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MISSION DRIVEN ENDOWMENT

Gifts of land supported the planning of the church ("ecclesia plantanda!" - Muhlenberg). Asset gifts created church schools, seminaries, hospitals and social service ministries. Church members can fund, through wills and planned gifts, new visions for ministry - expanded congregational outreach, new efforts in Christian education, worship social ministry, new mission congregations in our synod and increase support for global mission and the ELCA World Hunger Appeal, etc.

Challenge the thought "the best way to kill a church is to give it an endowment." A mission driven endowment is one of the best ways to bring a new life to a congregation!

A "top ten" list by Loren Mead celebrates endowment:

1. Endowments proclaim - somebody trusts the church.
2. Endowments move us toward total stewardship - beyond the checkbook.
3. Endowments challenge us to plan how we will use accumulated assets.
4. Endowments awaken us to the right of wealth.
5. Endowments sometimes preserve the possibility of ministry.
6. Endowments open doors to wider mission opportunities.
7. Endowments may help us through our current period of non-growth.
8. Endowments feed the grass roots, the pioneering spirit of local initiative for mission.
9. Endowments put us in touch with the spiritual problem of our nation and society B how to be a rich Christian.
10. Endowments challenge us to the vocation of being a faithful steward of all gifts.

Mission driven endowment - mission centered assets in our immediate families and in our church family - is a response to the Scriptural call:

"Think of us in this way, as servants of Christ, and stewards of God's mysteries."
I Corinthians 4:1

Picking Up the Pieces

After the funeral, the two surviving children went to work sorting through the papers of their deceased father, trying to get a handle on his financial situation. They discovered three things:

1. Their dad, a retired human services worker, had accumulated remarkable wealth through conservative investments and frugal living;
2. Their dad had been generously supporting several ministries;
3. Their dad had left behind no will or other instructions to guide them in the distribution of his estate.

Faced with this situation, the children decided to give part of whatever portion of his estate they might receive to those organizations their father had supported during his life. They had to make assumptions about which organizations to help, how much he would have wanted to give and in what proportions. Not knowing his wishes made a tough time tougher.

This is just one of several thorny issues the surviving family faces when a loved one dies without a will. In the midst of sorrow and time pressures, difficult decisions must be made. How much better it would have been had the father taken the time to create a will. Indeed, having an up to date and valid will is one of the greatest gifts any father, mother or sibling can give family members.

To help you further consider this important area, request a complimentary Will Kit that contains helpful information regarding wills and other estate planning documents. For your personal and no-obligation copy, call Lutheran Planned Giving - Ohio Director Joyce "JP" Palmer, 614-235-4953. You can also request your Will Kit by sending a message from the Home Page.

A Quiz About Wills

The following True or False quiz will help you measure how much you know – or do not know – about having a will. To see how you did, see the answers section.

True or False

__ 1. Most states will honor a handwritten will as long as an attorney has signed it.

__ 2. A married couple only needs to have one will.

__ 3. If a person dies without a will, the state automatically takes one-half of the estate for probate fees.

__ 4. It is illegal to open and read a deceased person’s will until after the funeral.

__ 5. A "codicil" is the stamped impression that makes a will valid.

All of the answers are false. 1. While some states may recognize a handwritten will, no state requires that a will be signed by an attorney. 2. Each partner in the marriage should have his or her own will. 3. While it is true that the state, in the absence of a valid will, dictates the disposition of the estate, it certainly does not automatically receive half the amount…However, if you die with no will, there may be a large increase in probate costs. 4. A will can be opened and read anytime after death, or earlier with appropriate permission. 5. A "codicil" is an addendum added later to a previously prepared will.

To learn more about wills and other estate planning matters, request your free Will Information Kit. You can request your kit by sending our office a message. Return to the Home Page and click on the General Information electronic mail address to make your request. Or call Joyce "JP" Palmer, Lutheran Planned Giving - Ohio / ELCA Foundation at 614-235-4953.

