Maybe you’ve heard some of Lorenz Hart’s songs: The Lady is a Tramp or With a Song in My Heart? What you may not know is that a significant portion of the rights to the lyrics from these songs and hundreds of others belong to UJA-Federation of New York. When he died in 1943, Hart’s will left a trust for the benefit of his brother and sister-in-law, Dorothy Hart. At their deaths, the remainder of the trust was designated for the Support of Jewish Philanthropic Societies of New York, a predecessor organization of UJA-Federation.
When Dorothy Hart passed away, the trust terminated and its assets – chief among them the rights to those wonderful lyrics – went to UJA-Federation of New York to create the Lorenz Hart Endowment, which supports agencies in UJA-Federation’s domestic network. Lorenz Hart knew how important a bequest to the Jewish community could be.
So did Nathan and Betty Hersh.
Nathan Hersh was born in Montclair, but lived in Newark for most of his life. He met his wife, Betty, at a basketball game in Verona. They married in 1948. Following the riots in Newark, they moved to Florida and later lived at the Claridge House in Verona and Williams Island, Fla. Late in their lives, they moved to Northfield.
Through all of those years, their one constant was a commitment to UJA and to the State of Israel. Betty, in particular, loved to participate in Women’s Department programs and events. Nathan, who at one time was a salesman of Dutch Master cigars, also worked for Motorola and then Zenith. Retiring in his early 50’s, Nathan spent the rest of his life shrewdly managing his own investments. He especially liked to follow the industries of Israel as both they and the state grew.
Nathan and Betty never had children. According to their great-nephew, the two of them believed in their faith, and their faith in each.
When they passed away, within a year of each other, they left the remainder of their estate to the United Jewish Appeal of MetroWest. Their bequest now provides an annual gift to UJA which is far greater than the annual gift they gave during their lives. UJA honors them as “Benefactors of Our Future,” the highest level of Lester Society. Betty, who so much loved the Women’s Department, but was not a Lion of Judah in her lifetime, is honored posthumously as a LOJE – an endowed Lion of Judah.
By creating a will, you can protect your estate when you’re no longer here. But, as the Hershes demonstrate, a will can also be the most significant way to express your passion for causes that have been important to you during your entire lifetime. For the Hershes, a bequest helps guarantee the future of the Jewish people, in MetroWest, over 60 countries around the world, and in Israel, the land they loved so much. For generations to come.
In fact, bequests are crucial for leveraging much-needed funds for the Jewish community. Yet, according to the 2000-01 National Jewish Population Survey, only 13 percent of American Jews with assets greater than $500,000 or incomes of at least $150,000 leave bequests to charities. Of this group, only 3 percent make bequests to federations.
If you already have a will, it may be a good idea to review it and consider updating it. As you review it, consider the following questions:
By deciding to leave a bequest of a specific amount of cash, a percentage of your estate, or the remainder of your estate, you can create a permanent legacy. There is no limit on the amount you may set aside from your estate. You may make a gift as large or as small as you’d like. You may make a gift of cash, securities or other property, and your estate will receive a tax deduction in the amount of your charitable bequest. If you have already drafted your will, your attorney can help you arrange a charitable bequest with a simple amendment or codicil.
A charitable bequest to the United Jewish Communities of MetroWest NJ greatly benefits you, your children, grandchildren, and the community. In addition to tax advantages, you will get emotional satisfaction from doing something good for the people and community you love. Your children and grandchildren more often than not become more involved in the community when they’ve witnessed the creation of a legacy gift. You can be there for our community, too.
to request more information about charitable bequests, and for bequest wording.