I want to spend my life
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Spend my life.
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Mending broken people
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I want to spend my life
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Removing pain
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Lord let my words
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Let my words
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Heal a heart that hurts
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I want to spend my life
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Mending broken people
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I want to spend my life
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Mending broken people
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Hello, and
welcome to 3ABN Today.
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My name is C. A.
Murray and allow me once again
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to thank you for
sharing just a little
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of your no doubt
busy day with us,
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to thank you for
your love, your prayers,
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your support of this ministry,
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because we
realize we could not do
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what we are called
to do without your love
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and your support
and your partnership.
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So we thank you from
the bottom of our heart.
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We want you to
drop and give ear today
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to this particular program,
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because we're gonna
talk about some things
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that will affect
your life here and now,
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will affect your
life in the near future,
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will affect this
ministry in the near future
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and may affect us for all time.
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That's pretty heavy
stuff, Brother Roy Hunt.
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How you doing, man?
I'm doing just great.
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Glad to be here, glad
to be sitting next to you.
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Roy Hunt is the director of
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Planned Giving
and Trust services,
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which is a mouthful.
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But we will walk and
wade our way through that
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air wish I had
finished this program.
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He does a very, very fine job.
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He's a nice guy
to hang out with too.
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We appreciate Roy and
Earlenne so very, very much
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since they have joined
us several years ago now.
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Five years, hard
to believe. Yeah.
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In fact, it's over
five years. Is it really?
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We are
approaching six, I believe.
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You got to be used to the cold
and the winter by now, I think.
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Well, you know,
when I first came,
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the temperatures
were fairly temperate.
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But the last two years,
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somebody did
something to the weather.
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Ten below is not
what we came here for.
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I don't think corn can grow
in ten degree below weather.
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I know, people don't grow
much in ten degree below either.
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No.
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We are joined by
Attorney Barry Benton.
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Barry, good to
have you here again.
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Thank you. Yeah, I heard that--
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a little bird told me
that he exercises everyday.
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He looks like it. He
is in good shape, man.
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Everyday, you know,
I'll call him for advice.
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And he's out on the trail,
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and he's not even
huffing and puffing,
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and he's doing his morning walk.
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So that's how
his mind stays clear
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and unscrambles mind.
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Okay, very good.
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So he-- you need a
level head in a room.
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That's right, absolutely.
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We're dealing
with people's money.
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And then two
friends that you don't see
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too much on this
particular program,
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but they are employees of 3ABN,
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Senez Rodriguez, who works
in our pastoral department,
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an articulate gentleman,
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good looking guy
too, you know, yeah.
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Yeah, he looks good. And
his wife Sonia who is the--
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I was gonna say the
D. Hildebrand of Latino.
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Well, that's not fair to her.
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She is the production
coordinator for 3ABN Latino.
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Good to have both of
you guys here with us.
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And they are a part of what
we we're gonna talk about today.
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Roy, aren't they?
Yeah. Absolutely. Right.
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They have jumped
right in to the lifestyle
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right here at 3ABN,
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and along with that
they've decided to do a trust.
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And they are here
to talk about that.
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And tell us why,
why they've done that.
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Yeah, you know,
before I go to the music,
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I want to switch
things up a little bit,
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because we talk about
these different instruments
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and of course, you are
very familiar with them,
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Attorney Benton is
familiar with them, I'm not.
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I'm kind of a layman.
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So this is kind of
trust services for dummies,
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you know, with me
in the lead chair.
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I'm not gonna respond to
that. Yeah, praise the Lord.
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I want to thank you,
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you're a
gentleman and a scholar.
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But I want to ask you,
why would one do a trust?
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In the broadest possible sense,
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what's the value of dealing
with your money on this wise?
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Why would one do a trust?
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Well, the main reason
is to protect your estate
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when you pass away.
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And you have usually a husband
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and a wife that have property.
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Sometimes it's separate,
sometimes it's combined.
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And the trust will
tell at the end the trustee,
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the one that takes the
lead in dispersing the property,
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how to do it.
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It simplifies the process.
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When you both pass away,
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everybody knows
what's going to happen.
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There's no second guessing
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as to what's gonna
happen with the property.
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And statistics prove
that once the trust is done
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and everything is finalized,
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the old wives' tale
is that you're gonna die
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as quick as you do a trust.
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That's not true.
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Statistics prove
that you live longer
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because you have made that plan,
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you are content with the plan
and you can always change it.
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As long as you are
alive and in sound mind,
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you can change your trust.
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All right, Attorney, do you
want to add anything to that
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or has he
handled that pretty well.
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Pretty well, but I
like to add that also,
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the distribution is done
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without having to deal
through the court process.
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It just goes without
going through the probate court.
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It just goes to
whoever the beneficiaries are
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without any ripples.
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I see.
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Is that what
separates a trust from the will,
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because can you get the
same results with the will
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or is a trust a
little needed document?
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Well, you can get
somewhat the same results,
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but the court
has to get involved.
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It has to go to probate.
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That's time and
money that's not necessary.
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I was involved in
probate in a particular state.
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And 100 percent
was coming to 3ABN.
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But there was one portion of it
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that was not
listed in the trust.
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Even though 100
percent was coming to 3ABN,
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we still had to go to probate.
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It took nine
months and about $5,000
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to finish that part of it.
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And if that part
had been in the trust,
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we wouldn't have
to worry about it.
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We could have gone right in,
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made the
distribution 100 percent to 3ABN
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and been done.
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Okay, so Roy, once you
involve the legal process
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and you are
slowing down your time
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and you are eating up your cash.
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Eating up the cash.
So-- I can relate to that.
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You are taking my time and
you are eating up my money.
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We don't want to do that.
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And for 3ABN, we
were 100 percent.
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So I was eating into
what we were going to get.
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But normally we
don't get a 100 percent.
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It's divided among
other beneficiaries. Yeah.
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So, you know, all those
expenses come off the top
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and what's
divided is what's left.
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So 100 percent of what's left.
Right. Yeah, yeah, yeah, yeah.
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So I'm kind of
begging the point.
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So for
smoothness of transaction,
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staying out of a legal process,
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the trust is just
a better instrument.
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Better instrument, yes.
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If you have high
dollar, if you have property,
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you have real estate, by
all means, you do a trust.
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Especially, if you have
property in more than one state
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because if you have just a will,
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you're going to
probate in your own state
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and you are going to
also probate in the state
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where you have other property.
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And every time you
are going to court,
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you are whittling
away at your funds,
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that's another
attorney, that's another...
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Right. We love
attorneys. You are right.
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I was gonna say the same thing.
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We are not trying to take any
food out of your mouth, Barry.
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We are not trying to
take any bread off your table.
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But I guess the less
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that you can be
involved with attorneys
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and attorneys and
attorneys and attorneys,
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the better it is for you.
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Absolutely. Yeah.
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Now do you have to be
filthy rich to do a trust?
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No, no you don't.
Okay, that's what I thought
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Senez and Sonia
were holding out on us.
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I better get out of here then.
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They had wealth
that we know not of.
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So we are not talking about--
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you don't necessarily
have to have a lot of money,
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but you just want to
direct the money you do have.
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That's right. And
property, especially.
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Property can get
tied up in probate
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if you don't have a trust,
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and sometimes
that can go on and on.
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And it's not necessary.
00:08:52.09\00:08:54.20
When we do a trust, we make
sure everything is in order.
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The deeds are in order.
Everything is in its place.
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So when the time comes
to disperse, it's done.
00:09:02.57\00:09:06.61
We don't have to spend a
lot of time at that point.
00:09:06.64\00:09:09.58
And we make a lot of effort in--
00:09:09.61\00:09:12.91
in fact, some people
think we're being nosy.
00:09:12.95\00:09:15.72
And we ask all these questions.
00:09:15.75\00:09:18.25
I see Sonia
shaking her head there.
00:09:18.29\00:09:22.02
You know, we had to
ask a lot of questions,
00:09:22.06\00:09:24.06
and she's, "Do I
have to answer that?"
00:09:24.09\00:09:26.39
And believe me, we
are the trust department.
00:09:26.43\00:09:31.00
And what we do on
the trust department
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stays in the trust department.
00:09:33.90\00:09:35.74
So if there are
personal questions,
00:09:35.77\00:09:37.54
there is information,
you put it in the trust
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and that's as far as it goes.
00:09:40.94\00:09:42.34
So if I asked you to
get a little dirt on Sonia
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and Senez, you
wouldn't... I wouldn't tell you.
00:09:44.08\00:09:45.78
Will you help me
out? No. Okay. Very good.
00:09:45.81\00:09:49.58
I like that because
they needed some dirt on me,
00:09:49.62\00:09:51.25
you wouldn't pass
it that way either.
00:09:51.29\00:09:52.62
I wouldn't pass that
either. Praise the Lord.
