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The Rosenberg's Contributions to JCHE Are Long Lasting
“It’s the right thing to do,” says Paul Rosenberg about the decision he and his wife Marcia made to set up bequests to JCHE. Paul is Chair of JCHE’s Board, and has been involved in the planning effort for Shillman House in Framingham. “We feel a deep personal commitment to the work that JCHE does and decided that this was a perfect way to express it.” Paul’s relationship to JCHE did not evolve because a relative lived in one of the buildings. “Our connection is based on a belief that we all share a responsibility to offer wonderful housing to our community’s seniors. That requires tremendous resources and for years, we have made an investment of time to JCHE. A bequest ensures that our contributions are long lasting.” Bequests are very tax-effective: the funds would otherwise be taxed at the highest estate tax rate. When tax savings are factored in, bequests often “cost” the estate 50 cents on the dollar. According to Paul, many people mistakenly believe that their assets aren’t vast enough to make estate tax a major consideration. “With the exorbitant real estate prices in Greater Boston, homeowners may be surprised to discover that the value of their estate is sizeable.” The Rosenbergs found that they did not have to choose between their children and their causes when setting up their bequests. “Even as we were raising our kids, we made it a priority to be philanthropic. Our estate planning is consistent with this thinking. Our bequests are a portion of our estates, not the entire estate. We’ve been able to meet everyone’s needs in a way that feels right.” |
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