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I want to Give

Challenging economic times and a growing population of vulnerable older adults make your generosity more important than ever.  Please send a tax-deductible donation to JABA, Inc.  You may designate the gift to a particular program or location, or let us use it where it is most needed.  For more information, visit our profile and IRS form 990 on Guidestar.

 

 

 

Bequests

Bequest – The Gift that Builds JABA’s Future

An easy and low cost way to make a legacy gift is to include JABA in your will or trust instrument. Each individual legacy contributes to our financial strength and ability to meet the needs of older adults in central Virginia. If you have not already done so, please consider including JABA in your will or trust instrument.

Types of Bequests

There are two basic types of bequests: unrestricted and restricted bequests. With an unrestricted bequest, you allow JABA to use the funds where they are needed most. With a restricted bequest, you designate how your contribution will be spent.

You may leave cash, securities, real estate, or other appreciated assets. You may also choose to give a percentage of your estate after you provide for your heirs, or you may give all of your estate. Ask your attorney about your bequest options, such as specific bequests, residuary bequests, testamentary trusts and QTip trusts.

Tax Benefits

Generally, charitable bequests lower your taxable estate, which can reduce the amount of money you pay in taxes. To deduct charitable donations, your executor will need to itemize your tax return.

How to Make a Bequest

A bequest to JABA can be made by creating a new will, adding to your existing will with a codicil (a legal amendment to your will), or including JABA in your revocable trust. If you include JABA in a bequest provision, please notify Kim Peel, Director of Philanthropy at 434-817-5221 or email Kim Peel.
 

Sample Bequest Language

These are examples only and should be used with the advice and assistance of your attorney.

Unrestricted bequest

"I hereby give, devise, or bequeath (_______ dollars) (a specific asset) or (___percent of the rest, residue, and remainder of my estate) to the Jefferson Area Board for Aging, Inc., 674 Hillsdale Drive, Suite 9, Charlottesville, VA  22901 (doing business as JABA, an IRS 501c3 exempt organization, federal tax ID #54-0990078) for its general purposes."

Restricted bequest

"I hereby give, devise, or bequeath (_______ dollars) (a specific asset) or (___percent of the rest, residue, and remainder of my estate) to the Jefferson Area Board for Aging, Inc., 674 Hillsdale Drive, Suite 9, Charlottesville, VA  22901 (doing business as JABA, an IRS 501c3 exempt organization, federal tax ID #54-0990078) to be used for the following purpose: (_______________).

NOTE: If you wish to restrict your bequest to a specific purpose or program at JABA or you would like to gift an asset other than cash or publicly-traded securities, please contact the Development Office at JABA in advance to ensure we will be able to accomplish your wishes and that the gift aligns with JABA’s mission.
This information is not intended to provide legal or tax advice. Please consult your professional advisors before making any material decisions based on this information.

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