Participants:
Series Code: TDY
Program Code: TDY190070A
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00:01 I want to spend my life
00:07 Mending broken people 00:12 I want to spend my life 00:18 Removing pain 00:23 Lord, let my words 00:30 Heal a heart that hurts 00:34 I want to spend my life 00:40 Mending broken people 00:45 I want to spend my life 00:51 Mending broken people 01:09 - Hello and welcome to another 3ABN Today 01:12 program. We are so glad that you have joined us 01:15 today as you do each and every day of the 01:17 year. We appreciate your prayers and financial 01:20 support for the ministry of 3ABN. And I have 01:23 to say, this is a little bit different. This is 01:26 Roy Hunt next to me. Usually, I have my beautiful 01:29 wife- not saying you're not beautiful or handsome, 01:31 Roy... - What are you saying that...? [laughter] 01:33 - I'm saying I'm so used to having my dear wife 01:35 next to me. This is great, though, having 01:37 you with me today here on the set. You are the 01:40 director of planned giving and trust services 01:41 here at 3ABN. It's a blessing to have you 01:44 co-hosting with me. And I want to introduce, 01:46 also, our guest-but it's really family, right, 01:49 Roy? - Absolutely. - Yeah. And this is Jason Bergmann. 01:51 You're our CFO and in charge of all the finances 01:54 in the faith-based ministry, and it's neat to see how 01:57 God supplies the need of the ministry of 3ABN, 02:00 but it's a blessing to have you and your wife here 02:02 at 3ABN. Roy, I want to mention your wife, 02:05 too, Earlenne. - Yes. - And she is your assistant. 02:07 - She is the trust officer and office manager. She 02:12 keeps me straight. [laughter] You know. The woman 02:16 usually is detailed, and any details I have 02:19 missed, she catches me on it. So, we need that 02:23 in our department. - Yeah, you know, and Jill, 02:25 too; she-my wife-she is so detailed, and it's a 02:27 blessing. That's why, I mean, she's usually 02:29 sitting right next to me and kinda keeps me straight. 02:31 So Roy, you're gonna have to keep me straight 02:33 today. - Oh, that's tough. - Oh, I know. 02:35 Jason, you're gonna have to help us out. [laughter] 02:37 But today, we're really looking at this as kind of 02:40 as a I wanna say maybe a roundtable. We're all- 02:42 you're not really a guest; we're just 02:43 here as family, discussing planned giving and trust 02:45 stewardship, the joy of giving... And I think 02:49 today-'cause I'm kinda the newbie in this; these 02:52 guys are the professionals- and for me, I'm gonna 02:55 be asking some of the questions that maybe 02:56 you might have at home: "What is planned giving & 02:59 trust services?" Roy, why is it important? 03:03 - You know, it's appropriate to say "family", that we're 03:06 family here at 3ABN because so much of what 03:09 we talk about is family- oriented. The importance 03:13 of doing... What is planned giving? Our department 03:17 handles the wills, the trust, and that's something 03:23 that everybody should have. - That's true. 03:25 - Even you, Greg. - Yes. - You're a young person. 03:28 - I'm in my 40s. Yeah, you think, "Oh, I'm 03:30 invincible." - That's right. Invincible' s a 03:32 good word, because so ma-especially us males. 03:36 - That's right. - This program is kinda geared 03:38 toward the male side of the family. We think 03:42 we're invincible, nothing's gonna happen to us... 03:44 - Kinda the macho type thing. - The macho. And 03:47 when they hear the word, "will" or "trust"-when 03:50 we hear that-they think, "Ah, we don't need it." 03:53 And if I do, one of the biggest myths in planned 03:56 giving is, "I'm gonna die as quick as I do the 04:00 document." And that's not true! - And I think 04:03 sometimes, people are afraid to even talk about 04:05 the reality of life, and that is that what 04:07 happens when I die. Those are some hard 04:09 questions to ask ourselves. And you know, I appreciate 04:13 you mention even someone- I consider myself a 04:15 young person. I'm not saying you guys are 04:18 old persons, but...we all have to face the 04:21 reality of life. - That's #2 today. - #2 today?! [laughter] 04:26 So, we don't know about tomorrow. What we do 04:29 know is that we have today. And we also 04:31 wanted to say a thank-you to you, our family, our 04:34 friends... And that is for those of you that 04:37 have written documents with 3ABN. That is blessing 04:40 the ministry of 3ABN. You know, for those 04:43 that have written them in the past, and, you 04:45 know, they've gone to rest in Jesus-you know, 04:48 those funds-have come to continue the work 04:51 here at 3ABN... And I like this scripture; 04:54 I wrote it down here- Revelation 14:13- 04:57 and it talks about, basically, people going 05:00 to rest in Jesus. But then it says, "And their 05:03 works do follow them." And I think that's a 05:06 beautiful thing, because you can be asleep in 05:09 Jesus-you don't know what's happening, you're 05:11 waiting for His soon return-but then whatever 05:14 you have put in planned giving & trust services, 05:17 Roy, is furthering the gospel. - That's right. 05:20 - To think here at 3ABN, Jason, you see the bills 05:22 that come in, you see the donations that come 05:25 in, but then you see the documents that 05:27 have matured coming in and how it helps the 05:29 ministry. - You know, what I also like, too, 05:31 about what we do is we provide some tools for 05:34 people to plan while they're alive. And that's 05:38 awesome, because you know either you plan 05:40 for it, or the IRS will plan for it after you 05:43 die. - Or the state. - Or the state, so- 05:46 and mainly the state. But I'd rather have 05:49 myself plan how my legacy's gonna take 05:54 these funds that the Lord has blessed... 