00:09:52.65\00:09:53.99
Obviously, there's a lot--
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we were having
a little fun here,
00:09:55.42\00:09:56.76
but there's a lot
that we need to talk about.
00:09:56.79\00:09:59.03
We want to get into this.
00:09:59.06\00:10:00.40
We're gonna go to our music now
00:10:00.43\00:10:01.76
so that we can come
back to Roy and our guests,
00:10:01.80\00:10:03.47
and sort of
really mind these things.
00:10:03.50\00:10:04.83
Because this is the information
that you need to have
00:10:04.87\00:10:06.80
that will help you here and now
00:10:06.84\00:10:08.20
and it will help
you in the long term.
00:10:08.24\00:10:10.14
Our music today is
coming from Jaime Jorge,
00:10:10.17\00:10:12.04
a great friend of this ministry,
00:10:12.07\00:10:13.41
a superior violinist
and really a wonderful guy.
00:10:13.44\00:10:15.94
He's going to be
playing "It Is No Secret."
00:10:15.98\00:10:19.68
Music
00:10:33.93\00:10:38.13
And Jaime Jorge, well
done. "It Is No Secret."
00:14:30.93\00:14:33.84
I'm here in the
company of Roy Hunt,
00:14:33.87\00:14:35.40
our director of Planned
Giving and Trust services.
00:14:35.44\00:14:37.57
Easy for you to say.
Attorney Barry Benton.
00:14:37.61\00:14:41.24
You're doing that very well.
00:14:41.28\00:14:42.74
Keep it up. Thank you.
00:14:42.78\00:14:44.11
And Senez and Sonia Rodriguez
00:14:44.15\00:14:45.91
of 3ABN Pastoral and
Latino, respectively.
00:14:45.95\00:14:49.88
We were talking
about the value of a trust
00:14:49.92\00:14:53.66
and how it makes things
00:14:53.69\00:14:55.86
just smoother and
less simple than a will.
00:14:55.89\00:14:58.96
Particularly, as
Attorney Benton said,
00:14:58.99\00:15:01.06
if you have
properties in different states,
00:15:01.10\00:15:03.87
you got to probate or
go through the court system
00:15:03.90\00:15:05.90
in every state
where you have properties.
00:15:05.93\00:15:07.67
So if you have--
it can get messy,
00:15:07.70\00:15:09.07
it can get long and
we don't want to do that.
00:15:09.10\00:15:12.11
No we don't.
00:15:12.14\00:15:13.51
And, you know, I
repeated this many times
00:15:13.54\00:15:15.98
but repetition is good.
00:15:16.01\00:15:18.31
We learn through repetition.
00:15:18.35\00:15:20.72
Do you know what the hardest
part of doing a trust is?
00:15:20.75\00:15:24.42
Any idea? Getting started.
00:15:24.45\00:15:27.72
It's as simple. We
tend to procrastinate.
00:15:29.26\00:15:33.46
And this program is
kind of aimed toward the men.
00:15:33.50\00:15:38.43
We do a program that's more
00:15:38.47\00:15:40.67
aimed toward the women
because of many reasons,
00:15:40.70\00:15:43.84
but the men in
our group need to hear
00:15:43.87\00:15:48.04
what we have to say.
00:15:48.08\00:15:49.84
Because we feel like
we're macho men, you know,
00:15:49.88\00:15:52.61
we're not gonna die.
00:15:52.65\00:15:54.88
Things just aren't gonna happen.
00:15:54.92\00:15:56.89
We don't need to
do a trust right now.
00:15:56.92\00:15:58.85
We hear that all
the time, you know.
00:15:58.89\00:16:01.82
Sometime later, we got
some other things to do because,
00:16:01.86\00:16:06.09
you know, that's more
important than doing a trust.
00:16:06.13\00:16:09.16
And we've had several instances
00:16:09.20\00:16:13.20
where the man of the house...
00:16:13.23\00:16:16.20
stung by a bee, was
allergic, passed away.
00:16:16.24\00:16:20.28
Gone, yeah.
00:16:20.31\00:16:21.64
Another person was
out trimming trees,
00:16:21.68\00:16:24.58
cutting a tree down,
the tree fell on him, no--
00:16:24.61\00:16:29.58
there was no trust, no wills.
00:16:29.62\00:16:32.85
The wife called us and said,
00:16:32.89\00:16:36.19
in one instance,
she was hysterical.
00:16:36.22\00:16:39.13
"What do I do, what I do?"
00:16:39.16\00:16:41.13
She was under a lot of stress,
00:16:41.16\00:16:43.57
a lot of grief,
which is understandable.
00:16:43.60\00:16:46.23
We saw her several
months later still grieving,
00:16:46.27\00:16:50.54
and all we could do was listen.
00:16:50.57\00:16:53.24
We couldn't do
anything at that point.
00:16:53.27\00:16:55.74
And the whole point of saying
this is not to scare people.
00:16:55.78\00:16:59.61
That's not our intention. Sure.
00:16:59.65\00:17:01.55
But life is real.
Things happen on a daily basis.
00:17:01.58\00:17:05.45
And when these things happen,
if you have a plan in place,
00:17:05.49\00:17:10.73
the spouse, the
surviving spouse can pick up
00:17:10.76\00:17:13.80
and carry on life as normal,
00:17:13.83\00:17:17.30
as normal as it can be
after a situation like that.
00:17:17.33\00:17:20.20
Okay, Roy, let's go
through the whole story
00:17:20.24\00:17:21.84
and try to get
this out of the way,
00:17:21.87\00:17:23.20
and then I want to talk
to Senez and Sonia, okay.
00:17:23.24\00:17:25.64
You have-- you die,
you have no instruments,
00:17:25.67\00:17:27.64
you got a couple of houses,
00:17:27.68\00:17:29.51
maybe few hundred
thousands dollars in a bank,
00:17:29.54\00:17:31.65
what happens to your
assets at that point?
00:17:31.68\00:17:33.98
If you don't have a will--
00:17:34.02\00:17:35.52
You have no will, no trust,
00:17:35.55\00:17:36.89
nothing, you have nothing, yeah.
00:17:36.92\00:17:38.25
It's called dying intestate,
00:17:38.29\00:17:41.46
which is a legal term meaning
there is no distribution,
00:17:41.49\00:17:46.13
no plan has been made.
00:17:46.16\00:17:48.53
And the state becomes
involved at that point.
00:17:48.56\00:17:51.93
And the courts become involved.
00:17:51.97\00:17:55.00
And it's up to the judge
to decide, in most cases,
00:17:55.04\00:17:59.51
where things go.
00:17:59.54\00:18:01.34
They'll look at
the family first...
00:18:01.38\00:18:03.18
Yes, I was gonna ask you, yes.
00:18:03.21\00:18:04.55
They will look at the
bloodlines, charities,
00:18:04.58\00:18:07.98
if you want something to
go to a charity, forget it.
00:18:08.02\00:18:11.72
The charity gets nothing,
00:18:11.75\00:18:13.52
because the courts do
not recognize charity.
00:18:13.56\00:18:15.72
So if you are a church member
00:18:15.76\00:18:17.09
and maybe you have
given to church all your life,
00:18:17.13\00:18:18.49
your church is
probably last in line,
00:18:18.53\00:18:21.06
if in line at
all, to get any of it.
00:18:21.10\00:18:22.70
If in line at all, that's right.
00:18:22.73\00:18:24.90
So if you have intent, and
everything we do with 3ABN,
00:18:24.93\00:18:31.14
you have to have
charitable intent.
00:18:31.17\00:18:33.51
People watch 3ABN and
they know that we do plan
00:18:33.54\00:18:37.51
giving in trust, and you know,
as long as they are willing
00:18:37.55\00:18:44.22
to share a part of
their trust with us,
00:18:44.25\00:18:48.12
we are willing
to write that trust
00:18:48.16\00:18:50.63
and not charge
them a penny for it.
00:18:50.66\00:18:54.00
But the key
word is "charitable".
00:18:54.03\00:18:56.36
We've had calls from people.
00:18:56.40\00:18:59.03
They've had a friend that says,
00:18:59.07\00:19:00.40
"Hey, you need to call 3ABN,
00:19:00.44\00:19:02.30
because they've
got some good plans."
00:19:02.34\00:19:05.47
And come to find out,
00:19:05.51\00:19:06.84
they don't want to leave
anything to 3ABN, you know.
00:19:06.88\00:19:11.21
And we want to work with them,
00:19:11.25\00:19:13.31
but we probably
aren't the organization
00:19:13.35\00:19:16.32
to work with at that point,
00:19:16.35\00:19:17.89
because we are
doing this to continue
00:19:17.92\00:19:20.99
spreading the
Three Angels' messages.
00:19:21.02\00:19:23.39
That is our vision to the world,
00:19:23.43\00:19:25.56
is to spread that word.
00:19:25.59\00:19:28.70
And this is long-range planning.
