Alphabet Soup
DAF
What is a Donor Advised Fund?
Planned gifts are given in the form of this when left in a will.
What is a bequest?
RMD
What is a Required Minimum Distribution?
The most commonly used way to fund a gift.
What is cash?
This is a generic term for a gift to charity in one's will or estate.
What is a Legacy Gift or Estate Gift?
QCD
What is a Qualified Charitable Distribution?
These types of planned gifts include “charitable remainder” and “charitable lead.”
What is a trust?
True or False: An RMD is a taxable event.
What is True?
For donors wishing to fund a larger planned gift without touching their cash, this alternative form of funding a gift can have a big impact and can also have positive capital gains tax implications.
What is Real Estate or Appreciated Assets?
When leaving a gift in your will, some donors choose to leave a specific dollar amount while others choose to leave a _______ , of their estate.
What is a Percentage or Portion?
CGA
What is a Charitable Gift Annuity?
True or False: Estate Planning laws prevent planned gifts from being distributed in a proportional manner. Example: My Life Insurance Policy cannot list 50% to a family member and 50% to a charity.
What is False?
The IRS Term used to describe the process when a person puts their RMD back into a retirement account to avoid taxation?
What is Tax Fraud / IRS penalty / Illegal?
….Pick your violation.
Everyone knows they can name their spouse or children as a beneficiary on this, but you can also list a charity on this resource that most people purchase and pay on annually.
What is a Life Insurance Policy?
This type of bequest is when a donor in his/her will specifies a particular purpose toward which the bequest must go, such as a named endowment.
What is a Restricted Gift?
CRUT
What is a Charitable Remainder Unitrust?
Donors wishing to make a well-planned gift should consult with their attorney, financial advisor and this”professional who they meet with by April 15 of each year.
What is a Tax Advisor or Certified Public Accountant (CPA)?
True or False: The IRS requires RMDs be reinvested in a taxable account or spent within one year of receipt.
What is False?
Savings that you accumulate through your professional career, such as a 401K, are referred to as these types of assets.
What are Retirement Assets?
This type of bequest is made to LAJH when the decedent's beneficiaries are no longer alive or decline the bequest.
What is a contingent bequest?
NIMCRUT
What is a Net Income with Makeup Charitable Remainder Unitrust?
Donors who notify us that they have arranged for a planned gift to Los Angeles Jewish Health are included in what society?
What is the Legacy Circle?
The three primary requirements to make a charitable donation using your RMD?
What is be age 70-1/2 or older, donation transferred directly from the IRA to the charity, and completed prior to December 31?
An attractive tool for making a planned gift to a charity while earning income today is a trust. Name one of the two most popular types of charitable trusts.
What is a Charitable Lead Trust or a Charitable Remainder Trust?
This type of gift is when a donor deeds their primary residence to LAJH but retains the right to live in it for their lifetime.
What is a Retained Life Estate?