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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Removing pain
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Lord, 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 CA Murray.
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And allow me once again
to thank you for spending
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just a little of your
no doubt busy day with us
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to thank you as always
for your love, your prayers,
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your support of Three
Angels Broadcasting Network.
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We realize that we could
not do what we are called to do
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without your partnership,
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so we thank you from
the bottom of our hearts.
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I'm excited today,
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because of the subject matter
and because of the people.
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I won't say guests because
they're really family members
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who are with me.
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I always have a good
time with Roy Hunt to my left
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and Earlenne Hunt to my right.
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Yes, I am coming
between husband and wife,
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but it's just
for a little while.
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For this program
we're gonna be talking
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about Planned
Giving and Trust Services,
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and I'm gonna introduce
Barry Benton in just a moment.
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But Roy is our director
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of Planned Giving
and Trust Services.
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And you've been how
many years down here?
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I've been here
seven and a half years.
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Really? Has it?
It's hard to believe.
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Yes, time has really gone fast.
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Seems like just yesterday I
was talking with Barry Benton
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and he was kind
of cluing me in as to
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what Planned
Giving was all about,
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and I'm the director.
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Yeah, you...
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You've a quick study, did you?
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Seven and half years
later, I still depend on Barry.
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Our third guest is
Attorney Barry Benton,
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who I'm told is
technically retired,
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technically retired.
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Technically. Technically.
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Yes, and we'll get
back to that technically
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in just a little bit.
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But Earlenne Hunt works
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in the Trust Services department
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and does it very, very well.
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These are fun people.
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Sometimes when you're talking
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about Planned
Giving and Trust Services,
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you're thinking, "Well, okay,
they're talking about death,
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what's gonna happen when I die,
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and what I'm
gonna do with my money?"
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But these two individuals
make the process easy,
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they make it fun,
they are articulate,
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they know what
they're talking about,
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and can make what can be
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a confusing process very simple,
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and very easy to understand,
and very easy to manage.
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So every now and again,
we'd like to bring them back,
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and let you see them
and let them speak to you,
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so that you can know how
you can help this ministry
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move forward on
a long-term basis
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to help the ministry do
what God has called us to do.
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Roy, I wanna start
with you for just a moment
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because we're gonna go to
some music in just a moment.
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But this is not your first stint
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at doing this kind of thing,
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you came from, from where?
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I came from the
Voice of Prophecy,
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the Adventist Media Center.
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And I actually was not in charge
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of the Planned Giving and
Trust Services department,
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I was actually...
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They reported to me
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and certain
questions I had to answer
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and sign off on.
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But here at 3ABN,
we're actually in the mix
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of developing the
different documents
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that we do,
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making sure
everything runs smoothly,
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and then when the time
comes administer the estate.
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I see.
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So it's a whole
different ballgame
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so to speak for me.
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Indeed.
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But after seven
and a half years,
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we've gotten into a routine
that we feel comfortable with
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and people feel
comfortable with us.
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And that's a testimony
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to the good Lord
in His guidance...
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Praise the Lord. In helping us.
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Let me ask you a question
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and then I wanna also
give this to Earlenne too.
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Actually one of those kind
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of high concept
ontological questions
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we throw out in and out again.
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A what?
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Work with me, Roy. Stay with me.
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But here's the question.
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Why is it...? You
know, we see why you're...
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What you do is so very
important to this ministry
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to the long-term
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financial
stability of any ministry.
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But why is it important
in an individual's life,
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the people that sit
across the desk from you,
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why is it
important to them, for them,
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to take a look
at what they have,
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and what they're gonna
have, and what's gonna happen
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when they leave?
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Why is that an important
part, a crucial part of life?
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The important...
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Number one important
aspect of doing a document,
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trust, and a will is for
the security of your estate
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when you pass away.
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And I always hate to
mention that word pass away,
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but the Lord says,
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we need to be good
stewards of our money,
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of our property, and
stewardship is planning.
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And for anybody
that does a trust knows
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once it's
completed, they feel very good
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about what they've done.
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It's all set, plans are
made so when the time comes,
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there's not a lot of rush.
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"Oh, we should have done
this, we should have done that,"
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among family members.
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And it helps the
family, it helps the trustee,
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the executor to know what
mom and dad really wanted.
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So it's something that
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is almost a feel
good part of your life.
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When you're done,
you feel good about it,
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and statistics prove
that you live longer.
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Okay.
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So rather than
building up a lot of anxiety,
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once you get
through the process,
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you actually can kind of exhale
and relax because it's done,
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it's taken care of.
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The old myth or meth.
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It's been around
a long time. Indeed.