00:19:28.73\00:19:31.10
So this department
really exists to, kind of,
00:19:31.13\00:19:32.87
ensure the viability long
term of 3ABN and its mission.
00:19:32.90\00:19:35.84
That's absolutely right.
It's long range planning.
00:19:35.87\00:19:38.54
People say, "How
does it impact 3ABN?"
00:19:38.57\00:19:41.81
Right now, in most
cases, it doesn't. Yeah.
00:19:41.84\00:19:45.71
But everybody--
we call it maturity.
00:19:45.75\00:19:49.42
When they mature,
when they pass away,
00:19:49.45\00:19:52.59
then the money comes to 3ABN,
00:19:52.62\00:19:55.29
and that all happens
in different times in life
00:19:55.32\00:19:58.99
down the road.
00:19:59.03\00:20:00.36
So the long range
plan is money will come in
00:20:00.40\00:20:03.06
just at the right time.
00:20:03.10\00:20:05.40
Understood.
00:20:05.43\00:20:06.90
So it's very
important that you have a plan.
00:20:06.94\00:20:10.94
Don't let the state
decide for you. Yes.
00:20:10.97\00:20:13.98
Because the people
that you may want to have
00:20:14.01\00:20:16.71
some of your
estate, they may not get it.
00:20:16.75\00:20:19.95
'Cause that judge and
the state has the final say.
00:20:19.98\00:20:24.22
And I suspect if
there is any kind of dispute
00:20:24.25\00:20:25.89
between the
children or the first wife
00:20:25.92\00:20:27.29
or the second wife or whatever,
00:20:27.32\00:20:28.66
the worst it gets, the muddier
it gets and it can turn...
00:20:28.69\00:20:30.69
It takes time and
money, and again, attorneys,
00:20:30.73\00:20:35.00
you know, will charge for their
services, and rightfully so.
00:20:35.03\00:20:39.10
Oh, no, they got to eat it too,
00:20:39.13\00:20:40.54
I'm not gonna be-- we
are gonna be grudged, yes.
00:20:40.57\00:20:42.14
But the more
attorneys that get involved,
00:20:42.17\00:20:44.34
the more costly it gets.
00:20:44.37\00:20:46.44
Okay.
00:20:46.47\00:20:47.81
Now Senez and Sonia are
here because they wrote a trust.
00:20:47.84\00:20:52.48
Define for me what
they wrote, what it is,
00:20:52.51\00:20:54.82
then I'm gonna ask
them why they did it.
00:20:54.85\00:20:56.55
Okay, what they did right
now, it's called a cash trust,
00:20:56.58\00:21:02.12
and we'll get into
that in a little bit.
00:21:02.16\00:21:04.23
But in their
planning, this is the next step.
00:21:04.26\00:21:07.26
They did this to
kind of test us out,
00:21:07.30\00:21:09.66
to see if this department
really exists, you know,
00:21:09.70\00:21:13.44
and they put the money
with us and things flow right.
00:21:13.47\00:21:16.91
Then they're
gonna go into a trust.
00:21:16.94\00:21:20.08
And if I-- am I
right in that? Yes. Okay.
00:21:20.11\00:21:24.11
And I don't want to put
too many words in their mouth,
00:21:24.15\00:21:27.02
but that's kind of the
progression on this particular,
00:21:27.05\00:21:30.75
and we encourage
people to do that.
00:21:30.79\00:21:32.42
Now you say a
trust and a cash trust.
00:21:32.45\00:21:34.22
So obviously,
there's a difference.
00:21:34.26\00:21:36.46
We-- now Barry and I
disagree a little bit.
00:21:36.49\00:21:40.40
But how we do it here
is you can do a cash trust,
00:21:40.43\00:21:45.30
which is strictly cash.
00:21:45.33\00:21:47.50
You are investing in 3ABN. Okay.
00:21:47.54\00:21:50.21
We keep that separate from
what we call a property trust.
00:21:50.24\00:21:54.78
Which is your entire estate,
00:21:54.81\00:21:56.85
except the money that
they put into a cash trust.
00:21:56.88\00:22:00.85
Okay. Right.
00:22:00.88\00:22:02.22
So those are two separate items.
00:22:02.25\00:22:04.45
All right.
00:22:04.49\00:22:06.39
Sonia, Senez, why
did you do the trust?
00:22:06.42\00:22:10.93
Well, first of all,
I don't want to die.
00:22:10.96\00:22:15.70
I'm not planning to.
00:22:15.73\00:22:17.67
But the reality is
that we all are human beings
00:22:17.70\00:22:23.81
and you never know when
your turn is going to come up.
00:22:23.84\00:22:29.14
And so we really had this plan
00:22:29.18\00:22:33.75
in our heads
for quite some time,
00:22:33.78\00:22:36.15
'cause we have been watching
3ABN for quite some time.
00:22:36.18\00:22:43.19
And at some point, we actually
watched a program like this
00:22:43.22\00:22:47.76
and we began to think about it.
00:22:47.80\00:22:51.90
And it happened
that, you know, we...
00:22:51.93\00:22:55.90
you know, came to work for 3ABN
and so we made a decision that
00:22:55.94\00:23:03.91
we wanted to put our
money where our mouth is.
00:23:03.95\00:23:10.72
And to make sure
that the message of 3ABN
00:23:10.75\00:23:17.96
will continue
bringing souls to the kingdom.
00:23:17.99\00:23:23.33
And when the times
comes, that we pass away,
00:23:23.37\00:23:28.67
you know, we
have been supporting
00:23:28.70\00:23:33.21
and we will continue
to support in that way,
00:23:33.24\00:23:35.81
the mission of 3ABN.
00:23:35.84\00:23:40.12
So Roy alluded to that.
00:23:40.15\00:23:42.32
You are starting
with a cash trust,
00:23:42.35\00:23:43.85
you got a-- kind of
dipping your toes in the water,
00:23:43.89\00:23:46.55
and later on you are
thinking about doing something
00:23:46.59\00:23:48.56
a little bit more,
a little bit more...
00:23:48.59\00:23:50.26
That is our plan.
00:23:50.29\00:23:52.76
So we will come to that point
00:23:52.79\00:23:56.90
and we have been
thinking about that too.
00:23:56.93\00:23:59.10
I want to say
that we had choices.
00:23:59.13\00:24:02.07
We didn't have
to do it with 3ABN.
00:24:02.10\00:24:04.51
We had other choices
and we had a lot of prayer.
00:24:04.54\00:24:08.81
We did a lot of prayer
and asking for guidance.
00:24:08.84\00:24:13.25
And we wanted to
feel comfortable,
00:24:13.28\00:24:15.82
we wanted to do the right
thing and we really felt that
00:24:15.85\00:24:20.52
this was the right
thing, to go with 3ABN
00:24:20.56\00:24:22.92
and start working
with the trust and office,
00:24:22.96\00:24:28.43
and see how things work
and keep working in that way.
00:24:28.46\00:24:33.34
Very good.
00:24:33.37\00:24:34.70
I want to say right here
00:24:34.74\00:24:36.47
that the way we work
in our trust department,
00:24:36.50\00:24:39.51
we don't come
and twist your arm.
00:24:39.54\00:24:41.74
We don't say, "Senez, you
need to do something with 3ABN."
00:24:41.78\00:24:46.51
We encourage
husbands, wives to talk together
00:24:46.55\00:24:53.05
as far as what they want to do.
00:24:53.09\00:24:54.72
And a lot of times,
00:24:54.76\00:24:56.09
there is a
dissension between the two.
00:24:56.12\00:24:58.66
Not these two, but other people.
00:24:58.69\00:25:01.20
There's
dissention as how to do it,
00:25:01.23\00:25:03.30
who the beneficiary
should be and so forth.
00:25:03.33\00:25:06.17
We always say, talk
between yourselves, talk to God.
00:25:06.20\00:25:11.81
And once you've
made the decision,
00:25:11.84\00:25:13.91
once God has led you in
the way that you should go,
00:25:13.94\00:25:18.41
come to us and
we are facilitators.
00:25:18.45\00:25:21.28
We will facilitate
what you want to do.
00:25:21.32\00:25:24.85
Now here's a question.
00:25:24.89\00:25:26.22
For a cash trust, is the rate
of return fixed or variable?
00:25:26.25\00:25:29.96
It's variable.
00:25:29.99\00:25:32.73
We've had a cash trust program,
00:25:32.76\00:25:35.93
and I've had a call from a lot
of different entities saying,
00:25:35.96\00:25:38.63
"How does your cash
trust program work?"
00:25:38.67\00:25:41.07
And that's a compliment to 3ABN
00:25:41.10\00:25:43.71
that we have
such a program here.
00:25:43.74\00:25:46.44
But you are investing--
I'll just pick a number,
00:25:46.47\00:25:49.61
and don't let it scare you.
00:25:49.64\00:25:50.98
It's just a number that we
pick to make it easy, $100,000.
