The Charlotte Jewish news. (Charlotte, N.C.) 19??-current, December 01, 2009, Image 17
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 l/J ~W FoLindacion L \w Xfor [lie Y^harlocw Jewish ^^ACurnmunicy 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 • firstname.lastname@example.org 704-944-6777 CJP is a collaboration of Temple Beth El, Temple Israel and the Levinejewish Community Center.