How to Make a Bequest

Why should I leave a gift to the National Yiddish Book Center?

Because we’re a visionary, hardworking, takhlesdik (practical) organization, where your support will help save Yiddish books and culture for generations to come.

How do I add the Center to my Will?

Call your lawyer. He or she can help you draft a new Will, or else add a Codicil to your existing Will naming the National Yiddish Book Center as a beneficiary. Our official name and address:

National Yiddish Book Center
Harry and Jeanette Weinberg Building
1021 West Street
Amherst, MA 01002.

Are there different kinds of bequests?

Yes, a bequest to the Center can take one of several forms:

1. Specific bequest: You decide now exactly how much money, what assets, or what percentage of your entire estate will pass to the Center after your death.

2. Residuary bequest: You can specify the portion of your estate that will pass to the Center after other designated beneficiaries receive their specified gifts, and after expenses are paid.

3. Contingent bequest: All or a portion of your estate will pass to the Center only if the named beneficiaries do not survive you.

Does it make sense to make my bequest through an income-producing trust?

Sometimes income-producing trusts can lead to significant tax savings. A Charitable Remainder Trust provides income to you, your surviving spouse or another named beneficiary for a period not to exceed 20 years, after which time the assets, or “remainder,” will go to the Center. Conversely, a Charitable Lead Trust can be used to provide a regular income to the Center for a set number of years, after which the appreciated assets pass to your children or other designated heirs. Your lawyer can provide further details.

What assets can I leave to the Center?

Almost any asset can be left to the Center through your Will or Codicil: cash, securities (including Israel bonds), real estate, art work, and more. Just give us a call, and we’ll let you know if the intended gift is appropriate for the Center.

Will a gift to the Center reduce the taxes on my estate?

The National Yiddish Book Center is a non-profit, tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. That means that if your estate is big enough to be taxable, the assets you bequeath to the Center will reduce those taxes – possibly placing your estate in a lower bracket or helping you to avoid estate taxes altogether.

Are there any disadvantages to making a bequest to the Center, as opposed to an outright gift now?

Yes. The tax benefits of a bequest will be postponed until after your lifetime; the Center can’t make use of your gift until after your estate is settled; and you’ll miss out on the nakhes of seeing your gift put to use while you’re still alive. On the other hand, by writing the Center into your will you’ll enjoy nakhes of a different sort, knowing that your estate will continue to champion Yiddish books and culture, even after you’re gone.

I would like to establish an income-producing trust or make a bequest. What do I do next?

Just phone your lawyer – he and or she will know what to do. If it’s not too much trouble, please let us know as well, so we can say a proper thank you and discuss opportunities for commemorating your gift while you’re still here to kvel in person.

A sheynem dank – Our special thanks!