05:57 - That's a good point. - ...onto the next 05:59 generation. - Mhm. - Or the ministries, you know. 06:02 You know, we are stewards for the Lord, and I 06:05 think we're a steward of time and what we have 06:09 for the future, as well. - Mm, that's good. 06:12 - I've heard many people say-they make a statement- 06:17 they say, "Why should I plan? I'm gonna be dead. 06:22 I don't care what happens to my estate." And if you 06:25 have a family, family is always a major portion 06:29 of your estate planning. - That's good. - And to 06:32 have the family in your plan to receive part of 06:38 your estate is something very special to your 06:41 family. - Yeah. And I appreciate that. I think 06:44 family is important, and you kind of have 06:45 that as one of your mottos - a well-planned 06:46 estate, your best gift to God and family...and 06:50 that's really good. - Absolutely. So, if 06:52 you don't plan, the state usually enters 06:57 into it, the judge enters into it...and he makes 07:01 the decisions. - Yeah. - And you have that 07:04 choice during life that you can make decisions. 07:06 - So this is a good opportunity now, 07:08 while we're alive, while our mind is, you know, 07:11 in a good state to start making decisions that 07:14 will benefit those organizations like 07:18 3ABN that you may be interested in, those 07:21 ministries that will grow the kingdom of 07:24 God. - Amen! And then you can think of your 07:26 family, as well. - That's right! And the family is 07:27 super important, because that family that you 07:31 grew up with and that you've built relationships 07:34 with... - That you've raised. - Right-yeah. 07:36 I mean, that is all part of being a good steward 07:39 and keeping the legacy on and helping family 07:42 and the ministry, and the Lord's blessing a part 07:46 of that. - So what we plan to do today, Lord 07:49 willing, is to actually answer some of those 07:51 questions. We wanna talk about stewardship, 07:53 as well. But before we get in-depth a little 07:57 bit more, let's go to some music. I know 07:58 we appreciate music here at 3ABN, and we 08:00 know that you do, too. We have Moses Brown 08:03 with us today, and his wife is at the piano. 08:06 They're gonna be playing and singing a beautiful 08:08 song, "It Is Well With My Soul". 08:25 When peace like a river attendeth my way 08:36 When sorrows like sea billows roll 08:46 Whatever my lot, Thou hast taught me to say 08:55 It is well, it is well with my soul 09:06 It is well 09:11 With my soul 09:15 Oh, it is well; it is well with my soul 09:27 O Lord, haste the day when Thy faith shall be sight 09:37 And the clouds be rolled back as a stroll 09:46 And the trump shall sound and the Lord shall descend 09:55 Even so, it was well with my soul 10:05 Is it well with your soul 10:14 Is it well, is it well with your soul 10:25 It is well with my soul...yes, it is 10:35 It is well, it is well with 10:45 My soul, my soul, my soul 11:01 - Thank you, Moses Brown, and your dear wife Jeanette 11:04 playing the piano: "It Is Well With My Soul". 11:07 And I'm thinking, Roy, that fits as you think 11:09 about today's topic. It's planned giving, trust 11:12 services... When you plan, there's a sense of 11:16 peace that also comes along with that. So, 11:19 "It Is Well With My Soul". Our confidence is not in 11:23 our money, our things, our property, or any 11:25 of that; it's in the Lord Jesus Christ. 11:27 - In the Lord. Yes. - In the Lord. That is the 11:29 key. But again, God's given us gifts in different 11:32 things here, different assets-whatever that 11:34 may be, as Danny always says, "What does God- 11:37 what has He given to you in YOUR hand?" 11:39 I don't know. YOU know what's in your hand. 11:41 But today, we're talking about planned giving, 11:43 trust services, and how it can be used for the 11:45 Lord's work. - You know, our theme today is the 11:48 joy of giving. - I like that, Roy. - We should 11:52 be joyful. - And why is that? - About giving back 11:54 to the Lord. The Lord has provided for us, 11:58 we're joyful for what He has done for us, 12:00 and we're gonna give something back to Him. 12:02 - Yeah. - And one point I wanted to make: 12:05 part of the joy of doing any documents-we'll 12:08 get into that later- but is you actually live 12:11 longer. - Really? - Really. - Wow. - And I mention 12:15 the myth of dying when you do a document. 12:17 Statistics state that you live longer-another 12:22 seven years longer. - Wow. - Because you 12:24 have everything planned and you don't have any 12:27 worries; you know what's gonna happen. - You know, 12:30 we should probably touch on stewardship, then- 12:31 talking about the joy of giving. - Yes. - Jason, 12:34 tell us-joy of giving, stewardship... I mean, 12:37 you've worked in the conference before you came 12:39 here to 3ABN... - Yep. - ...as our CFO-but the 12:42 joy of giving. Stewardship. - You know, I look at 12:44 stewardship as a way to connect with God. 12:48 When you look at stewardship, we are a steward of 12:52 everything that's God's and when we have that 12:56 mind frame that what we have is really not for 13:00 us but is to glorify God with those resources 13:04 that He has given to us. And it's really nice 13:07 to know that He entrusts us with those resources 13:10 that are His but for our use to share with 13:14 others. - I like that. You said, "It's His." 13:17 - It's His. It's ALL His. - Yeah. Everything. 13:20 - We tend to think that this is ours: "My car 13:25 is mine." And yes, in a sense, it is, but when 13:29 you look at the big picture and you look 13:30 at how the Lord has blessed us, really, 13:34 everything is the Lord's. What we do, the intellectual 13:39 property that the Lord has given us, that's all 13:41 His! - So, our talents. - All our talents. What 13:44 we do with our time, what we do with the 13:49 information that He gives us-all these things 13:52 are really all His, but He's given that to us 13:56 so we may share the good news and show 14:00 that we have a relationship with Jesus. - Wow. Yeah. 14:05 I agree with that 100%. You know, I think sometimes, 14:07 Roy, we can kinda get into like, "Okay, this is 14:09 all mine." What about someone that, at home- 14:12 'cause- that may say, "Oh, you know, I don't 14:14 really have that much stuff," as in, things. 