MI-IN ALDE Conference
May 28-29, 2015
Gift Planning is
•Relationships•Relationships•Relationships
Relationships
Relationships
• Endowment Committees/ Boards
Relationships - Families
Seminars
•Church• One Hour• Personal Mtg
with interested families
•Holy Cross Model• 2 - one hour
sessions• Personal mtgs
ResourcesArticles
• Website• Newsletters• Bulletins
Communication
• Preamble• Estate Organizer• Home info• Funeral Plan• Legacy
Referrals
• Family• Friends• Pastor• Leader
Estate Planning Toolbox
Blueprints
Genesis 1:1 1 In the beginning God created the heavens
and the earth.
Psalm 24:1 1 The earth is the LORD’s, and everything in it,
the world, and all who live in it
Psalm 139:13-14
For you created my inmost being; you knit me together in my mother’s womb.
14 I praise you because I am fearfully and wonderfully made; your works are wonderful, I know that full well.
Jeremiah 29:11 11 For I know the plans I have for you,” declares the LORD, “plans to
prosper you and not to harm you, plans to give you hope and a future
17 You may say to yourself, “My power and the strength of my hands have produced this wealth for me.” 18 But remember the LORD your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant,
which he swore to your ancestors, as it is today
Deuteronomy 8:17
Job 1:21 “Naked I came from my mother’s womb, and naked I will depart. The
LORD gave and the LORD has taken away; may the name of the LORD be praised.”
John 14:1-3 2 My Father’s house has many rooms; if that were not so, would I have told you that I am going there
to prepare a place for you? 3 And if I go and prepare a place for you, I will come back and take you to be
with me that you also may be where I am
Tool #1
What’s the right balance for you?
Making decisions isn’t easy!
Below 50% have a Will/ Trust
I don’t care what happens when I’m gone!
“I’m Young. I have plenty of time!”
• Accident
• Disease
“I don’t have anything!”
• Guardians
“I have everything in joint tenancy.”
• Best solution?
• Next generation?
“I can’t afford to do it!”
• List of items to include
• Alternative methods
I don’t like thinking about it!
“I know I should, I just haven’t taken the time.”
• Procrastination
Tool #2
“Intestate”
The State has a Plan
ESTATES AND PROTECTED INDIVIDUALS CODE (EPIC)
Intestate:
• Your estate will be managed by an administrator appointed by the court.
Intestate:
• The court will appoint guardians for minor children.
• EPIC (4/1/00) allows nomination of guardians w/o preparing an entire will.
Intestate:
• The court will control the minor’s property – Age 18
Intestate:
• Your entire estate, if you are survived by descendants, may not go to your spouse.
Intestate:
• The cost of probating your estate may be greater without a carefully prepared will/trust.
Intestate:
• Estate taxes may be greater.
Intestate:
• You may have missed a final opportunity to transfer a farm or business to your family.
Intestate:
• No chance to leave an estate gift to your church, ministry or charity.
Tool #3
How does your plan measure up?
Trust or Will ReviewHow long since you last looked?
Review??• Attorneys say every 2 to 5 years
• Move to another state
• Have more children or grandchildren
Review??
• Your children reach legal age
• You acquire or inherit property
• Tax laws change
Review??
• Changes in your goals or needs
• Your charitable interests change
Tool #4
Review doesn’t equal change!!
• Fine tune• Name changes?• Beneficiaries
match?• Are goals the
same?
Review doesn’t equal change!!
• Adjustments outside of will or trust
• Personal property memo
• Add a Christian preamble
Tool # 5
Many moving parts
• Do I have to use an attorney?
• What if I don’t have an attorney?
• Do I need a will?
Moving Parts
• What’s a Durable Power of Attorney?
• Medical Power of Attorney
• What’s Probate?
Moving Parts
• What about a Revocable Living Trust?
• How do I leave a gift to ministry?
• How do I get started?
Will Options
• Holographic Will (hand written)• Michigan Statutory Will• Online Wills/ Trusts• Estate Planning Attorney
• 18 years old• Able to make decisions• 2 witnesses plus testator signature
Will vs. Living Trust
• Public• Less up front $$• Personal Rep• Executed at death• Ticket to Probate• Distribution at death• Probate expenses
• Private• More initial cost• Successor Trustee• Go on after death• Avoid probate• Flexible distribution• Pour over Will
Power of AttorneyFinancial
• When you can’t make decisions.• Pay the bills• Make financial
decisions
Medical• Unconscious /
coma• Make medical
decisions• Extent of
treatment• DNR
Beneficiary Designations
• Life Insurance• IRA • TOD/POD
Gift to MinistryIRA or Appreciated Stock
• What happens at distribution?
• Capital Gain?
Savings or CD
• Any Taxes due?
Tool # 6
What is important to You?
• How has God blessed you?
• How do you want to handle those blessings?
What is important to You?
• Ask Questions
• Listen, Listen, Listen
Christian messages to include.
Christian Preamble
First, I commit myself to God’s care, secure in His love for me and trusting in the salvation purchased for me through Christ’s suffering and death. I leave those who survive me the comfort of knowing that I have died in this faith and have now joined my Lord in eternal glory.
Second, I commend my loved ones to the protecting arm of God, knowing that He will continue to provide for them despite my absence; and encourage them to place their faith and trust in Him alone.
Estate Plan Organizer Emergency Contacts
Documents
User names & passwords
Letters of Instruction
Letters to Family- Spouse/children
What should our families know?
Household Item Location or InfoMain Water Valve
Electrical Box
Acct User Names/ Passwords
Video Record of Contents
When Someone Dies!
• Organ donation wishes• Estate Plan Organizer• Call Clergy• Funeral Plans • (24 total items to consider) • www.ssa.gov• www.va.gov• www.medicare.gov
Funeral Planning Sheet
• Funeral Service Location• Burial vs Cremation• Favorite Bible Verses (Confirmation)• Songs/ Hymns• Basic personal information• Suggested Memorials
Create a Family Legacy
• Biggest Faith influence?• Best Advice received? From who?• Most unique/unusual memory?• Favorite Childhood activities?• Best Vacation ever?
Tool # 7
All Squared Away?
• Have people in place- confirmed?• Plan reflects your wishes?• Communicating “your” message?• Included a gift to ministry?
Tool # 8
Leaving a Gift to Ministry
• Tithe• Capital Campaign• Special Offering• Supporting a missionary
Leaving a Gift to Ministry
• Bequest (% of estate)• Beneficiary Designation• Life Estate Reserve
Tool # 9
Gift with Income
• Gift Annuity• Charitable Remainder Unitrust• Testamentary Unitrust
Gifts with Longevity
•Memorial/ Endowment Fund
• Donor Advised Fund
Tool # 10
This is Us!!
• Take time to listen.
• What’s important to you?
• What do you want to accomplish?
Professional Gift Planner
• Review current documents.
• Offer options to reach goals.
• Encourage to complete the plan.
Saddleback Leather Co.
Thank You