00:25:51.01\00:25:55.48
Oh, that scares
me. That scares you.
00:25:55.52\00:25:57.95
Actually it does,
'cause I don't have it.
00:25:57.99\00:25:59.32
You don't have it.
So no need to be afraid.
00:25:59.35\00:26:00.69
I was hoping you'd say,
"I've got it, I want to do it."
00:26:00.72\00:26:04.86
But the way we invest our money
00:26:04.89\00:26:07.20
is through pool
funds with Morgan Stanley
00:26:07.23\00:26:11.47
out in California,
Riverside, California.
00:26:11.50\00:26:14.17
There's two gentlemen there
that know the 3ABN very well.
00:26:14.20\00:26:17.41
They have been
very good to work with.
00:26:17.44\00:26:19.57
They understand the way 3ABN
wants to invest their money.
00:26:19.61\00:26:24.11
We don't invest in
any sin-type investments
00:26:24.15\00:26:28.32
like alcohol,
tobacco, pornography.
00:26:28.35\00:26:31.65
If we find anything out there
that we don't subscribe to,
00:26:31.69\00:26:36.66
in our theology
and the way we preach,
00:26:36.69\00:26:40.10
that's not part
of our portfolio.
00:26:40.13\00:26:42.00
And that's important, Roy,
because people want to know
00:26:42.03\00:26:43.70
their money is not going to aid
00:26:43.73\00:26:46.60
and abet something that they
would not stand for themselves.
00:26:46.63\00:26:49.00
And occasionally,
00:26:49.04\00:26:50.67
these gentlemen
would call us and say,
00:26:50.71\00:26:52.91
"We just found out that
00:26:52.94\00:26:55.14
the account you are investing in
00:26:55.18\00:26:56.54
has another subsidiary over here
00:26:56.58\00:26:59.78
that is doing things
that we don't go for.
00:26:59.81\00:27:04.59
And what you want to do?"
00:27:04.62\00:27:06.69
Invariably, we say cancel it.
00:27:06.72\00:27:09.52
Cancel that part of it
00:27:09.56\00:27:10.89
and invest over
here instead of here.
00:27:10.93\00:27:13.50
So that part of the investment,
00:27:13.53\00:27:15.66
where you feel
very comfortable with,
00:27:15.70\00:27:17.73
we've been able to offer.
00:27:17.77\00:27:22.10
And it's variable.
00:27:22.14\00:27:24.21
It's not a guaranteed rate,
00:27:24.24\00:27:25.64
but it's been somewhere
between four and five percent
00:27:25.67\00:27:30.11
for the last several years.
00:27:30.15\00:27:32.18
Now that varies during the year,
00:27:32.21\00:27:34.65
and how we do it is to
take 12 months of interest
00:27:34.68\00:27:38.55
and divide it by 12.
00:27:38.59\00:27:40.52
And that's our
annual percentage rate.
00:27:40.56\00:27:43.19
In 2013, we paid 4.54 percent.
00:27:43.22\00:27:48.60
2014, we paid 5.40 percent.
00:27:48.63\00:27:54.40
In December of 2014,
we paid 9.40 percent.
00:27:54.44\00:28:02.08
And I had calls from everybody
saying, "You made a mistake."
00:28:02.11\00:28:06.21
We got twice as
much as we normally get.
00:28:06.25\00:28:10.19
We say that was the return
on the investment in December.
00:28:10.22\00:28:13.66
And, you know, you
have a Christmas present
00:28:13.69\00:28:17.59
and so we can't tell
you that's gonna happen.
00:28:17.63\00:28:20.90
Right.
00:28:20.93\00:28:22.26
But our history
has been very good.
00:28:22.30\00:28:24.53
God is being good to
our investment portfolio.
00:28:24.57\00:28:27.27
Praise the Lord.
00:28:27.30\00:28:28.64
Now let me pull
in Attorney Benton.
00:28:28.67\00:28:30.74
How does those
numbers, 4. x percent, 5.--
00:28:30.77\00:28:35.34
how does that compare with just
putting your money in a bank
00:28:35.38\00:28:37.48
and kind of letting it
sit there in a savings account
00:28:37.51\00:28:39.28
or a passbook
account or even a CD?
00:28:39.31\00:28:41.48
One and two,
00:28:41.52\00:28:42.95
if something catastrophic
happened in my life,
00:28:42.98\00:28:47.06
my family, roof blows
off, tornado comes through,
00:28:47.09\00:28:49.59
can I get that money back?
00:28:49.62\00:28:50.96
Walk me through
that part of it. Sure.
00:28:50.99\00:28:53.16
Well, you know,
the last-- since 2008,
00:28:53.19\00:28:55.63
the interest
rate in this country
00:28:55.66\00:28:57.37
has been greatly diminished.
00:28:57.40\00:28:59.73
If you are getting one percent
00:28:59.77\00:29:02.27
from a bank for a
savings account or a CD,
00:29:02.30\00:29:05.37
that's about
what you're gonna get.
00:29:05.41\00:29:06.88
So here's-- the numbers
for 3ABN are just outstand.
00:29:06.91\00:29:10.38
I mean, you are
getting four times
00:29:10.41\00:29:11.91
of what you are getting
in the rest of the market.
00:29:11.95\00:29:14.45
So right now, it's the best
place to put your fixed dollars
00:29:14.48\00:29:20.22
there's none that can beat it.
00:29:20.26\00:29:21.89
Now the other answer
is, can you get it? Yes.
00:29:21.92\00:29:25.53
I mean, it's not a
savings account as such,
00:29:25.56\00:29:30.43
but you are
expected to leave it there,
00:29:30.47\00:29:32.10
but yes, if you
have an emergency,
00:29:32.13\00:29:33.47
you can get it
anytime you want to, period.
00:29:33.50\00:29:35.84
I just want to add something
to what Barry just said.
00:29:35.87\00:29:38.97
He says you can get
it anytime you want.
00:29:39.01\00:29:41.54
There is one
clause in the contract
00:29:41.58\00:29:43.65
that confuses people sometimes,
and I need to mention it
00:29:43.68\00:29:47.28
because a lot of
people misunderstand
00:29:47.32\00:29:50.15
and we don't like
misunderstandings.
00:29:50.19\00:29:52.55
That's the worst
thing that can happen to us.
00:29:52.59\00:29:55.69
There is a clause that says
00:29:55.72\00:29:57.13
if you become
incapacitated, or...
00:29:57.16\00:30:01.70
not able to make
decisions in anyway,
00:30:01.73\00:30:04.73
that the trust becomes
irrevocable at that point.
00:30:04.77\00:30:09.64
And people see that as 3ABN
taking the money at that point.
00:30:09.67\00:30:15.04
We say, no. It's
not what happens.
00:30:15.08\00:30:18.68
The money
belongs to the cash trust
00:30:18.71\00:30:23.08
and to the individual
that put their money in.
00:30:23.12\00:30:26.22
Until they pass away,
that money remains with them.
00:30:26.25\00:30:30.56
And the power of attorney...
00:30:30.59\00:30:33.33
attorney, in fact, same thing,
cannot ask for that money.
00:30:33.36\00:30:37.70
They cannot make any
changes to that trust.
00:30:37.73\00:30:40.67
And the reason we do that
00:30:40.70\00:30:42.70
is because you
might be in a car accident
00:30:42.74\00:30:44.87
and for six months
you might be in a coma.
00:30:44.91\00:30:48.88
And then you
come out of the coma
00:30:48.91\00:30:50.58
and you regain your
senses and live a normal life
00:30:50.61\00:30:53.72
and you say, "What
happened to the money?"
00:30:53.75\00:30:56.32
My money, yeah.
00:30:56.35\00:30:57.69
Well, the power
of attorney took it.
00:30:57.72\00:31:00.29
And we know this
doesn't happen very often,
00:31:00.32\00:31:02.09
but occasionally, it happens
00:31:02.12\00:31:04.16
and the money is
used for something else,
00:31:04.19\00:31:06.70
other than that individual.
00:31:06.73\00:31:09.23
So this is a
protection for the individual,
00:31:09.26\00:31:12.57
as long as the money is
there, we will pay the bills.
00:31:12.60\00:31:16.67
The power of
attorney works with us,
00:31:16.71\00:31:18.87
and we pay those
bills out of the trust
00:31:18.91\00:31:21.21
as long as there's
money in the trust.
00:31:21.24\00:31:23.41
And we pay a lot of things.
00:31:23.45\00:31:25.48
Earlenne takes care
of a lot of that. Yeah.
00:31:25.51\00:31:27.78
So all they have to do is
notify us, we pay the bills.
00:31:27.82\00:31:32.02
But we don't send
money out of the trust
00:31:32.05\00:31:33.99
to the power of attorney.
00:31:34.02\00:31:35.36
Got you. Got you. So I
need to make that clear.
