residuary estate to Hebrew Immigrant Aid Society (HIAS, Inc.), a tax-exempt, not-for-profit organization whose principal offices are located at 333 Seventh Avenue, New York, NY 10001, to be used for its general charitable purposes.

For a designated or endowed bequest
I give and bequeath to Hebrew Immigrant Aid Society (HIAS, Inc.), a tax-exempt, not-for-profit organization whose principal offices are located at 333 Seventh Avenue, New York, NY 10001, [the sum of $_____)/ (___% of my residuary estate) to be used by it for [state designation or purpose). In the event the purpose for which this bequest has been designated or restricted can no longer be accomplished, I direct that it be used by HIAS, Inc. for such similar charitable purposes as it shall determine.

For a named fund
I give and bequeath to Hebrew Immigrant Aid Society (HIAS, Inc.), a tax-exempt, not-for-profit organization whose principal offices are located at 333 Seventh Avenue, New York, NY 10001, (the sum of $___)/(___% of my residuary estate) to establish the {NAME} Fund (in honor of _____)/ (in memory of ______), an endowment fund without restriction to be used by it for its general charitable purposes.

To discuss any of the above planned giving options, or for any other information, please contact:

Lisa Polakov
Associate Director, Individual Giving
212-613-1438
866-337-3337 (Toll Free)