Estate Planning Stories

 

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Here’s a non-serious and perhaps non-factual story about creative estate planning:

Joe was a single guy. He lived at home with his widowed father and worked in the family business. After he found out he was going to inherit a fortune when his sickly father died, he decided he needed a wife with whom to share his fortune.

One evening at an investment meeting he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away. “I may look like just an ordinary man,” he said to her. “But in only a few years my father will die and I’ll inherit 20 million dollars.”

Impressed, the woman obtained his business card. Three days later she became his stepmother.

Women are so much better at estate planning than men.

Now here’s a true story on the serious side. Over 30 years ago during my first term of duty with what was then known as Lutheran Foundation of Texas, I assisted a married couple with their estate plan. For a number of reasons they asked LFOT, now Legacy Deo, to serve as executor of their respective estates. He died several years ago. She passed away earlier this year.

In accord with directives in their last will and testament, the Executive Director of LFOT, now known as the Chief Executive Officer of Legacy Deo, is serving as executor. That’s me.

This couple’s estate included a double crypt at a funeral home in Brookfield, Wisconsin. Recently in that state for another reason, I was able to look at this very valuable estate asset. Because the family chose to be buried in Texas, they no longer need the crypt, now for sale.

The funeral home is the most beautiful I have ever seen. The main building is surrounded by well-manicured grounds and acres of bronze grave markers. The interior includes pristine, dignified crypt halls with burial spaces on each side, from floor to ceiling. I was impressed!

It’s my duty to liquidate all assets of this estate, which will then be distributed to the Lutheran congregation of which these two dear folks were members. If you’re interested in more information about crypt location and price, let me know. I’ll be happy to provide the details.

In the meantime, if you haven’t already done so, I strongly encourage you to do what these fine folks did. Take care of the very important matter of estate planning, which is not accomplished simply by marrying a wealthy senior citizen. Planning your estate is a critically significant responsibility that, when accomplished, will bring peace of mind to you and to your family. Legacy Deo can help.

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Ministries and Resources

Church

Before getting into today’s topic I simply must take this opportunity to extend special greetings to Terry’s and my favorite (and only) grandson, Kolby Ryan Keith. This handsome, intelligent, hard-working young man is 24 years of age today. Happy Birthday, dear Kolby! Mimi and I love you more than you’ll ever know. We thank God for bringing you into our lives.

In today’s article I bring to your attention a number of significant ministries and resources:

  • Legacy Deo – Formerly known as Lutheran Foundation of Texas, Legacy Deo’s mission is to inspire giving that impacts life forever. Assistance for individuals, congregations, and organizations with endowments, trusts, gift annuities, donor advised funds, estate planning, and other special giving ideas and insights for faith and family. Website: legacydeo.org
  • Texas District Lutheran Women’s Missionary League – The 40th Biennial Texas District LWML Convention begins today in Waco. For 75 years the national expression of this LCMS auxiliary has provided prayer and financial support for mission activities in the U.S. and around the world. It’s a wonderful organization, worthy of support! Website: lwmltxdist.org
  • Mission of Christ Network – Works with individuals, congregations, entities, and groups to train, send, and support lay workers “To boldly, intentionally and faithfully make known the light, love and peace of Jesus Christ, by word and deed, to those around the world who live in spiritual disbelief, darkness and despair.” Website: missionofchrist.org
  • Pastor 360 – Intensive spiritual, practical, financial, personal leadership coaching for pastors provided by veteran LCMS church leaders named Kieschnick, Knippa, Tucker, Tyburski, Wagner. Helping pastors deal with stress that causes anguish, worry, bewilderment, anger, depression, fear, and alienation. “Making Life and Ministry Better” Website: pastor360.com
  • MinistryFocus – Founded in 2013 to eliminate systemic barriers to ministry, including often burdensome educational debt of pastors and other called workers. When personal debt distracts called workers from their work, congregations suffer. MinistryFocus can help by providing educational loan repayment assistance. Website: ministryfocus.org
  • Ministry Sabbatical Resources – Created to assist in the planning and promotion of Ministry Sabbaticals, a period of time, usually three months, when ministry leaders and congregations set aside the leader’s normal responsibilities for the purpose of rest and renewal toward sustained excellence in ministry. Website: ministrysabbaticalresources.com

These ministries and resources are brought to your attention as a public service. I am personally connected to and supportive of each and hope you find them interesting and helpful. Your support and involvement are encouraged, as the Lord leads, guides, and directs.

God bless your day!