00:31:35.39\00:31:37.93
That's the only exception.
00:31:37.96\00:31:39.66
Okay, so Senez, Sonia,
Attorney Barry has said
00:31:39.69\00:31:43.97
this is not a savings account.
00:31:44.00\00:31:45.33
So this is not the
money you are planning on
00:31:45.37\00:31:46.70
needing next week or next month.
00:31:46.74\00:31:48.34
Barring something catastrophic,
00:31:48.37\00:31:49.90
this is not something
you want to be going in
00:31:49.94\00:31:51.47
and nibbling and
then going back and forth.
00:31:51.51\00:31:53.14
You put it in with the
intent of leaving it there.
00:31:53.17\00:31:55.34
That is a plan.
00:31:55.38\00:31:57.91
And when we do trust like this,
00:31:57.95\00:32:01.02
most of our
documents, the trust,
00:32:01.05\00:32:04.45
property trust and a cash trust,
00:32:04.49\00:32:06.72
the minimum to
3ABN is 25 percent.
00:32:06.76\00:32:11.49
You can give a 100
percent if you want.
00:32:11.53\00:32:13.46
But the minimum is 25 percent.
00:32:13.50\00:32:16.40
That leaves you
75 percent to divide
00:32:16.43\00:32:18.73
among family
members or other ministries.
00:32:18.77\00:32:21.30
However you want
to divide the money?
00:32:21.34\00:32:23.41
This works with the cash trust
as well as the property trust.
00:32:23.44\00:32:27.14
Now that's part of
the signed document,
00:32:27.18\00:32:29.81
minimum 25 percent?
00:32:29.84\00:32:31.18
Yes. You can go
higher, of course.
00:32:31.21\00:32:32.55
Oh, you can go
higher. Okay, okay.
00:32:32.58\00:32:34.28
Yes. Is there a great--
00:32:34.32\00:32:35.65
If you wanted to give us
100 percent of your estate,
00:32:35.68\00:32:37.65
we'd say, okay.
00:32:37.69\00:32:39.02
Praise the Lord.
Yes, praise the Lord.
00:32:39.05\00:32:41.86
And sign on the line.
00:32:41.89\00:32:43.22
All right, we've kind of
looked at what seems to me
00:32:43.26\00:32:46.43
to be the
simplest of the documents,
00:32:46.46\00:32:47.83
which is the cash trust.
00:32:47.86\00:32:49.20
Right.
00:32:49.23\00:32:50.57
Does it get
much more complicated
00:32:50.60\00:32:51.93
when you are
dealing with property?
00:32:51.97\00:32:53.70
It really doesn't, because
you're naming beneficiaries
00:32:53.74\00:32:56.71
and usually that's
the most difficult part.
00:32:56.74\00:32:59.31
People have a hard time,
sometimes trying to figure out
00:32:59.34\00:33:02.48
who those
beneficiaries should be.
00:33:02.51\00:33:04.58
They might have grandchildren,
they might have children and,
00:33:04.61\00:33:08.25
you know, where do
you they that money to go.
00:33:08.28\00:33:10.59
So a lot of the
arguments that happen
00:33:10.62\00:33:12.49
between spouses
is who gets money.
00:33:12.52\00:33:17.13
And that's usually, you know,
00:33:17.16\00:33:20.80
once they come to
a decision on that,
00:33:20.83\00:33:22.86
it usually runs pretty smooth.
00:33:22.90\00:33:25.43
Land, the deeds
sometimes we find
00:33:25.47\00:33:28.27
when we go to put
the deeds into the trust,
00:33:28.30\00:33:31.81
there's problems with the deeds.
00:33:31.84\00:33:34.64
And here, lately we've
discovered a lot of situations
00:33:34.68\00:33:38.61
where we've got a clear up
00:33:38.65\00:33:39.98
before we can
complete that trust
00:33:40.02\00:33:42.18
and make sure everything is...
00:33:42.22\00:33:44.19
So you do that on the
front end to make sure that
00:33:44.22\00:33:46.29
there's not a lot of
hindrances or impedance
00:33:46.32\00:33:48.86
to moving this thing along.
00:33:48.89\00:33:50.49
For the trustee at the
end, that's all done upfront,
00:33:50.53\00:33:53.56
it makes the
distribution smooth.
00:33:53.60\00:33:56.87
They don't have a
thing to worry about. Okay.
00:33:56.90\00:33:59.10
So we've talked about
trusts that are revocable.
00:33:59.13\00:34:02.17
What kinds of
trusts are irrevocable?
00:34:02.20\00:34:05.81
Well, we don't get into too
many of the irrevocable trust.
00:34:05.84\00:34:11.38
We do have something called
00:34:11.41\00:34:12.88
a Charitable Remainder Unitrust.
00:34:12.91\00:34:16.08
It's called CRUT.
00:34:16.12\00:34:17.52
Yes, I... I hate
to say that word.
00:34:17.55\00:34:19.45
I do too.
00:34:19.49\00:34:22.36
It just has a hard sound to
it. It does, indeed it does.
00:34:22.39\00:34:25.43
But it's a
Charitable Remainder Unitrust.
00:34:25.46\00:34:28.63
The key word is charitable.
00:34:28.66\00:34:30.50
And I would
defer to our attorney,
00:34:30.53\00:34:33.94
because sometimes these things
can get pretty complicated.
00:34:33.97\00:34:37.97
And Barry,
probably, can give it to us
00:34:38.01\00:34:42.04
in a very succinct manner,
better than I-- I can do it.
00:34:42.08\00:34:46.68
But I like to hear
it from our attorney.
00:34:46.72\00:34:48.42
Very good. We
pay him good money.
00:34:48.45\00:34:50.22
Sure, I'll be glad
to do the unitrust.
00:34:52.99\00:34:56.09
I have one myself.
00:34:56.12\00:34:57.46
My son-- my wife and I have one.
00:34:57.49\00:34:59.86
It usually
starts when someone has
00:34:59.89\00:35:02.20
a greatly appreciated
piece of property, real estate,
00:35:02.23\00:35:05.47
or they have stocks,
bonds or mutual funds
00:35:05.50\00:35:07.64
that have
appreciate over the years.
00:35:07.67\00:35:09.50
If they sold those,
either the real estate
00:35:09.54\00:35:12.44
and or the stocks and
bonds and mutual funds,
00:35:12.47\00:35:16.41
they will be paying
a large capital gain.
00:35:16.44\00:35:18.75
So there are four
things that really--
00:35:18.78\00:35:21.78
CRTs, the Charitable Remainder
Unittrust can do for you.
00:35:21.82\00:35:26.05
Number one, you can
get a lifetime income,
00:35:26.09\00:35:28.16
either for 20 years
00:35:28.19\00:35:29.52
or lifetime income, your choice.
00:35:29.56\00:35:32.03
Number two, you get
a large tax deduction
00:35:32.06\00:35:35.40
at the very
beginning of the trust.
00:35:35.43\00:35:39.90
Your capital gain that you
would have paid is differed
00:35:39.93\00:35:44.44
and you only pay it as
you get money from the trust.
00:35:44.47\00:35:48.11
You get lifetime
income or 20 year income
00:35:48.14\00:35:50.45
for you and your spouse, as
long as one of you is alive.
00:35:50.48\00:35:53.55
And the fourth thing it does is
it really provides a mechanism
00:35:53.58\00:35:58.25
to show your belief that
00:35:58.29\00:36:04.26
Three Angels Broadcasting system
00:36:04.29\00:36:06.13
is doing what you wanted to do.
00:36:06.16\00:36:07.50
It reaffirms
your support for them.
00:36:07.53\00:36:09.46
So at your death or
the death of your spouse,
00:36:09.50\00:36:13.44
the death of the last
of you, it would go to 3ABN
00:36:13.47\00:36:16.81
and you would pay no state
tax or gift tax for that money.
00:36:16.84\00:36:23.61
So the CRT is valuable because
it does those four objectives,
00:36:23.65\00:36:30.19
and it does it really
well and fairly simply.
00:36:30.22\00:36:32.49
Yeah. It seems though...
00:36:32.52\00:36:34.16
The catch is that
00:36:34.19\00:36:36.49
it's permanent,
it's irrevocable,
00:36:36.52\00:36:37.99
doesn't come back, once
you write it, it's done.
00:36:38.03\00:36:39.83
It's done. Yeah. Right.
00:36:39.86\00:36:41.20
And you know when
you write the trust,
00:36:41.23\00:36:44.67
how much money you are
going to get within reason,
00:36:44.70\00:36:48.84
it can fluctuate a bit.
00:36:48.87\00:36:50.47
But it's fairly
consistent as you go through.
00:36:50.51\00:36:53.48
And you know the tax benefits
right upfront, computation...
00:36:53.51\00:36:58.05
The attorney
actually does the computation.
00:36:58.08\00:37:01.28
And that computation shows
you everything you need to know.