Your Will and Missing Words

As you read this little ________ please fill in the ________ by using the in the list below. Thank ________.

Even though most ________ know that a will is ________, a surprising number die ________ (without a will). When this happens, the ________ steps in and dictates where the estate ________ will go. A probate judge determines who will act as your personal representative (________) and the person who will be the ________ for any dependents you may have. And, without a ________, you will not be able to make a ________ to your church or other charitable ministries/organizations you care about nor will you be able to minimize any possible estate ________.

We encourage you to find a good estate ________ attorney for advice and preparation of the documents you need. Getting a valid will takes a little ________ and effort. The result will be ________ of mind, not only for you, but also for your loved ones.

So, do not ________. Make an appointment ________. And remember, not having a will is a blank only you can ________.

To receive your free Will & Trust Workbook, contact Joyce “JP” Palmer for planned __________ information. You can reach her by calling Phone # 614 435 4953. Or return to the Home Page and click on the General Information electronic mail address to send a message to make your request.

Word List: Choose the correct word from this list.
bequest peace state people giving planning
taxes you article guardian fill Executor/Executrix
intestate time important procrastinate words assets
will today blanks

Answers: Correct words in order of use – article, blanks, words, you, people, important, intestate, state, assets, executor/executrix,guardian, will, bequest, taxes, planning, time, peace, procrastinate, today, fill, giving.

You Can Make a Gift to Ministry & Receive Income for Life

How can something you give away provide you a guaranteed regular fixed income for life? That is just what an ELCA Charitable Gift Annuity can do for ministry, and for you.

When you make a gift to ELCA ministries in the form of a gift annuity through the ELCA Foundation, the Foundation invests the cash or securities, then pays you a fixed dollar amount during your lifetime - and if you wish, that of another person. When death occurs, your gift is given to the designated ministries (you may designate more than one ministry, e.g., congregation, Lutheran Social Services, church camp or any charity, e.g., the library).

Through the charitable gift annuity, you will:

How much must you give to establish a charitable gift annuity for ELCA ministries? A minimum gift is $1,000. There is no maximum.

To receive a personalized analysis of how a gift annuity can benefit both you and ministries, simply contact Joyce “JP” Palmer at 614 235 4953, or send your request to 1555 South James Road, Columbus, OH 43227-3405. Please include for a one-life charitable gift annuity your name, address, city/zip, birth date, an amount ($20,000, $10,000, $5,000, $1,000) and the payout frequency (annually, semi-annually, quarterly, monthly) or two-life charitable gift annuity both names and birth dates with mailing address. There is no cost or obligation.

Till Death Do Us Part

A charitable gift annuity involves a lifelong commitment. Once you sign the document and transfer cash or marketable securities to the ELCA Foundation, you will receive fixed payments for the rest of your life "till death do us part."

Consider the example of 78-year-old Anna Rosen. She makes a gift of $25,000 and obtains a charitable gift annuity of that value. Because of her age, the payment rate is 7.8%, this may be better than she might receive from a certificate of deposit.

Besides a lifetime of generous quarterly payments, Anna will also receive:

A charitable gift annuity may be obtained for any amount of $1,000 or more. When established with appreciated securities, the donor may obtain a partial bypass of the capital gains tax. Annuity payments can be made annually, semiannually, quarterly or, sometimes, monthly. Payments may run for one lifetime or two. Gift annuities can be established for the benefit of others, such as elderly parents. They can be used to supplement retirement programs or given to a friend or loved one as "the gift that keeps on giving."

Doodle a Will

Your estate has a value of thousands of dollars. You and your spouse have two children who are both married, each with two children of their own. Your son is irresponsible and your daughter is "perfect." Both sets of grand kids are little angels. (If this scenario is too contrived for you, use your real-life situation.)

Ask yourself this question: How do I want my hypothetical thousands distributed at my death?

Pose the question to yourself when you are eating alone or taking a relaxed coffee break. Pull out your pen and reach for your paper napkin. Start doodling. How much to family? How much to church and charities? Any bequests to friends? Doodle away.

