A legacy gift—planned now and given in the future—creates a never-ending, evergreen connection to Lab/Shul’s mission, and sows seeds that will sustain its uniquely creative approach to Jewish spiritual study and worship.

The Legacy Circle has been established to recognize loyal partners and friends who have made provisions in their estate plans to support Lab/Shul in the years to come. Participation in this special circle of supporters celebrates our shared roots in Lab/Shul’s diverse, everybody-friendly community and our shared commitment to helping it thrive.

There is no more thoughtful investment in Lab/Shul’s long-term growth than a planned gift that will support its cherished leadership and programs beyond your lifetime. Your generosity establishes your personal legacy as a deeply appreciated community member and ensures the legacy of Lab/Shul as an organization enhancing the lives of generations to come.

As my ancestors planted for me, I, too, am planting for future generations

How is it set up?

There are a variety of ways to structure a planned gift, many of which offer financial benefits to you and/or your heirs. Some common types of legacy gifts for you to consider include:

A bequest, indicated directly in your will, is the most common type of planned gift. You may arrange for Lab/Shul to receive a specific dollar amount; specified securities, real estate, or tangible property; or a percentage of your estate. This type of planned gift offers multiple advantages:

  • A bequest does not diminish your current finances, so you may ultimately be able to leave a larger gift than you could presently make.
  • A bequest may result in a reduction of estate taxes.
  • A bequest is revocable during your lifetime, so you may adjust its terms as needed.

Sample language to include a bequest in a will, or in a codicil to a will, is as follows:

For a bequest: I give (the sum of _____ dollars) or (all or _____ percent of my estate) to Lab/Shul


a 501c3 organization registered in the State of New York (Tax ID: 46-3877785) .

For the bequest of residuary estate: I give [whatever remains] or [_____ percent of whatever remains] of my estate to Lab/Shul, a 501c3 organization registered in the State of New York (Tax ID: 46-3877785), after all specific bequests have been made and all expenses of administering my estate have been paid.

You can make Lab/Shul a beneficiary or remainder beneficiary of a retirement account, an investment account, or an insurance policy.

You can ensure that your family and other obligations are given priority by:

  • Making Lab/Shul a remainder beneficiary to receive a dollar amount or percentage of your estate only after other commitments have been honored.
  •  Making Lab/Shul a contingent beneficiary to receive all or a portion of your estate only if named beneficiaries do not survive you.

Beneficiary designation may be done easily by updating the beneficiary form for the account. Most companies managing these accounts allow you to update beneficiary forms online. When adding Lab/Shul as a beneficiary, be sure to include:

Our address:

Tax ID Number:
46-3877785

A life income gift allows you to give assets to Lab/Shul while providing yourself or others with income for a period of time before Lab/Shul is permitted to use your gift.

You may make a life income gift by transferring securities, cash, or other property to Lab/Shul; the organization then manages the investment of the assets and pays an income to you, your designated beneficiaries, or both. Income payments continue for the beneficiaries’ lives or, in some cases, for a term of up to 20 years.

Life income gifts include:

  • Charitable gift annuity—In exchange for an outright gift, Lab/Shul agrees by contract to pay a fixed amount each year to you and/or another beneficiary for life.
  • Charitable remainder unitrust—You establish a trust from which you and/or other beneficiaries receive variable annual payments for life or a term of years. At the end of the term, the remainder of the trust assets go to Lab/Shul.
  • Charitable remainder annuity trust—You establish a trust from which you and/or other beneficiaries receive fixed annual payments for life or a term of years. At the end of the term, the remainder of the trust assets go to Lab/Shul.

For continued review of this preliminary information about making a legacy gift, you can download our Legacy Circle program information here.

The above descriptions are for general information only and should not be construed as legal, financial or tax advice. Please speak with your financial and legal advisors about your specific estate plans.

FAQ

Got questions? Check out our frequently asked questions below or download as a PDF.