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Is that when you
do a trust or will,
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you're gonna pass away.
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That's just not
true. Yeah. Yeah.
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So we can
dispel that right away.
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We can dispel that, go
ahead and do it, get started,
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and feel good about it.
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Yeah. Yeah.
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Earlenne, I suspect
if that's true for guys,
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for husbands, for
fathers, for heads of household,
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once a woman has
maybe lost her husband
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or is in that kind...
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I guess, it's even
more so for a woman
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to get that
kind of thing settled
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and get it kind of
out of the way and done?
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I think that's very true.
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And I think that's true
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because so often men
have taken care of everything
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and the girls have
appreciated their husbands
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for what they've done for them.
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And all of a sudden
they wake up and say,
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"Oh, dear, my husband
used to do all of this.
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I saw the program,
quick, let's dial Earlenne."
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And I do get a lot
of the women's calls.
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Go ahead and
call me, I enjoy it.
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But I want to tell the women
that it is an easy process,
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it's not
difficult, I'm more than happy
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to walk through the
process with each one of you,
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just give me a call.
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And I also
appreciate women when you call
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that you've been
watching one of our programs
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and you've also said,
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"You know, I just feel special
after watching this program
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and my charitable
intent is very high."
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Isn't that
beautiful? It is. It is.
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My charitable
intent is very high
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and that's what
brings donors to 3ABN
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is because they
love the program,
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they know that the ministry
has been good for many years,
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and evangelism
is well and alive.
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So this is a reason
to start the documents.
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Yeah.
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And then there's
all the reasons of,
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you need extra
cash for something?
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Maybe you hadn't
thought about when you retire
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that you're going to
need to pay health insurance
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because Medicare, Medicaid
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and all the rest
don't pay at all.
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Set aside a little
money that interest might be
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just enough to get that document
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for you that you
need, or that insurance...
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I should say with that document.
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And, of course, we
do a special program
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that kind of just skews yourself
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to women's
concerns and the things
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that they would
have on their minds also
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so basically
they're covered also.
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That's right. Yeah.
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Yes, definitely
the women are covered.
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And the younger
women, while an annuity
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is not good for them
yet, a trust definitely is,
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so we'll talk
about that later too.
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Because the
younger women want to know,
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where should I get started
if I'm gonna be thinking ahead
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to my older years
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or if a husband happens
to die from an accident?
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Are you ready?
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Women if you're not ready
and you have made those plans,
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call me, we can work on that.
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I like that.
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Attorney Benton,
is that ever too early
00:09:00.84\00:09:04.34
to really start
thinking about retirement?
00:09:04.37\00:09:06.24
For me when I was in my 20s
and 30s retirement, please...
00:09:06.27\00:09:10.05
The first time I
got an AARP card,
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you know, citizen's aid,
I was like, I'm 35, what...
00:09:12.01\00:09:15.15
You know, what I'm
gonna do with this thing?'
00:09:15.18\00:09:16.55
But is it ever really
too early to start thinking
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about those years
00:09:18.69\00:09:20.02
when you're not
gonna be working?
00:09:20.06\00:09:21.46
No.
00:09:21.49\00:09:22.82
The millennials
need to be started now
00:09:22.86\00:09:24.73
thinking about retirement
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and how they're
gonna deal with it.
00:09:26.13\00:09:28.66
Excellent. Excellent.
00:09:28.70\00:09:30.03
So you're never too
young and never too old, Roy?
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That's right. Yeah.
00:09:32.23\00:09:33.57
And we do wanna make
the process good for you.
00:09:33.60\00:09:37.54
We like to say
we're going to be happy
00:09:37.57\00:09:41.78
in what we're doing.
00:09:41.81\00:09:43.51
You're gonna be
happy, we're gonna be happy,
00:09:43.55\00:09:45.91
and we're gonna
laugh a little bit,
00:09:45.95\00:09:47.28
maybe cry a little bit,
00:09:47.32\00:09:49.52
but we're on your
side when we're doing this.
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And I'm gonna add to
that. Okay. Go ahead.
00:09:53.09\00:09:55.12
I'm gonna add to that.
00:09:55.16\00:09:56.52
Because one of the
things we're going to do
00:09:56.56\00:09:58.23
is we're going to pray with you.
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Right.
00:09:59.63\00:10:00.96
We're gonna pray
with you many times.
00:10:01.00\00:10:02.33
You might weep with us,
00:10:02.36\00:10:03.80
but we're gonna
get you through it.
00:10:03.83\00:10:05.17
We will cry and we
will pray with you,
00:10:05.20\00:10:07.40
I promise you.
00:10:07.44\00:10:08.77
Amen. And I
like your spirit, CA.