You can wad it up and toss it away afterwards, but the little exercise will get your juices flowing. And, it may help you get past any apprehension you now have about doing an official will. It might also lead to a revision of a will you already have in place. Major decisions often start with a few marks on a paper napkin.

Doodling an informal will encourages you to think through family issues, such as parental responsibility, individual needs, lifestyle choices, potential use and personal initiative. Doodling leads to the who, the why and the how much of wealth disbursement.

Should you leave all of your estate to your family? Will you include a bequest to the church? Will your gift be unrestricted to use where needed most? Will you give a set amount or a percentage of your estate?

Who will you appoint as your personal representative to handle the probating of your estate? And, if you have minor children, who will be the guardian(s)?

Doodling opens up all sorts of interesting thoughts? And questions. In fact, your casual doodling may lead to discussions with your spouse or family members. It may prompt a meeting with your attorney or other estate planning advisors. It may even lead you to call the Lutheran Planned Giving - Ohio office.

Making a will is a serious and important matter. It may be the most important document you ever sign. In fact, it is so daunting for some that it never gets done. Perhaps a little doodling is a good idea...and an act of faith.

"Think of us in this way, as servants of Christ and stewards of God's mysteries."
 I Corinthians 4:1

Give and You Shall Receive

Yes, that's the way it works with a charitable gift annuity. You not only receive the satisfaction of helping to further the mission of your congregation, social service agency, LOMO, campus ministry, Trinity Seminary or university, you receive annuity payments for the rest of your life.

Example: Mike and Sue Young are 77 and 75 years old. They give $10,000 for a two-life charitable gift annuity. Assuming an annuity rate of 6.6 percent, they will receive $660 every year for the rest of their lives. Even after one of them dies, the remaining spouse will continue to receive the payments. They will receive a charitable income tax deduction, if they itemize, and a substantial portion of each payment will be tax free.

Example: Ruth Solomon is 72, contributes $20,000 cash (matured CD earning 2.7%) for a gift annuity. She will receive during each full year for the balance of her life $20,000 x 6.9 percent = $1,380.

You may want to explore the benefits of how a gift annuity for another person, perhaps your mother whom you support, could have an increased income stream. Would there be a charitable income tax deduction available for you?

Fixed payments, income tax deductions for itemizers, partial bypass of capital gains tax, possible reduction in estate taxes B these and other benefits make a charitable gift annuity a prudent option for many people.

Would you like to learn more about charitable gift annuities? We can provide you an illustration showing you how a gift annuity can work for you. Simply contact Joyce “JP” Palmer at 614 235 4953, or send your request to 1555 South James Road, Columbus, OH 43227-3405. Please include for a one-life charitable gift annuity your name, address, city/zip, birth date, an amount ($20,000, $10,000, $5,000, $1,000) and the payout frequency (annually, semi-annually, quarterly, monthly) or two-life charitable gift annuity both names and birth dates with mailing address. There is no cost or obligation.

In Trust

The scouts have a motto: "be prepared." In times of uncertainty, that is not a bad motto for all of us to heed. We certainly have been reminded by recent events of our vulnerability and mortality.

We need to be prepared for many contingencies these days, but for estate planning purposes, you need to take the following actions now:

By now, you should have already checked with your attorney as to the affect the new estate tax laws will have on the taxability of your estate and, accordingly, revised your plan. With all of the phase-in and phase-outs scheduled to take place over the next 10 years, if you have or expect to have an estate exceeding one million dollars, it is imperative that you annually review your plan.

You can also help ministry "be prepared" for the uncertain times ahead by including ministry as a part of your plan. Please call on Joyce "JP" Palmer, Director of Lutheran Planning Giving - Ohio to help you with your charitable planning process, she may be contacted at 614-235-4953 or 614-496-9186; e-mail: jcpalmer49@aol.com; 1555 South James Road, Columbus OH 43227-3405.

Copyright © 2002-03 Lutheran Planned Giving - Ohio
Last modified: 04/17/03