Legacy Giving
Why give?
Bet Alef gives us a unique experience of being Jewish. Making a gift to Bet Alef not only recognizes the depth of this experience, but secures it’s existence for future generations.
In Judaism, tzedakah is not merely an act of giving; it is a commitment of faith.
Financial contributions can serve immediate needs (and) or nourish long-term aspirations. They provide inspiring worship services, stimulating educational opportunities for children and adults, connection for our congregational community, fulfillment of our commitment to tikkun olam (repairing the world) and K’Lal Israel (the Jewish community worldwide). And, they provide the foundation to grow.
L’Dor Va Dor
Legacy Gifts
“Just as my ancestors planted for me, so too, will I plant for my children.” Talmud, Ta’anit 23A
Through your legacy, you can ensure that the experience of Bet Alef can survive and thrive for generations to come.
One of the most powerful gifts we can give is a legacy gift that will) provide for the future of our community. (A bequest is perhaps the simplest way to provide for the future of Bet Alef.) Naming Bet Alef as a beneficiary for a set amount or percentage of one’s estate in either a will or trust can create and perpetuate your Jewish legacy and fund our future.
See below for a few ways to leave a legacy.
Gifts through Wills and Trusts
Including a gift in your will or trust is the most common method used to leave a legacy and is very simple. You can designate a specific dollar amount, or specific property such as your residence, or a percentage of your estate or a portion or all of the residuary of your estate.
If you already have a will, you don’t need to start over. You can amend your will with a simple codicil. You can also amend your trust. A bequest affords you great flexibility. If your circumstances change, you can make adjustments to your will (or living trust) at any time.
Your attorney will need to know our legal name: Bet Alef Meditative Synagogue.
Here is a sample of language your attorney will need:
To Bet Alef Meditative Synagogue,806 N. 64th St., Seattle, WA 98103,
taxpayer identification #95-4462148, I give [ % of the remainder of my estate / the sum of $_____________ ].
Gifts through Retirement Accounts
As a non-profit corporation, Bet Alef Meditative Synagogue does not pay taxes so the entire amount of the gift passes tax-free.
You may give a portion or all of your 401(K), 403(b), Keogh, IRA, or other qualified pension plan through a simple beneficiary designation. All that you have to do is request the form from your plan administrator.
Transfer on Death (TOD) or Payable on Death (POD
You can designate that all or a portion of specific assets be transferred to Bet Alef upon your death. A POD form is used for bank assets (e.g., savings and checking accounts, savings bonds, deposit certificates); a TOD form is used for securities (e.g., stocks, bonds, mutual funds). A Beneficiary Deed is used for real estate. Nothing transfers at all until your death, and you can change or revoke the documents at any time.
Frequently Asked Questions
I’m Not Wealthy, Are Legacy Gifts Right For Me?
A legacy gift has no impact on your current finances. The gift is effective upon the distribution of your estate. Legacy gifts are a way to say, ‘you mattered to me.’ Even modest gifts are appreciated.
Must I have an estate in order to leave a legacy?
You can assign Bet Alef as a beneficiary on a variety of financial accounts without a will, by contacting your financial planner or account representative for the appropriate beneficiary form.
However, it is a better idea for you and your heirs, if you have a will. A will enables you to document your wishes and clarify how your assets are to be distributed. If you don’t have a will, now is a great time to get started on a comprehensive plan.
Why should I consider leaving a legacy?
Consider the impact of Bet Alef on your life. What is that gift worth to you? What if you have the ability to help it become the community we dream of?
When should I start to think about leaving a legacy?
The time is always right to think about whom/what you wish to recognize or honor. A legacy is a way for you to document how you wish to be remembered.
Do I need to have a will or trust?
Without a will or trust, your loved ones may lose control of how your assets are distributed after your death.
Why wouldn’t I leave all of my estate to my children?
Legacy gifts can be a small percentage/portion of your estate, leaving the bulk of your assets to your children. If your estate is subject to the estate tax, this gift can reduce the estate tax burden leaving more to your heirs.
Where does the gift go?
Legacy funds add to the Michael Geller Fund, the existing Bet Alef endowment. The purpose of the fund is to provide a financial foundation that enables Bet Alef to realize its dreams
How does Bet Alef know that I’ve left a gift?
You can choose to send Bet Alef a simple letter of intention with your attorney’s contact information.
Or you can elect to use the following hyperlink to notify us digitally.
How can I invite my children into the process?
You should engage your children in the legacy gift planning process. Here are some suggestions:
- Initiate a family discussion about your charitable giving and values.
- Invite them to visit services and programs you care about, so they understand Bet Alef’s importance to you
- Listen to and acknowledge their concerns.
How can my legacy inspire the community?
The legacy planning process can build bonds with others committed to the future of our community.
Giving gives the giver a huge return. Donors report an increased sense of belonging, as well as renewed connections with the mission, values, fellow members, and practices.
How can I get started?
Contact us HERE to discuss your legacy. We look forward to hearing about what is meaningful to you. Legacy commitments will keep the community strong and vibrant for generations to come.