14:17 - Okay! So that's- you know, we... - I still need 14:22 to be a good steward of... - Correct. - ...whatever I have. 14:24 You know, I think each of us can assess our 14:27 own lives and see where we've been blessed. And 14:32 I can tell you, every one of us can say that 14:35 in one way or another, we are blessed, and those 14:38 gifts that God has given us-and we've been all 14:41 given some type of gift- but to share that gift 14:45 with others is what the Lord wants us to do. 14:47 Now, it could be with our talent, like you said. 14:51 It could be with some of of our resources that 14:53 He's given to us. Or, someone that really 14:56 knows how to share Jesus with others...do it! It's 15:00 your gift that God has given, and that's what 15:03 stewardship is about is returning back to 15:06 the Lord, and it's that relationship that we 15:09 have with the Lord in how we give and what 15:12 we give and where we give that makes a big 15:15 difference. - Mhm. - Yeah. - As a steward. - Yeah. 15:18 That's true. So, as stewards, then- you 15:21 know, we're talking about planned giving and 15:22 trust and the joy... What if someone says, 15:25 "You know, I don't really have any joy 15:27 in giving. How do I get joy in giving?" 'Cause, 15:33 you know, I think innately we as human 15:36 beings, we kinda... Well, we don't have- 15:37 we DO have the tendency to be selfish. - Right. 15:42 - You know. As a baby, and I'm crying and 15:43 wanting this and that, and as adults I think 15:45 sometimes we can be selfish. So how do you 15:48 get joy? - So, you know, I look at that as to find 15:55 joy is to give to others. And if you give to a 16:00 young person and you give them a gift, what 16:03 is their facial expressions gonna be? You know, 16:06 are they gonna be frowning when they get 16:08 something? When someone- you know, when I give 16:10 something to my wife that she is not aware 16:12 of, she gets excited! So, I think a gift is 16:17 something that you don't have to pay back; it's 16:20 something that you give out of your heart and 16:23 you give up, and you wanna share that joy. 16:27 Just like, you know, in the Bible there are so 16:30 many stories where they were happy and they gave. 16:34 You know, just after Pentecost, these disciples 16:37 and the people were all connected. They were giving 16:41 and sharing, and of one mind. And because 16:45 they realize that this is a family-oriented kind 16:50 of situation... When we get to heaven, we're 16:52 gonna be sharing everything the Lord has given us. 16:55 Why don't we do it now? And I think, yeah, we 16:58 do get selfish. You know, we have this mind frame, 17:01 "Well, you know, I need it because I 17:03 need to do this or that," but I've seen in my life 17:06 when I give something to someone, they're 17:09 happy; they feel like they are important. 17:12 - True. - And I think that's what's... That's 17:15 how we build relationships. We do things to others 17:18 to uplift them, to grow them, to share Jesus. 17:24 That's what being part of the children of God is 17:29 all about, and stewardship is one of the most 17:32 powerful instruments that each of us have... 17:35 whether it's, like I said, our talents, 17:38 those things that the Lord has given us for 17:40 this purpose. - When you give to ministry, 17:43 you're not giving to one person; you're 17:46 giving to millions of people around the world. 17:49 - People you will never meet. - Never meet. 17:51 - So, yeah! - That's a good point. - Absolutely. 17:54 When you give to 3ABN, for instance, we focus 17:57 on ministry and sharing the good news and giving 18:01 quality programming around the world. There's not 18:06 a lot of companies or organizations that have 18:09 that opportunity that we have. We are a 18:13 steward of this information. And when you give to 18:15 us in your resources, whether it's your time 18:18 or your money, we share that with thousands and 18:23 millions of people. I mean, that is stretching 18:26 that dollar or $10 or $100 or $10,000 or 18:29 $100,000 to a point where it is hard to 18:34 understand how far that money goes. - That's true. 18:39 Now, I think about purpose. Yeah, that's 18:41 a huge thing, 'cause, you know, when there's 18:43 purpose, Roy, that's us- 'cause, you know, people 18:45 don't just give money out there; there's 18:46 usually something. They either love something, 18:48 like something, wanna see a goal accomplished... 18:51 - That's right. - So as I think about those 18:53 through the years that have put money into 18:55 donation or planned giving and trust service department, 18:58 which is really 3ABN, their purpose is souls, 19:03 right? - Absolutely. - And these, as we 19:05 had just talked about a couple minutes ago, 19:06 are people that never met-you will never 19:09 meet. Somewhere around the world, but yet is 19:11 making a difference in their life. What a 19:13 tremendous purpose. - People that are viewers 19:17 right now, listeners on our radio, they are 19:22 looking for something. They have found something 19:25 in our ministry. They like what they hear. 19:28 They're receiving joy from our ministry. So, 19:32 you can continue that joy by getting into 19:37 the giving spirit. And planning your estate 19:40 is something that you can do to give. When you 19:44 have that in mind when you're doing it 19:47 and not thinking, "Oh, I've gotta do this; 19:49 I've gotta do it," it's something that should be 19:52 joyful. - Yeah, that's good. - And you know, 19:53 I also see it as a partnership. You know, when we partner 19:57 with the Lord, with 3ABN, we're partnering 20:01 with people and an organization that has 20:05 the right motives and purpose, and that is 20:08 to build the Kingdom of God as we talk today. 20:11 - That's good. So what's the difference, then- 20:13 okay, 'cause we receive donations in, Jason, 20:14 on a daily basis. - Correct. - here at 3ABN. What's 20:18 the difference between someone giving a donation- 20:20 'cause someone at home may say, "Okay, I send 20:21 my monthly, or my weekly- we know-donation to 20:24 3ABN." What's the difference between planned giving 20:27 and trust services, and me giving a donation? 20:29 - You know, that's a really good question. 20:31 I see that as two different areas. I see one is more 20:35 of a short-term, a now situation, versus-and 20:39 that is giving on a monthly basis-to giving in a 20:45 trust or a CRT- something that's more 20:48 long-term. - Okay. - And trust is usually some- 20:52 these are instruments that help us as we get 20:55 older, as we see our resources, and we 20:59 decide that this is something that I want 21:02 to use in order to fulfill some of my dreams and 21:06 my goals and objectives, while alive but also 21:11 after I pass away. - Okay. So in other 21:15 words, I could actually still continue to be a 21:16 monthly donor but have, as you call them, 21:19 documents set up. Is that right? - Right. 