00:10:08.80\00:10:11.67
You're smiling, you're laughing,
00:10:11.71\00:10:14.31
he's a happy preacher.
00:10:14.34\00:10:15.81
Amen. Amen. Yes.
00:10:15.84\00:10:17.18
And there's nothing wrong
with being a happy preacher.
00:10:17.21\00:10:18.85
Nothing wrong
with being happy...
00:10:18.88\00:10:20.35
I realized too one
day I'm going to die,
00:10:20.38\00:10:23.79
but it won't be today.
00:10:23.82\00:10:25.15
Won't be today. It won't be now.
00:10:25.19\00:10:26.52
And you still have
the smile on your face.
00:10:26.55\00:10:27.89
Praise the Lord.
00:10:27.92\00:10:29.82
I will die with
the smile on my face.
00:10:29.86\00:10:32.13
We wanna talk about
some ways you maybe thinking,
00:10:32.16\00:10:34.70
"I don't have a ton of
money, I don't have a...
00:10:34.73\00:10:36.87
I'm not into
millions of dollars."
00:10:36.90\00:10:38.47
But one of things we're
going to wrestle with today,
00:10:38.50\00:10:41.47
Roy and Earlenne and Attorney,
00:10:41.50\00:10:43.94
there are other ways
that you can use some things
00:10:43.97\00:10:46.47
that you have in your
hand that you may not think of
00:10:46.51\00:10:48.91
that can be a benefit to you
and of benefit to this ministry
00:10:48.94\00:10:52.18
so we're gonna go to some music,
00:10:52.21\00:10:53.55
which is coming to
us from Johan Sentana.
00:10:53.58\00:10:55.98
He is going to be playing
00:10:56.02\00:10:57.35
because he's a wonderful
young man, a wonderful pianist.
00:10:57.39\00:10:59.99
"This is my Father's world,"
then we're gonna come back,
00:11:00.02\00:11:02.09
and show you some ways
that you can benefit yourself
00:11:02.12\00:11:05.29
and this ministry
00:11:05.33\00:11:06.66
that you may not have thought
of that are of benefit to you.
00:11:06.70\00:11:10.33
So listen to Johan Sentana,
then we'll be right back.
00:11:10.37\00:11:13.10
Johan Santana,
00:14:52.19\00:14:53.52
This is my
Father's world, well done.
00:14:53.56\00:14:55.72
I'm here with Roy Hunt,
00:14:55.76\00:14:57.09
our director of Planned
Giving and Trust Services,
00:14:57.13\00:14:59.66
Earlenne Hunt, who is
a Trust Services officer
00:14:59.69\00:15:01.86
here at 3ABN, and
Attorney Barry Benton.
00:15:01.90\00:15:05.50
Your specialty is or
your area of expertise is,
00:15:05.53\00:15:09.50
is this kind of
laws, this kind of studies,
00:15:09.54\00:15:11.57
is that not so?
00:15:11.61\00:15:12.94
Yes. Correct.
00:15:12.97\00:15:14.31
I have a master's
degree from Emory Law School
00:15:14.34\00:15:16.44
in estate planning and taxation.
00:15:16.48\00:15:18.98
And I've done it...
00:15:19.01\00:15:20.35
I practiced law for 51 years,
00:15:20.38\00:15:22.08
but I have really been a special
00:15:22.12\00:15:24.25
at this probably when I was 25.
00:15:24.29\00:15:27.06
So you know what
you're talking about?
00:15:27.09\00:15:29.06
So when you speak
we ought to listen.
00:15:29.09\00:15:30.76
Roy thinks so, so I
think so. I think so.
00:15:30.79\00:15:33.60
Well, as long as you think, Roy.
00:15:33.63\00:15:35.03
Praise the Lord.
00:15:35.06\00:15:36.40
One thing about Barry is that
he has his degree in taxation,
00:15:36.43\00:15:41.57
not all attorneys
have that specialty.
00:15:41.60\00:15:44.87
So I can talk to him about law
00:15:44.91\00:15:46.81
and I can talk to
him about taxation
00:15:46.84\00:15:49.14
what many times
goes hand in hand.
00:15:49.18\00:15:51.71
That's why we said semi retired
00:15:51.75\00:15:54.15
because he's not really retired,
00:15:54.18\00:15:55.95
he's kind of like retreated.
00:15:55.98\00:15:57.32
That's right.
00:15:57.35\00:15:58.69
Any time he sees my number
pop up on his phone he says,
00:15:58.72\00:16:01.02
"Oh, there's Roy again."
00:16:01.06\00:16:03.76
Well, it's good that
you have some good back up.
