Paying It Forward – Part Three
by David Mickley
The thoughts of the diligent tend only to plenty; but the thoughts of everyone who is hasty only to poverty. Proverbs 21:5
In the last two articles (1, 2) we discussed our stewardship responsibilities, the importance of our ELCA Endowment Pooled Trust and ways that you can plan a gift. Here are some ways for you to take action.
- Pray for guidance as you decide on your bequest.
- Obtain legal and financial advice so as to assure that your gift will be carried out and that you and your estate can gain maximum advantage. Remember there can be living benefits for you as well if proper planning is done.
- Speak to a member of our finance committee if you need assistance. They are: Pastor Keith, David Mickley, Brett Sengbusch, Gus Dueben, Marilou Nemeth and David Supplee.
The following may be helpful when you meet with your attorney to make a bequest through your will:
"I give, devise and bequeath to LUTHERAN CHURCH OF THE GOOD SHEPHERD, SEMINOLE, FL __% of my estate to be used in carrying out the church's objectives and purposes."
Giving a lifetime income to a loved one in a will:
" I give, devise and bequeath to LUTHERAN CHURCH OF THE GOOD SHEPHERD, SEMINOLE, FL, the sum of $_______________(or property) subject to the following:
„_____________________shall pay a monthly life income or life annuity to _______________________for as long as (he or she) shall live.‟
„_____________________shall pay an amount equal to the gift annuity rate recommended by the American Council on Gift Annuities for the person(s) named as beneficiary(ies) who has attained age_________at my death. Should the said______________________________die before my estate is distributed, the amount designated to provide this income will go to LUTHERAN CHURCH OF THE GOOD SHEPHERD, SEMINOLE, FL absolutely and shall be used by the church council leadership to carry out the church's objectives and purposes.‟
Naming a residual beneficiary:
"All the residue of my estate, including real and personal property I give, devise, and bequeath to LUTHERAN CHURCH OF THE GOOD SHEPHERD, SEMINOLE, FL.‟
If you wish to let the church know your intentions, we can honor you and express gratitude while you are still around to enjoy it!
More information to follow next month……
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