Trusts are formal legal arrangements designating a trustee to receive and hold legal title to property and administer the property according to your instructions. Trusts can arrange for any financial or administrative function.
Trusts can be very simple, or they can be as complex as necessary to meet your various financial, charitable and personal goals.
Who Might Set Up a Trust?
- Parents who want to establish a secure source of lifetime funding for a disabled or financially irresponsible child
- Owner of a closely held or family business with heirs likely to sell after inheriting
- Owner of low-dividend stocks that are worth significantly more today than when they were purchased, or majority of portfolio in employer’s company stock
- Retiring farmer with last year’s crop to sell and no expenses to offset income
- Owner of real estate or personal property free of any lien or mortgage that is not producing any income
What Types of Trusts are There?
Charitable Lead Trust
Charitable lead trusts are designed to provide income to Chosen People Ministries immediately and for a period of years, after which the property either reverts to you or passes to those you designate, typically your children or grandchildren. These trusts are most often used to transfer assets that are expected to appreciate in value to your heirs, effectively reducing gift and estate taxes. If you anticipate high estate and gift taxes, the lead trust may be an excellent vehicle for passing assets along to your heirs.
Charitable Remainder Unitrust
The charitable remainder unitrust is a popular trust that allows you to receive an income for life. The percentage of payout is determined at the time the gift is made. Your payments vary from year to year and you can make additions at any time. When the value of the unitrust increases, your payment increases, and vice versa.
Charitable Remainder Annuity Trust
The annuity trust is similar to the unitrust with one key difference, your payments are fixed and determined at the time you establish the trust. You also receive a tax deduction upon the creation of the trust.
How can I get more information?
If you think a trust might help you, or you would like more information about charitable giving using trusts, please contact our Planned Giving department. You can e-mail us, call us at 212-223-2252, or write to us at Chosen People Ministries, 241 E. 51st Street, New York, NY 10022.
A bequest is one of the most meaningful legacies you can provide for your family, friends, and Chosen People Ministries. Your bequest helps ensure that your wishes for the future of Jewish evangelism will be honored. We have been able to sustain many of today’s outreach programs due to the generosity and vision of our former supporters.
If you are planning to write your will, or if you already have one, you may want to consider these common ways to make a bequest:
Specific Dollar Amount
“I give, devise and bequeath to Chosen People Ministries, 241 E. 51st Street, New York, NY 10022, $____________ .”
Percentage of Your Estate
“I give, devise and bequeath to Chosen People Ministries , 241 E. 51st Street, New York, NY 10022, ___________% of my estate.”
Residue of Your Estate
A residuary bequest to Chosen People Ministries directs that all the residue, or a percentage of the residue, of your estate be paid to the ministry after all debts, taxes, expenses, and all other bequests have been paid.
“All the residue of my estate, including, without limitation, real and personal property, I give, devise and bequeath to Chosen People Ministries, 241 E. 51st Street, New York, NY 10022.”
Specific Asset from your Estate
“I give, devise and bequeath _______ (insert a description of the asset here, such as stocks, bonds, mutual fund shares, real estate, works of art or antiques) to Chosen People Ministries, 241 E. 51st Street, New York, NY 10022.”
You can name Chosen People Ministries to receive all or some of your estate if your primary heirs predecease you. You might do this to protect your estate from expensive litigation or from ultimate distribution to the state or unintended beneficiaries.
“If _____________ (insert the name of your heir) predecease me or disclaims any interest in ____________ (describe the asset or portion of your estate here), I give such property to Chosen People Ministries, 241 E. 51st Street, New York, NY 10022.”
A bequest can also provide life income for someone you wish to remember.
How can I get more information?
For advice on how you can make the greatest impact with your gift, just contact our Planned Giving department. You can e-mail us, call us at 212-223-2252, or write to us at Chosen People Ministries, 241 E. 51st Street, New York, NY 10022.
Endowments and Memorials: The Gifts that Endure
Chosen People Ministries is an organization dedicated to bringing the Gospel to Jewish people. What better way to pay tribute to someone that has touched your life and who loved the Lord and the Jewish people than through a memorial gift to Chosen People Ministries?
Memorial gifts are very flexible. Every gift outlined in this web site can be made in memory of a loved one. We can help you in choosing a gift that suits your needs. E-mail us or call us at 212-223-2252.