00:37:01.32\00:37:04.92
You can hand that
to your tax person
00:37:04.95\00:37:07.49
and they can see
exactly how it's to perform.
00:37:07.52\00:37:11.93
So if you bought a
piece of property, say,
00:37:11.96\00:37:14.03
out in the swamps of Florida
00:37:14.06\00:37:15.63
and one day Disney
World pops up next to you,
00:37:15.66\00:37:19.77
that thing is appreciated a lot.
00:37:19.80\00:37:22.00
So you might want to get
that taken care of so that...
00:37:22.04\00:37:25.71
Because if you sold that,
00:37:25.74\00:37:27.08
you would pay the difference
between what you paid for
00:37:27.11\00:37:28.71
and what it's selling price
is, and that's all capital gain.
00:37:28.74\00:37:31.75
That's capital gain. Yeah.
00:37:31.78\00:37:33.11
So you don't want
to take that yet? No.
00:37:33.15\00:37:34.48
So you want to...
Okay. Okay, that makes sense.
00:37:34.52\00:37:36.82
There's many people that tell me
00:37:36.85\00:37:38.99
they would rather pay
Three Angels Broadcasting
00:37:39.02\00:37:43.49
than the government.
00:37:43.53\00:37:45.89
You know, that's just
the statement they make.
00:37:45.93\00:37:47.66
I'm not making that
statement, they are making...
00:37:47.70\00:37:49.66
To which I say, amen.
00:37:52.63\00:37:54.24
Now I'm looking, our
time is getting away from us.
00:37:54.27\00:37:56.24
We've talked about trust.
00:37:56.27\00:37:58.64
Let's walk through
annuities, what they are?
00:37:58.67\00:38:01.71
Why would you do them?
What benefits there are?
00:38:01.74\00:38:04.15
You want to take or you want
to give it to your attorney?
00:38:04.18\00:38:05.95
I'll go ahead and take it,
because it's a simple document.
00:38:05.98\00:38:10.02
It's probably the most simple
document that we have to do.
00:38:10.05\00:38:13.92
There's a one page application,
and it all depends on your age
00:38:13.96\00:38:18.96
as to what your fixed
interest rate is going to be.
00:38:18.99\00:38:22.46
When you are 90 years old,
00:38:22.50\00:38:24.37
you get a fixed rate for
the rest of your life at 9%.
00:38:24.40\00:38:29.10
And we have to pay you
that until you pass away.
00:38:29.14\00:38:33.94
What happens to the
money when you pass away
00:38:33.98\00:38:36.54
is the balance comes to
Three Angels Broadcasting.
00:38:36.58\00:38:40.68
Now the Adventist
lifestyle tells us that,
00:38:40.72\00:38:44.69
you know, we tend to
live seven years longer.
00:38:44.72\00:38:49.16
So a person of 90 years old
might live to be a 100 plus.
00:38:49.19\00:38:54.36
So they know they
have that money coming in.
00:38:54.40\00:38:57.53
And we can't deviate.
00:38:57.57\00:39:00.54
They get a tax deduction for it.
00:39:00.57\00:39:02.60
If say-- let's
use the 100,000 again.
00:39:02.64\00:39:05.64
I'm gonna get
that out of you yet.
00:39:05.67\00:39:09.71
That 100,000 they put in
and they are going to get
00:39:09.74\00:39:13.88
a one time tax
deduction in the year
00:39:13.92\00:39:15.92
that they do the
annuity that they write it.
00:39:15.95\00:39:20.26
And then from then on,
00:39:20.29\00:39:21.62
the only payment that
fluctuates is the first one,
00:39:21.66\00:39:24.26
because it depends on the time
of the month that it's written.
00:39:24.29\00:39:28.16
And then every month after that
00:39:28.20\00:39:30.23
you're gonna get the
same payment, it doesn't...
00:39:30.27\00:39:33.00
So you know precisely
what your payment is gonna be,
00:39:33.03\00:39:36.67
because it doesn't...
the interest rate is fixed.
00:39:36.71\00:39:39.17
Right.
00:39:39.21\00:39:40.54
And we have, you
know, people say,
00:39:40.58\00:39:42.91
"How does that
help 3ABN right now?"
00:39:42.94\00:39:45.88
Again, this is all
a long range planning.
00:39:45.91\00:39:49.45
When the time comes,
the money comes to 3ABN.
00:39:49.48\00:39:53.25
Now the money that you're
earning from the interest rate,
00:39:53.29\00:39:56.02
we have a lot of
creative people out there.
00:39:56.06\00:39:58.89
Some people say, we're
gonna give it back to 3ABN
00:39:58.93\00:40:02.36
and that portion is
totally tax deductible.
00:40:02.40\00:40:08.20
One thing I forgot to say
00:40:08.24\00:40:10.34
is you get a one
time tax deduction.
00:40:10.37\00:40:12.84
Oh, okay.
00:40:12.87\00:40:14.21
And the interest payment
00:40:14.24\00:40:15.84
the majority of
that is tax free.
00:40:15.88\00:40:18.55
And you don't hear the
word free too much anymore.
00:40:18.58\00:40:21.28
No, you do not.
But it is tax free.
00:40:21.32\00:40:23.92
We do a computation
that shows you exactly
00:40:23.95\00:40:27.19
what part of that
is gonna be tax free.
00:40:27.22\00:40:30.23
But getting back to
our creative people...
00:40:30.26\00:40:34.30
We have people that say,
"You know, I have grandchildren
00:40:34.33\00:40:39.43
and I want to make sure
they have Christian education."
00:40:39.47\00:40:43.61
And they say the
interest payment that I earn
00:40:43.64\00:40:46.51
is gonna go to their school
00:40:46.54\00:40:48.44
to help fund part
of their education.
00:40:48.48\00:40:51.95
We have people that say,
00:40:51.98\00:40:53.92
"You know, someday I'm
gonna be in assisted living."
00:40:53.95\00:40:57.59
And we have people that buy
several annuities over time,
00:40:57.62\00:41:02.02
and the money that they
are earning on those annuities
00:41:02.06\00:41:05.69
helps pay for
their assisted living.
00:41:05.73\00:41:07.66
Now can that cheque be directed
00:41:07.70\00:41:09.53
to a particular
account, or do we have...
00:41:09.56\00:41:11.03
It has to go to them
00:41:11.07\00:41:13.60
and because
there's tax benefits.
00:41:13.64\00:41:16.87
So we have to
pay that individual,
00:41:16.91\00:41:18.94
and then they in-turn
pay whoever they want to pay.
00:41:18.97\00:41:21.64
I see. I see.
00:41:21.68\00:41:24.15
But people use the
money for a lot of things.
00:41:24.18\00:41:26.31
We even have people,
and this is exciting.
00:41:26.35\00:41:30.39
You have heard of "The
Blessing Is On The Go"?
00:41:30.42\00:41:32.99
Oh, yes.
00:41:33.02\00:41:34.36
We had a lady call in and say,
"Danny sent me a certificate.
00:41:34.39\00:41:39.23
I'm a evangelist now.
00:41:39.26\00:41:42.00
But I need
materials to hand out.
00:41:42.03\00:41:45.27
I want to do a trust, a
cash trust and earn money
00:41:45.30\00:41:49.10
so I can take the
money and go buy literature,
00:41:49.14\00:41:51.71
so I can go be an evangelist."
00:41:51.74\00:41:53.51
That's exciting stuff.
00:41:53.54\00:41:54.94
Yeah, it is. It really is.
00:41:54.98\00:41:56.31
You know, I get goose bumps
00:41:56.34\00:41:57.68
every time
something like that happens.
00:41:57.71\00:41:59.05
Now on that annuity,
00:41:59.08\00:42:01.65
you are placing a
sum of money with 3ABN
00:42:01.68\00:42:04.45
and you are
drawing interest from it.
00:42:04.49\00:42:05.95
That interest is paid monthly?
00:42:05.99\00:42:08.02
Fifty thousand or
less, we pay quarterly.
00:42:08.06\00:42:11.99
Unless you twist my arm. Yeah.
00:42:12.03\00:42:13.93
I've been known to acquiesce to
00:42:13.96\00:42:17.30
a little bit of arm twisting.
00:42:17.33\00:42:19.53
But the rule of thumb is
that anything under 50,000,
00:42:19.57\00:42:23.54
we pay quarterly,
00:42:23.57\00:42:24.91
anything over
50,000, we pay monthly.
00:42:24.94\00:42:27.51
You pay monthly. Right.
00:42:27.54\00:42:28.88
Can that money be... Is
that an irrevocable thing?
00:42:28.91\00:42:31.38
That is irrevocable.
00:42:31.41\00:42:32.75
You can't add to it
00:42:32.78\00:42:34.78
and you can't take away from it.
00:42:34.82\00:42:36.15
Okay. You just
took my next question.
