Leaving a meaningful legacy doesn’t always require vast wealth or complex estate planning. In fact, some of the simplest and most impactful ways to support Jewish Federation of Palm Beach County (EIN: 59-0948696)  after your lifetime can be done using assets you may already have.

1. Name Jewish Federation of Palm Beach County as a Beneficiary of Your Retirement Plan (401(k), 403(b), or IRA): One of the most tax-efficient ways to leave a charitable gift is through a retirement plan. Federation is a tax-exempt non-profit organization (a qualified 501(c)3) and will receive the full value of your gift.
2. Designate Federation as a Beneficiary of Your Donor-Advised Fund (DAF): You can designate Federation to receive the remaining DAF balance.
3. List Federation as a Beneficiary of a Life Insurance Policy: Life insurance policies offer a straightforward way to provide a large charitable gift at a relatively low cost during your lifetime. You can designate Federation as the primary or contingent beneficiary.
4. Use a Commercial Annuity to leave Federation a Charitable Gift: Similar to retirement accounts, commercial annuities have “income in respect of a decedent” (IRD), meaning heirs may owe income taxes on inherited annuity balances. Naming Federation as the beneficiary avoids this issue and can maximize your impact.
5. Coordinate with Your Estate Plan: While beneficiary designations generally supersede a will or trust, it’s wise to coordinate all documents to ensure consistency and clarity in your charitable intentions. A quick review every few years—or after major life changes—can ensure everything is up to date.

Leaving a charitable legacy doesn’t have to be complicated. With a few simple beneficiary designations, you can support Federation and the causes you love in a tax-efficient and meaningful way.

To learn more about the advantages of designating Federation as a beneficiary of your retirement plan(s), life insurance policies, DAF or commercial annuities, or to learn more about changing your designations, please contact:

William A. Meyer Jewish Community Foundation

Phone: 561-242-6639

Email: meyerjcf@jewishpalmbeach.org

*Please consult a licensed estate planning professional to ensure compliance with applicable state laws.