The Charlotte Jewish News - December 2009 - Page 17
Eight Wonderful Ways to Brighten Your Chanukah
By Phil Warshauer, Executive
Director, Foundation for the
Charlotte Jewish Community
It’s December and we’re all
looking for that ultimate
Chanukah gift. You know, that
perfect gift that puts a smile on the
face of the recipient, is cherished
for many years and shines as
bright as the Chanukah lights
themselves. Put down those cata
logs and log off that web site
because you won’t find what I’m
talking about in any of those
places.
What if I told you that you
could make one of the most mean
ingful gifts you could imagine
without writing a check, pulling
out your credit card or transferring
stock?
Did you know that you can
make a charitable gift to one of
our local Jewish organizations
without any outlay of current
assets (cash or securities), and in
some cases also receive a current
charitable deduction? Well, read
on. As my Chanukah gift to you I
present you with eight ways to
make such a gift (nine if you con
sider that gold is at an all-time
high), one for each Chanukah
night.
1. Include your favorite Jewish
charity in your estate plan. This is
an easy way to leave personal
property, or a fixed amount or per
centage of your estate. You can
support your favorite program,
endow your annual giving or pro
vide funds that can be used at the
organization’s discretion. This can
be accomplished by adding a sim
ple codicil to your existing will.
2. Beneficiary of an existing
life insurance policy. Talk about
easy - just ask for a change in ben
eficiary form and add a Jewish
agency. You can designate a fixed
amount or a percentage with the
remainder left to the original ben
eficiaries.
3. Gift of an existing life insur
ance policy. Remember that life
insurance policy that was pur
chased by your grandparents for
you, or the one you bought after
purchasing your first home that no
longer require premium pay
ments? They make great charita
ble gifts, and if you make this life
time gift you may receive a chari
table tax deduction.
4. Beneficiary of an existing
IRA. An IRA is typically an
individual’s largest asset.
Distributions from your IRA are
taxable to your beneficiaries at
your death, with the exception of
beneficiaries that are charitable
organizations. Adding charity as a
beneficiary of your IRA is simple
and only requires a modification
to the beneficiary form.
5. Real Estate — Give away
ownership, but continue to live
there. Did you know you can
make a current gift of real estate
but retain the right to benefit from
its use? In addition, you may
receive a current tax deduction for
a portion of the gift. This also
works for vacation property. As
with all the others suggestions in
this article, consult with your
financial advisor for additional
details.
6. Beneficiary of an existing
fixed or variable commercial
annuity. Many people have pur
chased an annuity as part of their
investment portfolios to defer
income on a tax favored basis. At
your death, benefits are payable to
your beneficiaries. Why not add a
Jewish organization to that benefi
ciary form?
7. A current gift from your
IRA. This may be the last time you
can make this Chanukah gift
because the federal legislation that
provides for this opportunity is set
to expire this year If you are IQ-Vi
or older you can make a gift
directly from your IRA to your
favorite charity without the trans
ferred amount included in your
taxable income.
8. Beneficiary of corporate
retirement fund or 401(h). Much
like an IRA and commercial annu
ity, you can pass a portion of this
asset to charity and avoid income
taxes. Ask your employer for the
paperwork. It’s that easy.
Like the Chanukah candles,
there are many Jewish organiza
tions throughout our Charlotte
Jewish community that shine
bright and provide the wonderful
services and programs that foster
such a dynamic Jewish communi
ty. I hope each of you take the time
to consider one of these Chanukah
gifts. May the Chanukah menorah
remind us to rededicate ourselves
to preserving our community’s
future for generations to come.
For more information please
contact Phil Warshauer at the
Foundation for the Charlotte
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Jewish Community at 704-973-
4544 or pwarshauer@charlotte-
jewishfoundation.org. ^
The Foundation for the Charlotte Jewish
Community is proud to welcome Sol and Janet
Jaffa and Jack and Alison Levinson as its newest
members to the Book of Life Society. We want to
thank them for their dedication to preserving the
future of our Jewish community.
The Book of Life Society recognizes those
individuals and families who have made
commitments to the Jewish community by leaving
a legacy gift to benefit future generations. It is a
promise made by one generation to the next that
the values of our Jewish heritage will be
preserved, shared and cherished by our children,
and our children’s children.
Turn Your Unwanted Silver & Gold into a Heartfelt
Mitzvah to Benefit Charlotte Jewish Day School!
Wish you could donate more dollars to help support
the school but can’t? Here’s your chance!
Friday, December 11, 9AM - 11AM
CJDS Lobby
A rep from South Park Jewelers will be here to exchange
your unwanted gold and silver
20% of the proceeds will benefit CJDS.
~ First 50 customers will receive a FREE CHALLAH! ~
Charlotte Jewish
Preschool
LEARN • GROW • CONNECT
Half & Full Day Preschool Programs
Ages 1 to Pre-K
Flexible AM/PM care available
for Half Day Students
OPEN HOUSE
Friday, January 8
9:30-ll:30am
Open Enrollment for Fall 2010
^ begins at our Open House. ^
www.cjpkids.org • info@cjpkids.org
704-944-6777
CJP is a collaboration of Temple Beth El,
Temple Israel and the Levinejewish Community Center.