00:42:36.18\00:42:37.85
So that I cannot
take my dividends
00:42:37.89\00:42:40.76
and roll them
back into the annuity?
00:42:40.79\00:42:43.53
No, you can't take your
payment from an annuity.
00:42:43.56\00:42:46.80
It's a fixed instrument.
00:42:46.83\00:42:48.30
So what's decided at the
initial writing of the annuity
00:42:48.33\00:42:54.64
that says what
you're going to get.
00:42:54.67\00:42:56.07
You can't turn it
back into the annuity.
00:42:56.10\00:42:59.04
But you can take the
money and donate it back to 3ABN
00:42:59.07\00:43:03.65
if you choose, but
that's your choice.
00:43:03.68\00:43:06.92
That payment is gonna go to you.
00:43:06.95\00:43:09.48
Okay, now is there an
age minimum or maximum
00:43:09.52\00:43:12.95
for the writing of an annuity?
00:43:12.99\00:43:14.32
Well, when you
look at the charts,
00:43:14.36\00:43:16.29
there's really
no age limitation.
00:43:16.32\00:43:19.06
But we do put an age
limitation on it of 65.
00:43:19.09\00:43:24.17
And the reason is if you
go anything less than that,
00:43:24.20\00:43:28.00
you're gonna be earning
for the rest of your life
00:43:28.04\00:43:30.17
maybe 2% or 3%.
00:43:30.21\00:43:32.64
And it's really
not fair to tie you
00:43:32.67\00:43:34.34
into that percentage
for the rest of your life.
00:43:34.38\00:43:37.15
What we do encourage you to
do is to start a cash trust.
00:43:37.18\00:43:42.38
And when the time comes,
00:43:42.42\00:43:44.22
you can be earning the interest.
00:43:44.25\00:43:45.89
You're gonna earn more
interest on a regular basis.
00:43:45.92\00:43:49.79
Still I have to say
it's not guaranteed,
00:43:49.82\00:43:51.59
but our history shows that
00:43:51.63\00:43:53.33
you can earn more
in that cash trust.
00:43:53.36\00:43:56.16
And every year we send out
a letter to each individual
00:43:56.20\00:43:59.87
that has a cash trust that says,
00:43:59.90\00:44:02.97
you know, you have a cash trust,
00:44:03.00\00:44:04.51
in that cash trust,
00:44:04.54\00:44:07.98
you can take
50,000 of that amount,
00:44:08.01\00:44:11.71
turn it into an annuity
and earn this much more.
00:44:11.75\00:44:16.48
So when you get older... Right.
00:44:16.52\00:44:18.25
That's where I was going, yeah.
00:44:18.29\00:44:19.62
Yeah, so if you're
older it is to your benefit
00:44:19.65\00:44:21.22
to go with the annuity,
00:44:21.26\00:44:22.59
because the older you
are the higher the return is.
00:44:22.62\00:44:24.69
That's correct.
And it's fixed return?
00:44:24.73\00:44:26.13
Right.
00:44:26.16\00:44:27.50
And we still have
you as a client with 3ABN
00:44:27.53\00:44:31.63
with that cash trust.
00:44:31.67\00:44:33.27
So your charitable
intent is there. Yeah.
00:44:33.30\00:44:35.97
And we just help
you down the road
00:44:36.00\00:44:38.07
and we never force anything.
00:44:38.11\00:44:40.11
A letter comes to you,
here's the information,
00:44:40.14\00:44:43.04
you make the decision.
00:44:43.08\00:44:44.61
Wow. Well done.
00:44:44.65\00:44:46.55
So when you call the
department and you're like men,
00:44:46.58\00:44:49.75
you have no idea about anything.
00:44:49.78\00:44:52.02
You guys are
patient and loving enough
00:44:52.05\00:44:53.39
to kind of walk us through it
without applying any pressure.
00:44:53.42\00:44:55.79
Right.
00:44:55.82\00:44:57.16
And we answer
questions over and over again.
00:44:57.19\00:44:59.26
Sometimes, you
know, as we get older,
00:44:59.29\00:45:02.26
we have to ask questions.
00:45:02.30\00:45:03.73
I have to ask
questions more than I used to,
00:45:03.77\00:45:06.60
and that may be a
good thing, I don't know.
00:45:06.63\00:45:10.74
But whatever it takes
to answer your question,
00:45:10.77\00:45:14.01
we will do it.
00:45:14.04\00:45:15.54
And people will call us
back the next week and say,
00:45:15.58\00:45:18.58
"Would you repeat?"
00:45:18.61\00:45:19.95
They apologize for calling back.
00:45:19.98\00:45:21.32
We say, don't worry about
it, we're here to help you.
00:45:21.35\00:45:24.49
And there's never any
arm twisting to do it.
00:45:24.52\00:45:28.89
Now the only time we
may arm-twist a little bit
00:45:28.92\00:45:31.73
is in the
preparation of documents.
00:45:31.76\00:45:34.13
If something goes out
there for long periods of time,
00:45:34.16\00:45:37.77
you've got a document
that needs to be signed.
00:45:37.80\00:45:39.83
We'll call and
say, "Hey, you know,
00:45:39.87\00:45:41.50
if you really want to do this,
you got to sign the document."
00:45:41.54\00:45:45.27
Yeah, yeah. And
sometimes that happens.
00:45:45.31\00:45:48.54
People
procrastinate on both ends,
00:45:48.58\00:45:51.18
beginning and
getting things done.
00:45:51.21\00:45:54.35
So we might
arm-twist a little bit there,
00:45:54.38\00:45:56.05
but not during the document.
00:45:56.08\00:45:57.52
Yeah, now let me
ask you this question.
00:45:57.55\00:45:58.89
And it may be an
ignorant question, I don't know.
00:45:58.92\00:46:01.59
We of course are
located in Illinois.
00:46:01.62\00:46:03.99
Does it matter what
state I'm calling from
00:46:04.03\00:46:06.13
or where the beneficiary lives,
00:46:06.16\00:46:08.06
is there any
variation state to state?
00:46:08.10\00:46:10.83
Okay, that's an
interesting question,
00:46:10.87\00:46:13.87
because on the annuities,
00:46:13.90\00:46:16.50
we cannot write annuities
in the State of Washington,
00:46:16.54\00:46:19.61
in the State of Alabama,
and outside the United States.
00:46:19.64\00:46:25.65
And I say that carefully,
00:46:25.68\00:46:27.02
because we have a lot of
00:46:27.05\00:46:28.38
American citizens living abroad.
00:46:28.42\00:46:31.32
If they have a
social security number
00:46:31.35\00:46:33.69
and they have an American bank,
00:46:33.72\00:46:35.92
then we can do the
trust, I mean the annuity.
00:46:35.96\00:46:39.63
Because the annuity,
you get tax benefits,
00:46:39.66\00:46:42.60
and it's IRS that dictate
how we operate with an annuity.
00:46:42.63\00:46:48.74
So that is government,
00:46:48.77\00:46:50.17
you know, every country
out there has different laws.
00:46:50.21\00:46:53.44
And the laws on the annuity
00:46:53.48\00:46:54.94
are governed by
the United States.
00:46:54.98\00:46:57.05
Oh, I see, I see.
00:46:57.08\00:46:58.41
Let me ask this question,
00:46:58.45\00:46:59.78
and this just popped in
my mind, not in my notes.
00:46:59.81\00:47:02.22
What if a person
has a piece of property
00:47:02.25\00:47:03.89
outside of the United States?
00:47:03.92\00:47:06.39
Is there any way they
can get the benefits of that
00:47:06.42\00:47:08.32
to 3ABN by trust or by...?
00:47:08.36\00:47:10.43
We encourage them to call.
00:47:10.46\00:47:12.69
And that's when I say,
they tell us what it is,
00:47:12.73\00:47:15.26
where it's located.
00:47:15.30\00:47:16.97
And I will call Barry and
say, "Barry, can we do this?"
00:47:17.00\00:47:22.30
And in one particular case,
00:47:22.34\00:47:24.04
there was property
out of the country.
00:47:24.07\00:47:26.21
And he looked, he
says, "Yes, we can."
00:47:26.24\00:47:28.81
And I love that
kind of news, you know.
00:47:28.84\00:47:31.68
I love when an
attorney says yes.
00:47:31.71\00:47:34.18
And he's enthusiastic about it.
00:47:34.22\00:47:37.69
It's a double win. Yes, indeed.
00:47:37.72\00:47:40.32
Yeah, I know someone
that has some property
00:47:40.36\00:47:42.06
that they want
to send it to 3ABN.
00:47:42.09\00:47:44.16
They are outside of the country.
00:47:44.19\00:47:46.33
And I don't know if it's
better for them to just sell it
00:47:46.36\00:47:48.73
and send the
money or just deed it
00:47:48.76\00:47:50.60
or put it in a trust
and just do it that way.