 

As I Get Older

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Thanks to my many readers who expressed birthday greetings and anniversary congratulations last week. Your expressions of love are sincerely appreciated. The years go by quickly!

In that regard I recently saw the following observations titled As I Get Older:

#1  –  I talk to myself, because there are times I need expert advice.
#2  –  I consider “trendy” to be the clothes that still fit.
#3  –  I don’t need anger management. I just need people to stop ticking me off.
#4  –  My people skills are just fine. It’s my tolerance for numskulls that needs work.
#5  –  The biggest lie I tell myself is, “I don’t need to write that down. I’ll remember it.”
#6  –  I have days when my life is just a tent away from a circus.
#7  –  These days “on time” is when I get there.
#8  –  Even duct tape can’t fix stupid, but it sure does muffle the sound.
#9  –  Lately, I’ve noticed people my age are so much older than me.
#10 – When I was a child, I thought nap time was punishment. Now it’s a mini vacation.
#11 – I thought growing old would take longer.
#12 – Wouldn’t it be wonderful if we could put ourselves in the dryer for ten minutes, then come out wrinkle-free and three sizes smaller?

Some of those observations are accurate. Others are gross exaggerations. One not mentioned above is that sometimes we procrastinate on responsibilities that need attention.

In my current vocational calling I discover that folks of all ages, including men and women my age or better, keep postponing preparation of important legal and practical documents that need to be taken care of. I’m thinking especially of a Last Will and Testament.

Also important are powers of attorney for finances and health care; a list of assets, liabilities, account numbers, and passwords; information and plans for our funeral service.

Some folks put off taking care of these things because they simply don’t want to admit that one day those documents will really come in handy for a surviving spouse and family. Or they just don’t want to think about the reality of death. Here’s the truth: Death happens!

We at Legacy Deo can assist you with these important matters. Go to http://www.LegacyDeo.org or email me at GBJK@LegacyDeo.org. You’ll be glad you did … especially as you get older!

Legacy Deo

screen-shot-2017-01-04-at-9-55-49-pmLegacy is a word that means bequest, inheritance, heritage. Deo is the Latin word for God. Those two words comprise the new name of Lutheran Foundation of Texas: Legacy Deo.

Our legacy from God is who we are and everything we have, including possessions, wealth, fullness of life, faith, forgiveness, and eternal salvation. Our legacy to God and to our loved ones is thanking God for his gifts by using them wisely, during, at the end of, and beyond our lifetime. Helping people in that process is the ministry of Legacy Deo.

Here are portions of a recent public letter from Larry Ohls, Chief Executive Officer of Lutheran Foundation of Texas for the past seven years:

A God Honoring Legacy

The year 2017 will be a very special NEW year for this organization. It will be the beginning of a new era for this foundation that was chartered over 56 years ago.

Over the last 15 months our organization has evaluated the brand identity of this ministry. We spent a great deal of time considering and discussing our core values, mission, purpose, and vision for the future. After extensive research, examination, and prayer the decision was made to change the Foundation’s name to Legacy Deo.

Our new name reflects the essence of what we do as an organization: to assist Christians in leaving a legacy that honors God and builds His kingdom. Over the past 56 years, this Foundation has worked to inspire giving that impacts life forever. Going forward, it is our vision that God’s people, each and every one, will leave a legacy for faith and family like so many before them.

I also want to inform you that effective December 31, 2016, I am retiring as Chief Executive Officer. I plan to continue as an advisor with Legacy Deo and assist in any manner that adds value to the organization. The Board of Directors has selected Rev. Dr. Gerald Kieschnick, President Emeritus of the LCMS, to lead this ministry as Chief Executive Officer. We are blessed by God to have a man of Rev. Kieschnick’s talent, experience and commitment to guide us into the future.

It has been an honor to direct this organization over the past seven years. I consider it a blessing to have served alongside a talented staff that is dedicated to influencing the lives of Christian donors and the life-enriching ministries they support. To God be the glory!

Larry P. Ohls

Larry has been a great leader of this organization for the past seven years. I’ve known him all his life and pray his retirement will be a blessing for his wife Carolyn and their family.

It is my privilege to accept the leadership role of this very important ministry. With God’s help and Terry’s blessing, I look forward to helping individuals and families create a legacy for their loved ones, their congregations, and other charitable organizations with the gifts God has entrusted to their care.

For information and assistance on how to begin that process for your family and your favorite faith-based endeavors, see the contact information below.

Legacy Deo. God’s Gifts. Your Legacy.