 |
FOUNDATION NEWS Caring for the Ministry of Grace: "Ecclesia Perpetua" November 2005 | |||||
|
| |||||
|
Preparing a will is not a one-time event. It is not something you do once and then you are done forever. It is more like a journey. We need to review our wills or other estate plans on a regular basis, and most recommend doing so every three to five years. Why in the world would we need to do that? you ask. Because the tax laws are constantly changing. I am sure that you have all read that the federal estate tax exemption is increasing. This year it stands at $1.5 million. It will increase until 2010 when there will be no tax for one year. Then it will revert to $1 million unless Congress acts (which it is expected to do). In addition, our lives are constantly changing. Do you |
have new family members? Have you lost a friend or family member that was mentioned in the will? Has your marital status changed? With a well-prepared will, it is possible to anticipate some changes in our lives. However, tax changes are impossible to predict. So remember to review your will every 3-5 years. And when you review your plan, review what you have given to the Lord's work. Have you given a final tithe to the ministry or ministries of your choice? If you would like help making a gift to ministry with the least tax consequences please contact Patricia Larsen at 503-244-4102 or email: Blessed2Give@cs.com. | |||||
|
In the congregational meeting that authorized the purchase of this house, the congregation voted that the foundation should acquire the property and manage it until the annuity was complete, at which time the property would be given to the church. The donor, who wished to remain anonymous, has since passed away. In compliance with the original motion, the property was transferred to the church. The property should provide the congregation with a small rental income after management and maintenances costs. It will also guarantee that the property is available to the church for future uses. The church already owns the middle house on Tyler, Little Grace #2, and there is hope that the remaining house, Little Grace #3, will become available for purchase at some point in the future. If anyone has questions about charitable gift annuities please feel free to contact any of the Grace Foundation Board members or Patricia Larsen, Director of the Synod Planned Giving at 503-244-4102. | ||||||
| |||||||||||||||||||
| |||||||||||||||||||
| |||||||||||||||||||