21:21 - It's not one or the other. - That's right! 21:22 - Or... Okay. - You can do both! - Yep. Okay. 21:24 - And I get this question asked to me all the 21:26 time. I say, "How do we impact 3ABN right 21:30 now?" - Oh, wow. - And I say, "While I'm alive." 21:35 The only way you can affect that right now 21:38 is give a donation, right now. If you're 21:44 looking to do a trust, we encourage that. 21:46 That is our long-term planning for Three Angels 21:49 Broadcasting. - That's right. - Because we 21:51 never know when that trust or will is going 21:55 to mature, and the money comes from that. 21:58 So the Lord knows in the future. And when we 22:03 need money, the Lord says, "There's money 22:06 coming." I call it "just-in-time financing", because the 22:11 Lord knows it's gonna be here just in time. 22:14 - That's right. - And you know, I see stewardship 22:17 as a multitier system in what we provide 22:22 here at 3ABN in our stewardship options. 22:25 We have many different options that we provide 22:28 our viewers. And if you're interested, 22:32 Roy is happy to share those type of instruments 22:35 and to help with our stewardship plan, 22:39 whether it be right now or whether it be 22:42 sometime in the future. - Yeah, I agree. Roy, 22:44 you have a great staff: you and your wife, 22:46 of course, and then you have a wonderful 22:47 staff at planned giving and trust services that 22:50 make what could be kinda complicated simple. I've 22:54 got this nice little brochure, and I know 22:56 you have a lot of other resources, too, Roy, 22:58 that you can send out, and of course you're 23:00 happy to talk to anybody on the phone. I want 23:03 to ask you a question though, Roy, because 23:05 you... - Before you go to that question, let 23:07 me mention the brochure. - Yeah, good. - You can 23:09 go online at 3ABN.tv and there's gonna be 23:14 a tab called Planned Giving & Trust Services. 23:18 That brochure is online. - Oh, is it really? 23:21 - You can actually go through online and see 23:22 it. - That's right. - Okay. Yeah, that's 23:24 really good. - So, 3ABN.tv and look for the Planned 23:27 Giving tab. - Yeah, so right at the very top, 23:28 there's different tabs across the top of that 23:30 home page, and you can see Planned Giving. 23:32 - Planned Giving. - Amen. - All right. - That's good. 23:34 So, my question for you is you get a lot 23:38 of phone calls. What is the tone of the 23:41 people, if that may be a good word to describe 23:43 that, or... - Inquisitive. - Inquisitive that you 23:48 get as they call you and say, "Okay, I've 23:50 got this; what do you think?" Are a lot of 23:53 people excited, though, at the same time? 23:54 - They're excited; they're cautious. 23:56 When people are talking money, they're always 23:59 cautious...and we are here to provide information 24:02 and to assure them that anything that we do 24:05 here at Three Angels Broadcasting is done 24:09 according to government regulations... - That's 24:12 correct. - ...everything is done by IRS. There's 24:17 certain standards that we have to meet in 24:19 some of our documents that qualify us to offer 24:25 discounts. Not discounts- tax... - Deductions. 24:29 - Deductions. - Incentives. - Yes, incentives. 24:30 - Incentives for doing it, and the IRS allows 24:33 that for charities to do- ministries. - Yep. - And 24:37 this is one thing I appreciate, too, Roy, 24:38 and that is-you know, as far as your department- 24:40 that is it's not a pressure, like sales pitch. So 24:45 when you call, it's like, "Okay. I'm gonna be 24:47 pressured." No. - No. - And that's one thing: 24:49 that you guys have stood by to not do any type 24:51 of pressure; you're providing information. 24:53 So therefore, you can just call; just talk with 24:55 Roy, his wife Arlene, or the staff. - Our 24:57 philosophy is, we're here to provide the 25:00 information, and then once you receive the 25:04 information, it's between you and God to make that 25:07 decision. And once you make it, we're here 25:10 to facilitate. - And you know, this is a service 25:12 that is very important for part of the stewardship 25:17 plan. And what Roy does, and your team, is a great 25:22 option for our viewers to take part of and 25:26 partner not only with the Lord but with also 25:28 3ABN. - Mhm. - So... - You know, so, being 25:32 a good steward, you were mentioning as 25:33 far as me being a younger person-in my 40s-so 25:36 being a good steward would be also planning 25:38 for the future... - Yes. - What would you say 25:42 to someone like me? - I would say- and a 25:46 lot of younger people say, "We don't have 25:47 much yet," but you're building your estate. 25:51 And your estate is everything that you 25:54 own. - That's right. - Everything. That's 25:57 your house, your car, your bank accounts, 26:00 your stocks... Anything that you own is your 26:05 estate. So, what happens to that estate when you 26:10 pass away? Well, that's what we're talking 26:12 about. And even though we don't like to talk about 26:15 passing away, it's something that we have to talk 26:17 about and actually have fun planning. - That's 26:23 right. - You can actually have fun doing your 26:24 plan. - Really? You don't think about that. - You 26:27 don't think about it. - It seems like it's kind 26:28 of a tough topic. - And people will say, "Wow, we 26:31 didn't realize it was this easy." - Well, and 26:34 you know, you don't want to burden your 26:35 kids when you pass away; but if you have good 26:39 documents that are well-written, which 26:41 we provide, it just makes life easier for 26:45 all the family. - Mhm. - And it's like you said 26:49 in the beginning: it's peace of mind. So when 26:51 you have everything set up, documented well, 26:54 your estate goes smooth, your kids are not burdened, 26:58 and it's just- it's an experience that 27:01 the legacy lives on. - Mm. Yeah, that's good. 27:04 - And that's a very good point, because 27:06 we get calls. People are in a panic. They 27:10 might've been diagnosed with a serious illness. 