00:47:50.63\00:47:53.67
Right, sometimes it is better,
00:47:53.70\00:47:55.77
and we tell
people this all the time.
00:47:55.80\00:47:57.77
Sell the property and then
we can possibly do a document.
00:47:57.81\00:48:02.21
If not, they can always donate.
00:48:02.24\00:48:04.55
They can go online
and donate through PayPal.
00:48:04.58\00:48:07.88
Okay. That's very easy.
00:48:07.92\00:48:09.95
That's not really in our area,
00:48:09.98\00:48:11.55
but when people want to
donate, that can be done.
00:48:11.59\00:48:14.49
Praise the Lord.
00:48:14.52\00:48:15.86
So Senez, Sonia,
when you're ready
00:48:15.89\00:48:17.23
to unload that 100-room mansion
00:48:17.26\00:48:18.73
you have there in
Puerto Rico on the water,
00:48:18.76\00:48:20.50
we can do something with
that. I will think about it.
00:48:20.53\00:48:24.93
You have to have that
property first though.
00:48:24.97\00:48:29.40
Is there any other
thing that we left out?
00:48:29.44\00:48:31.41
Because we tried to
walk through the major ones
00:48:31.44\00:48:34.61
that would benefit the
viewers and supporters of 3ABN?
00:48:34.64\00:48:39.05
We get a lot of calls,
people have their 401(k)s, IRS,
00:48:39.08\00:48:45.25
and they want to take the money
00:48:45.29\00:48:46.65
from those
financial institutions
00:48:46.69\00:48:50.09
and they call it
rolling it over to 3ABN.
00:48:50.13\00:48:54.20
Unfortunately, IRS doesn't
allow a commercial IRA 401(k)
00:48:54.23\00:49:00.50
to roll over to any charity.
00:49:00.54\00:49:02.17
It's not only 3ABN,
it's to any charity.
00:49:02.20\00:49:06.14
You know what the reason is?
00:49:06.17\00:49:08.48
Because they haven't
paid taxes on that money.
00:49:08.51\00:49:11.08
And the government says,
00:49:11.11\00:49:12.45
"Hey, if 3ABN gets it,
they still don't pay taxes."
00:49:12.48\00:49:16.08
And we want a
piece of that action.
00:49:16.12\00:49:19.39
So the answer is,
no, you can't roll over.
00:49:19.42\00:49:23.46
Now some people choose,
and we don't encourage it,
00:49:23.49\00:49:26.66
but people make the decision.
00:49:26.70\00:49:28.66
We'd rather pay a little
bit of penalty to the government
00:49:28.70\00:49:33.80
in the form of taxes,
have that money come to us,
00:49:33.84\00:49:38.11
and they in turn do a document
with us with that money.
00:49:38.14\00:49:42.34
But it can't be rolled over.
00:49:42.38\00:49:44.11
We don't encourage it
because the taxes are high
00:49:44.15\00:49:47.58
when you take money out
of a document like that.
00:49:47.62\00:49:51.52
So-- but some people
say, "We want to do it."
00:49:51.55\00:49:55.12
And somebody is
bent on doing something,
00:49:55.16\00:49:58.09
very seldom that
we stand in their way.
00:49:58.13\00:50:00.20
Yes. Yeah, yeah.
00:50:00.23\00:50:01.56
Let me lay
something on you, man.
00:50:01.60\00:50:02.93
It's not in my
notes, and Attorney Benton,
00:50:02.96\00:50:04.40
please weigh in on this because
we're hearing this a lot, Roy.
00:50:04.43\00:50:07.94
The reverse mortgage,
00:50:07.97\00:50:09.64
is that something
that we involve ourselves,
00:50:09.67\00:50:11.41
and the look on
your face says we do not.
00:50:11.44\00:50:13.84
Because I don't understand
it to be honest with you,
00:50:13.88\00:50:16.01
but I hear it
advertised over and over again.
00:50:16.04\00:50:18.81
Is that something
that we even touch
00:50:18.85\00:50:20.72
or get involved with
or-- Walk us through that.
00:50:20.75\00:50:22.85
I'll answer first and
I'll let Barry follow up. Yeah.
00:50:22.88\00:50:25.65
Because a reverse mortgage
00:50:25.69\00:50:27.46
pretty much takes
it out of our hands.
00:50:27.49\00:50:29.92
If it's in a trust,
00:50:29.96\00:50:32.29
we have to take
it out of the trust
00:50:32.33\00:50:34.86
for that
reverse mortgage company
00:50:34.90\00:50:36.56
to be able to
process the paperwork.
00:50:36.60\00:50:40.47
We let people know to make...
00:50:40.50\00:50:44.84
We tell them, make sure
you understand everything
00:50:44.87\00:50:48.38
there is to know
about that reverse mortgage.
00:50:48.41\00:50:51.48
It's costing them
a lot of money. Yeah.
00:50:51.51\00:50:53.62
I'm finding out
people are saying,
00:50:53.65\00:50:54.98
"I wish I had not,
00:50:55.02\00:50:56.35
and I didn't know
when I was signing."
00:50:56.38\00:50:57.72
That's right, and I had
one lady telling me, she says,
00:50:57.75\00:50:59.09
"I'm in a reverse mortgage,
can you get me out of it?"
00:50:59.12\00:51:02.06
But we can't do a thing.
00:51:02.09\00:51:03.73
Maybe an attorney
can, I don't know. Yeah.
00:51:03.76\00:51:06.16
But, Barry, can you
elaborate a little more? Yes.
00:51:06.19\00:51:09.63
I have done a number of
reverse mortgages for clients.
00:51:09.66\00:51:13.94
And because they have
looked at it, they say,
00:51:13.97\00:51:17.34
"You know, right now,
we need this money now,"
00:51:17.37\00:51:19.67
for whatever
reason that they give.
00:51:19.71\00:51:23.61
But you are paying a high price.
00:51:23.65\00:51:25.61
I figured you're
paying at least 9% or 10%.
00:51:25.65\00:51:28.38
Oh, wow. Yeah.
So it is reversible.
00:51:28.42\00:51:31.89
But it costs
serious damage to do so.
00:51:31.92\00:51:34.49
In the way the
reverse mortgage works,
00:51:34.52\00:51:37.19
you know, a normal mortgage is,
00:51:37.23\00:51:39.06
you are paying
down the principle.
00:51:39.09\00:51:41.00
So if it's $100,000
mortgage and you pay $500,
00:51:41.03\00:51:46.50
there's something
coming off of that principle.
00:51:46.53\00:51:48.87
With a reverse mortgage,
00:51:48.90\00:51:50.24
you are adding
money to that figure.
00:51:50.27\00:51:52.11
Oh, wow.
00:51:52.14\00:51:53.48
So it continues to
escalate over the years.
00:51:53.51\00:51:55.74
Most people don't understand
that part of it. Yeah.
00:51:55.78\00:51:58.38
I don't see
something that benefit,
00:51:58.41\00:52:00.25
so we'd want to
even get entangled with.
00:52:00.28\00:52:02.88
We've brought a
lot of stuff to you
00:52:02.92\00:52:04.29
and thrown a
lot of stuff at you.
00:52:04.32\00:52:06.19
Our Planned Giving and
Trust Services department
00:52:06.22\00:52:09.09
is open during
regular business hours.
00:52:09.12\00:52:11.53
This is a good bunch of people.
00:52:11.56\00:52:12.89
They are kind, they are patient.
00:52:12.93\00:52:15.16
This is a good face.
You can deal with that face.
00:52:15.20\00:52:17.87
And, he's a nice
guy, as is his wife,
00:52:17.90\00:52:20.40
as is everyone
in that department.
00:52:20.44\00:52:22.27
Should you want to
make contact with our
00:52:22.30\00:52:23.97
Planned Giving and
Trust Services department,
00:52:24.01\00:52:26.04
here is the
information that you will need.
00:52:26.07\00:52:30.05
If you would like to
know more about Trust Services
00:52:30.08\00:52:32.58
or if you have any
questions, then you can write
00:52:32.61\00:52:34.95
to 3ABN Planned
Giving and Trust Services,
00:52:34.98\00:52:38.32
Post Office Box 220,
00:52:38.35\00:52:39.95
West Frankfort, Illinois, 62896.
00:52:39.99\00:52:43.26
That's 3ABN Planned
Giving and Trust Services,
00:52:43.29\00:52:46.73
Post Office Box 220,
00:52:46.76\00:52:48.53
West Frankfort, Illinois, 62896.
00:52:48.56\00:52:51.70
You can call 800-886-4800.
00:52:51.73\00:52:55.20
That's 800-886-4800.
00:52:55.24\00:52:58.64
Or email them at
trustservices@3abn.org.
00:52:58.67\00:53:04.18
That's trustservices@3abn.org.
00:53:04.21\00:53:09.25
Call or write to them today.
00:53:09.28\00:53:11.59