Bequests

Tiferes can benefit from those who remember the Yeshiva in their wills. A gift by bequest offers a practical way to provide substantial support to an institution that has meant so much to you. Bequests both large and small can help to build Tiferes and to provide funds for necessary operating expenses, including faculty support, programming and student financial aid.

Because we believe that a bequest intention demonstrates the gratitude and affection an alumnus feels toward the Yeshiva, we want to recognize you, along with all of the outright donors to Tiferes, by listing you as a member of the Director’s circle. While it is very important for others to see the example you set, we would be happy to list you anonymously, should you prefer it.

If you have already provided for Tiferes through your estate plans, or are thinking about doing so, please contact the office of the Yeshiva. Your gifts do much to ensure the future of this institution and serve as an inspiration to others. Many thanks.

Ways to include Tiferes in your will

Outright Bequests
An outright bequest is the simplest method of making a testamentary gift to Tiferes. An outright bequest is a gift by will of a specific sum of money or of a specific piece of property (such as securities or real estate). The following language can be used in a will to make an outright bequest:

"I hereby bequeath to Tiferes Menachem, 4823 Beach 48^th Street, Sea Gate, New York 11224, the sum of $_____________ (and/or the following described property ______________)."

Residuary Bequests
Some donors would like to make a bequest to Tiferes but are not sure of the amount that will be available. Others want to make sure that specific bequests or estate expenses are paid first. In these cases, a residuary bequest is the best idea. A residuary bequest provides Tiferes with a percentage or all of the remainder of a donor's estate after specific bequests, debts, taxes, and estate expenses have been paid. A residuary bequest to Tiferes is made in a will by incorporating the following language:

"I hereby bequeath all (or _____percent) of my residuary estate to Tiferes Menachem, 4823 Beach 48^th Street, Sea Gate, New York 11224."

Contingent Bequests
Many donors have family and friends for whom they feel responsible and choose to provide for them first in their wills. In this case, the donor can leave what is known as a contingent bequest to Tiferes. The contingent bequest provides first for the family and friends and benefits the Yeshiva only if the named beneficiaries predecease the person making the will.

"I bequeath to my sister, Rivka Roe, the sum of $__________ and, in the event she shall predecease me, I direct this sum to be paid to Tiferes Menachem, 4823 Beach 48^th Street, Sea Gate, New York 11224."

How Tiferes Benefits from Bequest Gifts
Any of the bequests described above can either be restricted to a particular use or unrestricted.

Unrestricted Bequests
An unrestricted bequest is the simplest and most common kind of bequest. It is also the most useful because the property bequeathed can be used at the discretion of Tiferes' Trustees and administrators for the Yeshiva’s most important funding needs, which may change from time to time. The following language is suggested for use in making an unrestricted bequest:

"I hereby bequeath to Tiferes Menachem, 4823 Beach 48^th Street, Sea Gate, New York 11224, the sum of $___________ for its general purposes."

Restricted Bequests
Many Tiferes donors are interested in promoting or supporting special programs at the Yeshiva. The donor may designate the use of a bequest for such purposes as student financial aid, faculty salary support or physical plant improvement. We strongly urge donors to consult with the office of the Yeshiva before drafting a detailed bequest for a restricted purpose. In addition, it is recommended that any specific purpose be described as broadly as possible and that detailed limitations and restrictions be avoided. The following language is recommended to account for all possible contingencies:

"If at any time, at the discretion of the Trustees of Tiferes Menachem, this bequest shall no longer be necessary for the stated purpose, the Trustees shall have the authority to designate its use for another that, to the extent possible, closely carries out my original intention."

Tax Benefits of a Bequest to Tiferes
A bequest to Tiferes is not subject to federal or state estate or inheritance taxes, and there is no limit on the allowable deduction.

For further information on leaving a bequest to Tiferes Menachem please contact the office of the Yeshiva.

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