27:13 - Oh, my. - And that's the worst time to start 27:17 planning. - That's a stressful time. - That's 27:19 a stressful time, knowing that you have something 27:22 that's serious, and you're trying to rush 27:26 around and do all the things that need to be 27:28 done to do-planned giving-and you don't 27:32 wait until that time! - You know, I look at 27:35 it as a... - That's called procrastination. 27:37 [chuckling] A lot of people will procrastinate. 27:39 - That's true. - Until they know they need it. 27:41 - Mhm. - But you know, I look at it as a back-up 27:44 plan. You know, when I'm in my job, I want 27:46 someone to learn my job, as well, so if I- 27:50 say I get hit by a bus, you know, tomorrow- 27:53 and I wasn't planning on it- but if someone knows 27:57 some of the things that I'm doing, the 27:58 transition is a lot easier. - Yes. - And 28:01 that's what trust documents will be able to assist, 28:04 or a will, or, you know, a CRT in planning for 28:08 the future that we don't know what the future 28:11 holds. But as long as we do our due diligence 28:13 and plan accordingly, you know, it just makes 28:16 life a little easier for everyone and 28:18 peace of mind. - We get calls from children, 28:20 wanting to know what Mom and Dad have done, 28:24 and we do a trust. That trust is private information, 28:28 unless the parents have talked to their family. 28:33 We encourage Mom and Dad to talk with the 28:37 family and let them know what they're doing. 28:39 Let the family be part of your plan. - That's 28:41 right. - Because when Mom and Dad are unable 28:44 to make decisions and the children don't know 28:48 what's happened, it really puts a lot of 28:51 pressure on the family. So, a part of your 28:54 planning is talking with your children and 28:57 letting them know what you're doing. - That's 28:59 right. - You know, and we should probably 29:00 actually, Roy, start to transition into some 29:01 of these documents, because you've been 29:03 throwing around- these are terms, you know, 29:04 that these gentlemen who do this all the time, 29:05 they know what all this means. What, CR... 29:08 What, CRUT? And SATs... Yeah. I'm like, oh, 29:12 my, my. You know, I know-... - Don't let 29:13 that scare you. - Yeah, that's right. So we want 29:15 to talk just briefly, kind of give you just 29:17 a quick summary and what these documents 29:19 mean. But again, you can always call the 29:20 Planned Giving & Trust Service office. Well, 29:23 you can see the phone number up now at the 29:24 bottom of the screen right now. Make sure 29:26 I have this right. (800) 886-4800. 29:30 - That is correct. - Okay. (800) 886-4800. 29:35 - You read very well. [laughter] - Thank you 29:37 very much. My mother taught me well; I was 29:40 homeschooled. So, thank you, Mom. [laughter] 29:42 Okay. So, let me just ask this question, and 29:44 then we'll go whatever document you want to 29:46 talk about first. - Okay. - But for someone- well, 29:49 I can hear someone at home right now saying, 29:50 "Okay. I'm gonna call 3ABN, I'm gonna call 29:52 this number, and I know they're not gonna pressure 29:55 me, but I need to probably put the majority of my 29:58 money or finances- it's required to 3ABN." Is 30:01 that a requirement to put 100%, 75%... 30:04 - It is not. - Yup. That's huge! - We like 100%, 30:09 but we encourage, especially people that 30:12 have children. 3ABN is not one that wants 30:17 everything. - That's right. - Now, there are 30:20 some families, there are no children involved, 30:22 there's no family, and 100% is fine. But we 30:27 encourage you to look at your family, see what 30:32 their needs are, and plan accordingly. The 30:36 minimum that we require is 25% of the total 30:42 estate. - On which instrument? - Now, 30:45 that's on the trust. - Okay. - Basically, 30:48 anything that we do, 25% is the minimum. 30:52 - Right. - Right now, we're talking trust; 30:54 we're talking wills. So, a trust... Let's 30:58 get into some of the nuts and bolts-right. 31:01 The trust, we like to use for everybody 31:05 that has real estate- property, land-because 31:11 that's of high value. And when you do a 31:16 trust, everything that goes into the trust, 31:19 you don't have to go to probate. If it's listed 31:23 in the trust-and it's very important that 31:25 people call-they're considering their entire 31:29 estate. Everything that they own needs to go 31:33 into the trust. - So the process is a lot 31:35 easier once someone passes away. - Right. 31:37 - Is a trust like a will, then? - It's a little 31:40 more than a will. - Okay. - It does very much 31:43 the same thing, but you do not have to go to 31:47 probate. - Okay, so what does probate mean? 31:49 - Let me qualify that: I never want to say never. 31:53 - Okay. - Because there may be something that 31:57 was forgotten. The trust has something 32:01 called a pour-over will. Anytime you hear the 32:05 word "will", it has to be probated. - Okay. 32:08 - So, you want to list as much as you can, 32:11 as much as you know, in the trust. And the 32:15 pour-over will acts this way: say you went out, 32:18 you have a trust with us, you went out and bought 32:21 a piece of land. - Okay. - And you paid for it. 32:25 And on the way home, you're killed in a car 32:26 accident. Something that we don't like to 32:30 think about, but that's life. - It happens. 32:32 - That hasn't been put into the trust yet. - Mm. 32:36 - The pour-over will will take that piece 32:38 of property and pour it into the trust. 32:41 - Okay. - But it has to be probated. That 32:46 part has to be probated. That's the only part. 32:49 - So, someone may not know what probated means. 32:51 Who wants to define what probate means? 