A planned gift to Lab/Shul is the pledge of a contribution that will be made partially or entirely after your lifetime. While giving to the annual fund, annual gala, or holiday rituals is a wonderful way to support Lab/Shul’s current programs, a planned gift supports Lab/Shul’s continued growth and legacy for generations to come.

There are a number of different factors to consider when making a planned gift, including:

  • when you wish the gift to be distributed (during or after your lifetime)
  • which type of asset you wish to give (a dollar amount, appreciated securities, or property)
  • which type of account or fund currently holds the gift assets (bank or brokerage account, insurance policy, donor advised fund, or IRA)
  • potential tax advantages to you, through a gift made during your lifetime, or to your loved ones, through a gift made from your estate.

If you would like to make a gift in the future that will not diminish your current finances, either a bequest to Lab/Shul in your will or a beneficiary designation of Lab/Shul for your retirement account, bank or brokerage account, or insurance policy could be a prudent choice.

If you would like to make a planned gift during your lifetime and are 70 1/2 years old or older, you may have the tax-smart option of making an IRA Qualified Charitable Distribution (QCD) to Lab/Shul.

If you would like to provide a reliable income stream to yourself and/or a family member or friend, there are two planned gift options to consider: a gift of cash or appreciated securities to Lab/Shul in exchange for a charitable gift annuity, or a charitable remainder trust that generates income for you and/or other beneficiaries and then reverts to Lab/Shul.

A planned gift may be made as a specific dollar amount or as a percentage of your estate. Designating a percentage of your estate means that you do not have to worry about the ultimate amount available for your gift—the percentage will be calculated by the executor of your estate, and Lab/Shul will receive the corresponding gift amount.

Yes, you may make a planned gift of appreciated securities—such as stocks, bonds, or mutual funds—either during your life or through your estate. By giving appreciated securities that you have owned for at least one year, you may be able to realize two different tax benefits: you could receive a charitable gift deduction and you could avoid paying capital gains tax on the appreciation.

Yes, a gift of real estate property (such as a primary residence, vacation home, or commercial property) can constitute a substantial gift to Lab/Shul. This type of planned gift would be accomplished by indicating a bequest in your will or trust documents that leave the proceeds from the sale of the property to Lab/Shul. During the administration of your estate, your executor would oversee the sale and the distribution of the proceeds. Potential financial benefits of making a gift of real estate include reducing both income taxes and estate taxes, receiving a charitable deduction, and avoiding capital gains tax.

Please note that gifts of real estate must be free of debt and free of damage that would preclude a sale.

You are welcome to designate the area you would like to support with a planned gift. However, because a planned gift is set up to transfer in the future, when changes to Lab/Shul’s programs and operations may have occurred, unrestricted support is the best way to guarantee that your generosity strengthens Lab/Shul in the areas where it will be most needed.

Yes, your dedication of a planned gift may be acknowledged anywhere that the gift is recognized, making this thoughtful designation of support all the more meaningful.

The best way to document your planned gift intention is to complete and sign Lab/Shul’s Planned Gift Pledge Form, which will be retained in three different places: with you, with your estate attorney, and at the Lab/Shul office. While details of your planned gift will also be documented at whichever institution holds the relevant assets (e.g. a bank, insurance company, etc.), the Planned Gift Pledge Form will summarize your intentions for all parties.

With your permission, we would be honored to recognize you as a member of the Lab/Shul Legacy Circle, and to acknowledge your generosity in the Lab/Shul Annual Report and other materials that publicly thank our supporters. The amount of your gift does not have to be disclosed, and Lab/Shul will not publicly recognize your planned gift without your consent. You may also choose to give anonymously.

Tell me more

Thank you for your interest in Lab/Shul’s Legacy Circle. We’d welcome the opportunity to speak with you about the options for making a legacy gift.
Please fill out our inquiry form and we will reach out to you shortly.