The types of gifts we’ve just explained are examples of contributions which can be made now. Another option, a deferred gift, will benefit JCJC in future years. These are investments that will make a positive difference in the future of JCJC.
1. Your Will One way to make a deferred gift is to include specific language in your will naming the JCJC Foundation as the recipient of your planned gift. Your will can include gifts in the form of the following:
(a) cash, securities, and personal property; (b) a percentage of your estate; and/or (c) the residue of your estate — property remaining after other bequests have been fulfilled.
Your estate is allowed an unlimited deduction for cash and other property that you leave to the JCJC Foundation. Please contact your tax consultant, financial planner, or attorney to help you plan the type of bequest which best suits your needs.
2. Gifts of Life Insurance Life insurance provides an effective way to benefit JCJC for several reasons: (a) Your gift of life insurance will provide the JCJC Foundation with a substantial deferred gift while you pay relatively modest premium payments. (b) This type of gift will not be delayed during the administrative process of your estate, and proceeds from the policy can be paid promptly to the JCJC Foundation. (c) A gift of a fully paid or partially paid insurance policy may be advantageous if your family responsibilities are no longer as substantial as they were in the past.
Please ask your life insurance agent for further details on the numerous types of insurance gifts you can make.
3. Retirement Savings You may name the JCJC Foundation as beneficiary of a portion of your retirement funds. If you wish to make this type of gift, please contact the administrator of your Individual Retirement Account, profit sharing account, or other retirement plan.
4. Deferred Gifts In some instances, you can designate a specified amount of money in a qualifying trust which will provide income to you (and your spouse) for life; thereafter, the principal will be paid to the JCJC Foundation upon your demise or upon a specified date. These trusts, which are generally described as charitable remainder trusts, assure income while providing an immediate charitable deduction to you for the remainder of the interest which will someday be paid to the JCJC Foundation. For additional information concerning such a trust, it is advised that contact your attorney, CPA, or tax advisor.