32:53 - Go ahead, yeah. - I was just gonna get to 32:56 that. - Okay. Sorry, I... - You're pushing 32:58 me! [laughter] - Yeah, I'm pushing you. Yeah, 32:59 okay, okay. I'll try and calm down. [laughter] 33:02 - I know you want to know this information. - I do! 33:04 - You do. And I'll expect you in my 33:06 office, you know, this afternoon. Probate 33:09 is the process of going to a judge to have him 33:14 look at the papers that have been written 33:17 and say, "Yes, this is the way it goes," 33:21 or, "No, I disagree; it's gonna go a different 33:23 direction." And to go to probate, you need 33:26 an attorney. - Okay. - And you know anytime 33:29 you have an attorney involved, it's gonna cost 33:32 money. - That's true. - And it's gonna cost time, 33:34 and it's time that should not have to be 33:38 done. - Right. You know, I look at a will 33:40 as an instruments where you just write a document 33:45 and you say, "This is what I wanna leave 33:47 to 3ABN or to my son or my daughter or my 33:53 family," and you just write that out. The 33:56 trust part is a little more in detail as far 34:02 as, like property, you want to put it in a 34:05 trust to secure that property so you don't 34:08 have to do probate. You save time at the end, 34:11 and it just makes it easier for your estate 34:14 with complex assets... - I see. - ...that you 34:17 want to put or secure safeguard in a trust. 34:21 Yeah, you could have property and a will, 34:23 but sometimes it's better to be in a 34:26 trust to avoid additional time and complexities 34:29 after someone has passed away. - Probate's the 34:32 keyword. - Yup. - And we had a call just in 34:35 the last couple of weeks. Somebody 34:37 heard us talk about probate. - Right. 34:39 - And that has stuck in their mind. They 34:40 said, "We don't want to use probate; we 34:42 want to make sure everything is in trust." 34:44 - Right. - So, that's very important. 34:47 - So, someone at home says, "Okay, so I don't 34:48 have a trust, but I have a will." How hard 34:51 is it for me to take that will and put it 34:53 into a trust with 3ABN? - Very easy, and we 34:57 have many people that have wills...and here's 35:00 something that happens. People that have done 35:02 a will or a trust think, "Oh, we never have 35:07 to look at it again." Wrong. It's something 35:11 that you need to look at every 2-3 years, because 35:14 life changes. - That's true. - And what you're 35:17 planning right now may not apply two or three 35:20 years from now. - That's right. - Somebody that 35:22 you had a beneficiary may have passed away. 35:25 You may have sold property. There's all kinds of different 35:30 things that we need to know about as 35:32 far as making sure your document is correct. 35:36 Now, let me go to something right now 35:40 called a POD. It's called payable on death. 35:44 - POD. - Right. Pay on death. Don't like that 35:47 term, but it's something that most banks use. 35:51 They might call it something different; 35:53 they might call it a certification of trustee. 35:58 They may have different names, but all it does 36:01 is, "What happens to my bank account? My 36:07 stocks, my bonds? What happens to that?" 36:10 - "When I pass away." - You can list that 36:13 in the trust. But recently, I had a situation where 36:19 I had all the documents, I had the trust, and 36:22 we actually had a POD. So I went to the bank, 36:26 and the larger banks are really tough. They 36:31 want to keep that money even though it's my money, 36:34 it's your money, they want to hang onto 36:37 that as long as they can, and they will throw 36:39 every little stone their way. - Well, they want 36:42 to be careful, as well. - They want to be careful... 36:44 - Yeah, they're trying to be careful. - And 36:46 that's a good point. But in this particular 36:49 case, I had all the right documents, and they 36:53 flatly told me, "You don't have the right 36:56 documents." And I had the executor of the will 36:59 with me, and we kind of looked at each 37:02 other and we said, "What's going on?" 37:05 And they weren't forthcoming. They won't tell you 37:08 the information you need to know; you have to 37:11 bring it to them. Well, what happened, what 37:14 they realized, this was the son of the person 37:18 who passed away that the mother had changed 37:22 the accounts. She had enclosed the accounts 37:26 that were listed on that POD, and they 37:30 never did another POD for the new accounts. 37:33 So, at this point, guess what? We have 37:37 to go to probate, because that has to 37:40 come in through the will. We have the 37:42 two accounts that we know are there, but 37:45 they're not listed on that POD. So, something 37:47 that is very easy to do, and I encourage 37:51 everybody, whether you have a document with 37:53 us right now or not, is to go to the bank 37:56 and know who your beneficiaries are on 37:59 your accounts, who your beneficiaries on your 38:03 insurance policies, who are the beneficiaries 38:05 on your stocks and bonds. Because if they're 38:08 not there, that presents probate problems in 38:11 the end. Even though you have a trust, 38:13 it's gonna come in through the will. - Right, 38:15 and a beneficiary is someone who's received 38:18 something part of the documentation. So, 38:21 if I'm a beneficiary of an account... So, 38:24 there's an owner and then the beneficiary. 38:26 So when I pass away, that beneficiary will 38:28 get that account. - Absolutely. - Okay. 38:30 - Yeah. - And I had the executor and the 38:33 beneficiary with me. That didn't count. 38:37 - Right. - Because it has to say it on paper. 38:39 It has to say it on the bank or the credit 38:42 union or whatever financial institutions... Paper. 38:45 - What I like about this POD is it's a very 38:48 easy and quick way to be able to designate 38:52 where that asset goes without creating any 38:57 type of will or trust or anything. It supersedes 39:00 all those other types of documents. - That's 39:03 right. - And that's something you do, 39:05 your bank. - That's something that you do 39:06 at your bank or your insurance company; you 39:09 can do a POD on your insurance policy... 39:12 You could do a POD on many of the instruments 39:15 or assets that we may have. - And if you go 39:18 to the bank and they don't know what the 39:19 term POD means, all you need to say is, 39:22 "I want to know who my beneficiaries are 39:24 on my account right now. If there's none 39:27 there, I want to add." - Yeah. - Or change. 39:30 - And POD is usually for bank accounts 39:32 and things like that. - And there's a term 39:35 for stocks and bonds. Do you remember what 39:39 that term is? I'm putting you on the spot. - Yeah, 39:41 thank you. Um... - Well, as you think about that, 39:44 our time is clicking away... - It really 39:45 is, yes. - So we've got other documents? 