Tuesday, May 27, 2014

Stewardship Truths #5

A 12 part series discussing stewardship.

By: Barry G. Allen


Learn to exchange what you cannot keep for what you cannot lose.

Matthew 6:19 – 21, Jesus said, “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal; But store up for yourselves treasurers in heaven, where moth and rust do not destroy, and where thieves do not break in and steal; For where you treasure is, there will your heart be also.”

Notice Jesus did not say your heart should or should not be where your treasure is. He stated the plain fact: wherever you find your treasure, that is where you will find your heart also.

Jesus understood the grip materialism would have in our lives.

Thursday, May 22, 2014

Documenting Your Plan

By: Laurie Valentine- COO & Trust Counsel

Christian estate planning is about stewardship---making decisions and putting in place documents that most effectively and efficiently accomplish God’s plans for your possessions.

When it comes to planning for passing assets at death, good estate stewardship requires that you put in place a written plan---a Will or Will and Revocable Living Trust.

If you have not made a Will, state law determines how your individually-owned assets will pass at your death. The state’s “Will” may direct distribution of your assets in a way that doesn’t meet your family’s needs or to persons with whom you would not want to share your estate. And, all distributions under the state’s plan will be outright to the designated beneficiaries---no matter their age and/or capacity to manage what is coming to them. Also, using the state’s “Will”, rather than writing your own, may result in more cost to administer and pass your assets at your death; thereby leaving less for your family.

Planning for possible future incapacity requires giving those you want to act for you written authorization to do that. Powers of Attorney and health care advanced directives are the “written plans” you can use to accomplish that part of your planning.

A Power of Attorney can include financial management authority such as the power to use your cash, investments, real estate and business interests for your benefit and sign tax returns and deal with tax matters for you. Personal decision-making authority such as the power to obtain private health information and make healthcare decisions for you can also be included.

A Living Will Directive allows you to put down in writing your wishes regarding when/if you want life prolonging medical treatment withheld or withdrawn.

And, to assure your plan will continue to accomplish God’s purposes for your possessions make sure to keep it up to date by reviewing it every few years and also any time there are changes in your situation or that of your family (marriages, births, deaths, etc.).

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.



Tuesday, May 20, 2014

Memorial Gifts

By: Barry G. Allen- President & CEO

Gifts made in memory of someone are among the most personal of expressions and ones that occur most often in the context of very emotional circumstances. Those who make memorial gifts are people who have given considerable thought to their decision to make those gifts. They are sensitive, thoughtful, caring people who want to make a meaningful donation in honor of someone special, like a spouse, a child, a sibling, a parent, a friend, a teacher, a minister, or other loved ones who have predeceased them.

A memorial gift is a way for you to establish a legacy in memory of that special one, and, at the same time, provide financial resources to one or more charitable organizations for the effective fulfillment of their missions.

As you approach Memorial Day, I encourage you prayerfully to consider making a memorial gift in honor of someone who was special in your life. Consider the focus of your gift to be a living memorial to further the mission of Christ through their church and one or more of the organizations with which that special person has been affiliated.

Give Laurie Valentine and me the privilege of assisting you in your consideration. There are a variety of tax-wise giving methods available to you. In addition to cash gifts, gifts of appreciated securities and real estate have specific tax advantages. You may have a cash value life insurance policy, the original purpose for which you purchased it no longer exits. Gifts of life insurance provide an excellent way to make a memorial gift and to receive a tax benefit. A beneficiary designation of a retirement account also offers some important tax advantages. A charitable gift annuity, charitable remainder trust and a bequest in your will also are ways to accomplish memorial gifts at your death.

Happy Memorial Day!

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Thursday, May 15, 2014

Twelve Steps For Christian Estate Planning- Step #5

By: Laurie Valentine- COO & Trust Counsel

A Christian estate plan is one you develop by determining how God wants you to: (1) provide for your family and other “dependents” at your death and (2) have your finances managed and decisions made for you if you became incapacitated and no longer able to do those things for yourself.

Step #5 Make Provision for Each Intended Beneficiary. Efficient and effective distribution of assets at death, a key element of Christian estate planning, requires making provision for each and every beneficiary with whom you intend to share your estate.

Leaving everything to one beneficiary with the hope/expectation he or she knows what you want and will share your estate with your other intended beneficiaries is not a good idea. Legally, the named beneficiary has exclusive rights and full ownership over anything left to him/her.

Even if your named beneficiary has every intention of carrying out your wishes, he or she could be in a situation at your death that prevents them from giving away what they inherit from you.

Unintended gift tax liability can also result from the “inheritor” giving away too much, all at once, to the others with whom you wanted you assets shared.

Next Month-Step #6 Name a Guardian for Minor Children. 
 
For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Tuesday, May 6, 2014

Helping Children in Crisis Shine

By: Barry G. Allen- President & CEO

Regretfully, there are thousands of children across the Commonwealth of Kentucky who are abused and neglected on a daily basis. It is estimated to be 7,000 per year. They suffer 24/7 from physical, sexual and emotional abuse. We wish these tragic circumstances would go away, but they do not. In fact, they are escalating resulting in the continued disintegration of families.

Fortunately, we Kentucky Baptists have a solution which includes providing these children a safe place to stay in the care of people who love them and give them hope, which in turn results in healing and the opportunity to mature and live fulfilled lives as adults toward a brighter future. Currently Sunrise cares for more than 2,000 of these children in crisis each year through its comprehensive scope of services.

Sunrise Children’s Services is the oldest Southern Baptist related children’s ministry dating back to its beginning in 1869 when the women of Louisville’s Walnut Street Baptist Church stepped out to do “more for Christ” and opened up a shelter for children left orphaned by the Civil War. It is the only agency of its kind in Kentucky that provides a comprehensive, continuum of care.

So many things have changed in the generations since 1869, including the kind of care most children need today. In the 1800’s there was care for orphans; in the early 1900’s there was care for poverty stricken and abandoned children. Today we face challenges best met through foster homes and residential programs. What hasn’t changed is the mandate for us Kentucky Baptists to provide solutions to children who continue to suffer from abuse and neglect. This is no easy task, and it can be accomplished best by cooperation. Indeed, we can do “more for Christ” together than we can alone. So, let’s do it.

How can you plug into being a part of this Christ-honoring solution? First, include in your prayers interim president Dale Suttles, the staff and the volunteer board members who give leadership to this vital ministry. Second, be sure to make a generous contribution through your church or directly to the special SHINE emphasis on Mother’s Day. Third, call toll free 855.334.2273 for information about becoming a foster parent. Finally, call toll free Laurie Valentine or me about making this vital ministry to children a part of your legacy through your estate plan. We look forward to your call.

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.