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Endowment Foundation

Endowment Foundation

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Endowment Foundation

Help Ensure The Future By Leaving A Bequest To The Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation

L’dor v’dor, from generation to generation. The values of our people are passed on to our children and to their children

To help ensure the future of Seymour J. Abrams Cheder Lubavitch Day School, leave a bequest in your will to its Endowment Foundation. Remember that your will is much more than a legal document. It is also a final statement of your priorities and values.

Your bequest to the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation will be used to build its unrestricted Endowment Foundation. Income from that Endowment Foundation will benefit the school in perpetuity. There are various types of bequests that you can make:

  • An outright bequest specifies a certain dollar amount to be left to the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation:
    • The bequest may be either unrestricted and income from it used towards general operating expenses; or
    • May be restricted and income from it be used for a specific program.
  • A bequest of property may be given to the Endowment Foundation.
  • A residual bequest directs that the Endowment Foundation receive all or a portion of whatever remains from an estate once all other bequests, debts, expenses, and taxes have been paid.

To determine the best way to design a will that enables you to provide for both your family and Seymour J. Abrams Cheder Lubavitch Day School, we encourage you to consult with your attorney.

The Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation was created as part of the Jewish Federation’s Centennial Campaign, which honors its 100 years of service to the Community.

For more information about how to leave a bequest to the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation, please contact Rabbi Yitzchok Wolf at (847) 675-6777 or Donna Kahan at (312) 444-2827.

Profit from your own generosity. Provide for the future of the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation while you receive income for life!

A Charitable Gift Annuity for the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation offers significant tax benefits and great rates of return while you provide for the future of Seymour J. Abrams Cheder Lubavitch Day School.

Here’s how a Charitable Gift Annuity to benefit Seymour J. Abrams Cheder Lubavitch Day School works. A donor makes an irrevocable gift of cash or marketable securities to the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation through the Jewish Federation of Metropolitan Chicago. In return, the donor receives a guaranteed fixed income for life. The ultimate proceeds are left exclusively to the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation as a permanent gift benefiting Seymour J. Abrams Cheder Lubavitch Day School in perpetuity.

Here are examples of current Gift Annuity rates being offered:

          Age Rate

90                 11.3%

85                   9.5%

80                   8.1%

75                   7.2%

70                   6.6%

These sample rates are for a one-life charitable gift annuity.

Find out how you can earn both financial and emotional returns on your investment – and find out how you can be there for Seymour J. Abrams Cheder Lubavitch Day School while providing for yourself.

The Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation was created as part of the Jewish Federation’s Centennial Campaign, which honors its 100 years of service to the Community.

Call Today
Rabbi Yitzchok Wolf at (847) 675-6777
or Donna Kahan at (312) 444-2827

Create a Legacy with Individual Retirement Accounts and Other Retirement Plan Assets

Leave a legacy that will secure the future quality of Jewish communal and family life by naming Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation as a beneficiary of your IRA. Your generosity will be memorialized as an example and inspiration for future generations.

Currently, your retirement plan assets are subject to two taxes upon your death: estate and income tax. This means that if your estate is over the exempt amount, currently at $1,500,000, up to 80% of you IRA may go to the IRS upon your death. As a result of these taxes, only a small portion of your IRA funds may pass to heirs. Under recently enacted IRS regulations, it is now easier to contribute your IRA and other retirement assets to charity upon your death. Now is the time to review your estate plan with your attorney and/or financial advisor.

Through careful planning you can minimize or even avoid estate and income taxes on IRAs and other retirement assets. You can decide who should benefit from your funds instead of the IRS.

The way of contributing your IRA to Seymour J. Abrams Cheder Lubavitch Day School upon your death is by a beneficiary designation form. Contact the administrator of your IRA or other qualified retirement account and let him/her know that you would like to name the Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation as a death beneficiary. Suggested language is as follows:

The beneficiary of my account balance is the
Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation.

Making a provision in your will is not sufficient. You must change the beneficiary designation form.

Please note that if the plan holder leaves a surviving spouse, a written waiver is necessary.

If you or your advisor would like more information on maximizing your charitable and tax planning objectives, or other ways to contribute your retirement plan assets, please call Rabbi Yitzchok Wolf at (847) 675-6777 or Donna Kahan at (312) 444-2827.

The Seymour J. Abrams Cheder Lubavitch Day School Endowment Foundation was created as part of the Jewish Federation’s Centennial Campaign, which honors its 100 years of service to the Community.

This is for information purposes only and is not meant to be a substitute for legal or financial advice. Please consult with your professional advisors regarding your individual situation

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