39:47 You talked about the trust, and then we've 39:49 got cash trust, too. - We have a cash trust 39:51 that's strictly an investment-type 39:53 document. It's called a trust because you 39:57 invest money. There's a minimum for doing 40:01 it, and it's $10,000 for one person and 40:04 $20,000 for a couple, and that provides 40:09 interest income, and you get that pay 40:13 depending on how much money you put in, 40:16 whether it's monthly or quarterly. - Okay. 40:19 - Or you can twist my arm and I might bend 40:22 the rule a little bit. - Oh, okay. - So, it 40:24 depends on your needs. But that's generally 40:25 the policy is depending on the amount as to 40:30 how often you're gonna get paid. - Okay. - And 40:34 on the cash trust, you can name beneficiaries. 40:38 - Okay! - 25% always comes to 3ABN as a 40:43 minimum. It can be 100%, 50%, whatever 40:47 you want, but we require 25% to do it. Then you 40:51 can list family members, even other ministries. 40:55 - Okay. - And people say, "Other ministries? 40:57 You're a ministry." Yes! Other ministries, 41:00 right documents, and they do the same thing 41:02 for 3ABN. - That's right. - And at this 41:05 point, somebody says, "I already have a trust 41:09 with another ministry." That's great! You know 41:13 what you can do? You can go to them and 41:16 say, "I'd like to add 3ABN as a beneficiary." 41:18 - Mhm. - So we'd become the beneficiary. 41:20 - Yeah. That's great. Yeah, and I'm sure 41:22 there's people out there like that. - Yeah, so 41:24 let me answer your question. The POD is for investment 41:26 accounts, as well, as for, like, checking 41:28 accounts. So, I would say that term is 41:30 transferable between the two. Yeah. - Okay. 41:33 - Okay, so just revocable. Cash trust, revocable? 41:37 - Cash trust is revocable. - What about the trust 41:40 we were just talking about before that? 41:41 - All those are revocable. - Okay! - Right. We 41:45 don't do many irrevocable trusts. - Yup. - That 41:49 gets much more than what we'll talk about 41:51 today. - Yes! - But let's go on real quickly 41:55 to charitable gift annuities. - Mmkay, what does that 41:58 mean? - That is if you have charitable intent- 42:00 and everything you do with 3ABN or any 42:03 ministry, you should have charitable intent. 42:06 - Yeah, that's true. - The joy of giving is 42:08 including charity, the ministry. - And you know 42:12 what's great about annuities that I've 42:14 experienced in managing them for the last, I 42:17 don't know, 20-some years is that those who have 42:21 annuities, they love them so much that they 42:23 get more and more annuities. So, they see the importance, 42:28 and they see it as, like, a check coming 42:32 in the mail, like they get this monthly check or 42:35 quarterly check or semiannually or even 42:38 annually, but they like it so much that they 42:40 do more. But what's even greater than this 42:43 is for some reason, these people live longer 42:47 than their life expecting. [Roy laughs] - We've seen 42:49 that over and over and over again that, you know, 42:53 the worry goes away. They know that this 42:55 money's coming in, they know what they're 42:58 using it for, and it's a perpetual thing 43:01 until they die, but it's something that they 43:03 don't have to worry about, and that's a 43:05 pretty awesome tool. - Oh, yeah. - To use. 43:08 I do wanna just go back to the cash trust. 43:11 You know, we mentioned cash trusts a little 43:13 bit, but that is a revocable instrument 43:16 that pays a decent amount of interest. 43:19 Right now, we have a cash trust, a process 43:22 or program, and we're, right now, earning 43:25 4.03% on the cash trusts, which is a 43:30 pretty good rate for this time of day and age 43:33 where money markets are maybe at 1.5-1.75%. - And that 43:38 you have access to your money. - Right away! 43:41 - Right away. If you need the money... 43:42 - Right! - You can have it. - That's right. 43:44 So, I just wanted to share that. I didn't 43:46 want to go back, but a cash trust is a great 43:50 instrument that instead of sticking in the bank, 43:52 you can put in a cash trust, you can withdraw 43:55 it anytime, it gets good interest, and 43:57 it compounds if you keep it in there, which 43:59 is a really helpful tool later on in life. 44:02 - Now, I will add a little bit of caution 44:03 to the withdrawing. We're not a bank account. 44:07 We're not a bank. - That's a good point. - And we 44:09 don't want individuals constantly withdrawing 44:14 from their account. It's meant to be an 44:17 emergency-type request. - So, it's kind of like 44:20 a reserve of resources that you don't need on 44:23 a monthly basis, and that's... - But if you 44:25 need it, if you bang up your car, you need 44:27 money, you can ask for it. If you need to pay 44:30 your taxes...you know. We never ask what the 44:33 emergency is. - Yeah, yeah. - Of course, that's 44:35 their personal business. - x2. - So going back 44:37 to annuities, can I actually- I've mentioned 44:39 earlier-43 years old- can I do an annuity? 44:43 - Probably not. You could, but the interest 44:47 rate that would be given you is based on your 44:49 age, which is very minimal. - Okay, so 44:52 you recommend annuities to what age range? 44:54 - 65 and up. - Okay. - Is probably the best 44:57 age, and even older now based on... 45:00 If you're 90, you get 9%. - Wow, right. 45:04 Currently. - Currently. If you're 65, you'll 45:07 probably get somewhere between 4 and 5%. 45:09 - Now, there's something, as we know... - And that's 45:12 guaranteed. - That's right. We also provide- 45:14 say you really want an annuity, and you're 45:17 in your 40s. And so, what we do is we do 45:22 a deferred annuity. And so, what we do is 45:26 we look at your age, and then we decide 45:28 when you want to start receiving payments, 45:32 and that's the point that we would figure 45:36 out your interest rate based on a standardization 45:40 that all those organizations that provide charitable 45:44 gift annuities, we use the same system and 45:47 same interest rates. And so, you can do 45:51 it. We could keep the money and defer it 45:54 until you reach 65, 66, 67, where your interest 45:58 rate is a lot better, and then we would manage 46:00 it from that point forward. - That makes 46:03 sense, Jason. Mhm. - Yeah. The other 46:05 possibility, and we encourage people to 46:07 do this... Deferred is one way. Now, there is 46:10 start a cash trust. - Okay. Start with a 46:13 cash trust. - And the interest rates are 46:15 similar to what you're referring to, but we 46:19 send out letters about the last quarter of 46:24 the year and say, "You have this much money 46:27 in the cash trust, and at your age you could 46:32 earn this much more." - Through an annuity, 46:34 or...? - Through a charitable gift annuity, and people 46:36 will transfer money from their cash trust to 46:39 the annuity. - Okay. - And that works out 46:41 very well. - That's right. - So either way: 46:42 deferred annuity or starting a cash trust. 