For over 160 years Mount Zion has been a home for our Jewish community. We are indebted to past generations for planning for the future – our present. Today it is easy to take for granted their efforts at community-building and institution-building, the endowments and magnificent building that enable us to have the vibrant, welcoming community we enjoy. If you have ever experienced Mount Zion as a place you were grateful for; if you have found solace in a time of sorrow, camaraderie in a time of joy, appreciation for your growth as a person let alone as a Jew; then we invite you to feel the sacred call to ensure that future generations will inherit a strong community. Your legacy gift of any size will make a difference and will be appreciated in the years to come.

Please make your Legacy pledge by completing this Letter of Intent, created in partnership with the St Paul Jewish Federation, the Harold Grinspoon Foundation, and other participating community organizations.  Please email or mail your commitment to Kate Tucker. If you would like to have a personal conversation or have questions, contact Kate at 651-698-3881.

Some options include:

What It Is: A Charitable Bequest is a gift that is contained within a will or trust. Bequests are one of the easiest ways to leave a legacy.

How It Works: You can elect to provide a bequest to Mount Zion of a specific dollar amount or a specific asset, such as securities or real estate. The charitable bequest can be in the form of a percentage of a donor’s estate or a percentage of the remainder of the estate. Bequests can be made through your will or revocable living trust. You may add a codicil to your will and/or make an amendment to an existing revocable trust. Your estate attorney can best advise you in this regard.

Advantages:

  • You continue to enjoy the assets during your lifetime
  • You may change your estate plan at any time
  • Enjoy the satisfaction of knowing during your lifetime that your Jewish legacy will ultimately have a significant impact on the future of Jewish life at Mount Zion
  • You can establish the legacy in your own name, extend recognition to loved ones, or remain anonymous
  • Donor recognition and memorial opportunities are available
  • Bequests are an effective planning tool to reduce the taxable estate
  • The gift will be professionally managed by The Foundation

SAMPLE BEQUEST LANGUAGE:
I give, devise and bequeath the sum of ______________________ ($__________, ___________%, or the remainder of my estate) to the Mount Zion Hebrew Congregation, St. Paul, MN, to create a permanent endowment in my name to support the following organization(s): __________________________________. Suitable recognition shall follow the establishment of the fund.

What It Is: Life Insurance allows you to make a present, rather than future gift, which may be much larger than you think might otherwise be possible. Gifts of insurance are generally affordable, especially for younger donors.

How It Works: You name Mount Zion or any Life & Legacy partners as beneficiary of a new life insurance policy. If the gift is irrevocable and Mount Zion or a Life & Legacy partner is the owner and beneficiary of the policy, you are entitled to a charitable income tax deduction for all premiums paid. Existing policies may also be contributed, and you are entitled to a charitable income tax deduction for an amount essentially equivalent to the cash value of the policy.

Advantages:

  • You create a meaningful legacy at minimum cost
  • You enjoy significant estate and income tax savings
  • Allows you to transfer other assets to your heirs

What It Is: You may wish to designate Mount Zion and/or Life & Legacy partner(s) as the beneficiary of all or part of your qualified retirement plan (IRAs, 401Ks, Keogh Plans and others). When children or other heirs are designated as beneficiaries, they may receive only a small fraction of the plan’s value since inherited retirement plan assets are subject to both estate and income tax.

How It Works: You formally change the designated beneficiary for all or a portion of your qualified retirement plan to the Mount Zion and/or Life & Legacy partner(s). Upon death, the remaining balance or designated sum transfers directly to the organization(s) of your choice free of estate or income tax.

Advantages:

  • You create a meaningful legacy at minimum cost
  • You enjoy significant estate and income tax savings
  • Allows you to transfer other assets to your heirs

What It Is: A Charitable Gift Annuity is a contractual agreement between you and Mount Zion. An irrevocable gift of cash or marketable securities is made to Mount Zion. In return, the donor or one to two other annuitants receive a guaranteed income each year for life.

How It Works: An annuity payment is calculated based on the age(s) of the annuitants on the date of the gift and other factors. This income is paid for life, and then the remaining funds become a permanent legacy in your name.

Advantages:

  • Guaranteed income for life, for you and/or your spouse or another
  • You receive a significant charitable income tax deduction in the year of the gift and favorable tax treatment for the income as it is paid
  • You save capital gains taxes by funding Charitable Gift Annuities with gifts of appreciated property

What It Is: A trust that allows you to contribute significantly to Mount Zion and/or Life & Legacy partner(s) now, while planning for the future of your family or a loved one.

How It Works: The trust is established and a portion of the trust’s investment yield is contributed to Mount Zion and/or Life & Legacy partner(s). Then, after a specified time or a lifetime, the remainder of the trust is transferred back to the donor or to beneficiaries of the donor’s choosing.

Advantages:

  • Reduced capital gains, income or estate tax in variable combinations
  • The donor can provide current support to organizations they care about while also making sure loved ones are provided for after his or her lifetime
  • The donor can qualify for gift or estate tax savings based on the current value of the income paid to Mount Zion and/or Life & Legacy partner(s) during the trust term