46:45 - Yeah. These are just great tools to, you know, 46:49 keep your resources secure and safe, but 46:52 also have a plan in the future. - You got 46:54 some other documents, Roy? - I do, and I want 46:56 to talk real quickly about IRA rollover. 46:59 - Okay. - People will call us and say, "I'd 47:02 like to roll my IRA over to Three Angels 47:05 Broadcasting. We could have millions of dollars 47:09 in our coffers if we could accept IRA 47:12 rollovers. - I would say that money wouldn't 47:15 stay in the coffers long. It's gonna be 47:17 used for the Lord's work. [laughs] - That's 47:18 right. However, IRS says that rolling over 47:22 an IRA to a charity- any charities, not 47:26 just 3ABN-that can't be done...unless you 47:31 withdraw it from your portfolio and pay the 47:35 taxes on it. - Mm. - And we never encourage 47:38 people to do that. If they do it, it's on their 47:40 own. However, IRS and our Congress has passed 47:46 a law about three years ago. When you're 47:51 70-and-a-half, you have to take what's 47:55 required-a required minimum deduction. 47:58 - Mm. - Distribution. - Distribution. - Okay. 48:00 - From your IRA. If you don't need that 48:04 money- and a lot of people don't; they 48:07 have so much money coming in from other investments 48:10 that they don't need that but they're 48:11 required to take it. So what better way of 48:14 helping a ministry is taking that required 48:18 money and giving it to 3ABN? - Okay. I see. 48:22 - There's a certain way you have to do 48:26 it, and we don't have time to talk about that. 48:28 Call us at (800) 886-4800 and we'll tell you how 48:35 to do that. - Okay. - Even though you're 48:37 required to take that amount, you can actually, 48:40 that amount, up to $100,000, over and above what 48:44 that's required, you can give to a charity. 48:47 - Wow. That's great. - Right. And there's 48:48 tax benefits, as well, for that when you have 48:51 the 70-and-a-half, so... - You don't have to 48:54 report it as income. - That's correct. - It's 48:55 not a deduction; you just don't have to 48:57 report it. - Right, and you don't get a 48:58 charitable deduction for that because it's 49:02 the tax implications. So, you don't have to 49:05 pay taxes, but you also benefit the organization. 49:08 And so, it's kind of a win-win situation, 49:11 the way I look at it. - Oh, amen. - We're 49:15 cutting... Our time's short. - Yeah, I know. 49:18 Our time is getting away from us! - Do 49:19 we have enough time to talk about donor-advised... 49:21 - Absolutely. - Okay. - So, one of the instruments 49:24 that is very interesting today is donor-advised 49:28 funds, and those are instruments where, 49:31 let's say a donor doesn't want the organization to 49:36 have all the money right now. They want to give 49:38 it to them, but they wanted to keep it 49:40 secure for maybe a project that's coming 49:42 up. So, what they would do is they would say... 49:45 Let's just say I had $100,000 and I want 49:48 to give it to 3ABN, but I wanted to restrict 49:49 it in a fund, in a donor-advised fund, 49:53 for projects in the future. So let's say, 49:56 Greg, you say, "We have this project going 49:59 on. We need either more equipment or 50:01 we need to do something or we need to create 50:04 an app to give you resources that you'll 50:07 benefit from," but that costs money. So, a 50:11 donor-advised individual would say, "You know 50:14 what, I want to give $25,000 out of this 50:17 donor-advised fund for this project." And so, 50:20 we would take that money out of this 50:22 donor-advised fund, and we would put it 50:24 in for that project. And that way, the donor 50:27 sees their money going for specific uses that 50:30 is restricted at 3ABN but then utilized when 50:35 the donor wants it to go for a specific project. 50:38 - So the donor's still alive. - That's correct. 50:40 - ...They can see what it's doing and what 50:42 project it's going for. - That's right. So, 50:43 during life, an intestate gift is a great way 50:48 to see how the resources God has given you for 50:52 specific projects and benefits. - Now, you 50:56 used a big word: intestate. - Yes. Yes. - You explain 51:00 that real quick. - So, an intestate gift is 51:03 a gift while you're alive. And, you know, 51:07 yes, it's great that when you die that 51:10 you give to 3ABN and your family...but sometimes, 51:14 it's nice to see how the money is being 51:18 utilized while you're alive to see how it 51:20 benefits the organization, like 3ABN, and the 51:24 benefits that it provides around the world and 51:28 what we do. - Yeah. So, we've talked about 51:30 a lot of different things today. - We have. 51:31 - Stewardship, the joy of giving, a lot of 51:33 different documents... - And you learned a 51:35 new word: intestate. - Yeah, that's right. 51:37 And the definition of all the, like, the trust 51:40 and cash and annuities and all that. But what 51:42 we want to do right now is actually go to 51:44 our address roll, which is the contact information 51:47 for Planned Giving & Trust Services. Let's 51:49 go to that right now. Write it down, and 51:51 you can get more information from them. 51:56 - If you would like to learn more about 51:57 3ABN Trust Services and how to use your 52:00 financial resources, investing wisely, and 52:03 at the same time helping the work of your ministry, 52:05 then you can contact them at 3ABN Trust 52:09 Services Post Office Box 220 West Frankfort, 52:12 Illinois 62896. That's 3ABN Trust Services 52:17 PO Box 220 West Frankfort, IL 62896. 52:23 You can call (800) 886-4800. That's (800) 886-4800. 52:31 Or go to our website at www.3ABN.org. |
Revised 2020-03-10