00:16:03.79\00:16:05.33
Absolutely.
00:16:05.36\00:16:06.70
Praise the Lord. Yes.
00:16:06.73\00:16:08.06
As we mentioned before we
wanna talk about some ways
00:16:08.10\00:16:10.17
that you can
support, help yourself,
00:16:10.20\00:16:11.87
and help the ministry
that you may not be aware of...
00:16:11.90\00:16:15.04
And, Roy, I'm gonna
kind of pitches to you
00:16:15.07\00:16:16.71
and then you can kind of
circulate it broader here
00:16:16.74\00:16:19.17
because you guys know this
area much better than I do.
00:16:19.21\00:16:25.68
Almost everyone has a
life insurance policy.
00:16:25.71\00:16:28.72
Walk me through how
that can be of benefit,
00:16:28.75\00:16:31.52
and just give us the
sort of the lay of the land
00:16:31.55\00:16:34.26
as respect with life insurance?
00:16:34.29\00:16:36.39
A lot of people have
life insurance policies,
00:16:36.42\00:16:40.13
and they kind of
forget about them.
00:16:40.16\00:16:43.00
They're in a safe deposit
box, they're in the drawer,
00:16:43.03\00:16:46.57
and they don't realize that
00:16:46.60\00:16:49.20
there is a benefit to the family
00:16:49.24\00:16:51.77
if they pass away,
00:16:51.81\00:16:53.81
and when they pass
away who is the beneficiary.
00:16:53.84\00:16:58.31
You can list anybody
00:16:58.35\00:17:00.28
that you want to be a
beneficiary including 3ABN.
00:17:00.32\00:17:04.75
And that's something
that people have forgotten.
00:17:04.79\00:17:07.36
Sometimes people say,
"Oh, I don't have any children,
00:17:07.39\00:17:12.86
I think I better
change my beneficiary
00:17:12.89\00:17:14.83
from wherever
they have it to 3ABN."
00:17:14.86\00:17:18.97
And something they
hadn't thought about.
00:17:19.00\00:17:21.67
So life insurance
policies check it out,
00:17:21.70\00:17:24.84
there might be
$100,000 sitting there
00:17:24.87\00:17:27.54
that might go to
3ABN or another ministry,
00:17:27.58\00:17:31.61
however you want to split it up.
00:17:31.65\00:17:34.62
You know, it's their. Yeah.
00:17:34.65\00:17:35.98
And it never occurred to me...
00:17:36.02\00:17:37.35
Usually you think about
how is it makes your wife,
00:17:37.39\00:17:38.92
your children your beneficiary.
00:17:38.95\00:17:41.29
I just never really
thought that you could give it
00:17:41.32\00:17:43.22
to a ministry and
that's a nice thing to do.
00:17:43.26\00:17:46.66
And, of course,
you're gonna name your spouse
00:17:46.70\00:17:49.06
as the surviving beneficiary
but when both are passed away.
00:17:49.10\00:17:53.57
Yeah.
00:17:53.60\00:17:54.94
Then, you know,
3ABN can be part of it
00:17:54.97\00:17:58.54
or all of it
depending on the person.
00:17:58.57\00:18:00.71
However you want to do.
00:18:00.74\00:18:02.48
And then IRA rollovers,
00:18:02.51\00:18:05.18
that's something
that we have questions
00:18:05.21\00:18:07.78
about all the time,
00:18:07.82\00:18:09.55
every year, our
government would take their time
00:18:09.58\00:18:14.19
and wait until
December to make a decision
00:18:14.22\00:18:16.76
as to whether you
can make a donation
00:18:16.79\00:18:18.93
out of your IRA.
00:18:18.96\00:18:21.53
And two years ago, in December,
00:18:21.56\00:18:24.83
they finally got
smart in Washington.
00:18:24.87\00:18:27.04
I remember when
you made the announces
00:18:27.07\00:18:28.40
'cause we kind of went
on that little bit here.
00:18:28.44\00:18:29.77
Yes, we ran that
pretty heavy. Yeah. We did it.
00:18:29.80\00:18:31.81
But every year if
you're 70.5 years old,
00:18:31.84\00:18:38.28
you have to take a
required minimum distribution,
00:18:38.31\00:18:41.58
which means you have to
take so much money every year
00:18:41.62\00:18:44.85
or the government's
going to take a big chunk
00:18:44.89\00:18:47.22
if you don't do it.
00:18:47.26\00:18:48.59
So you have to take that out.
00:18:48.62\00:18:49.96
You have to take
the minimum requirement
00:18:49.99\00:18:51.83
whatever that may be.
00:18:51.86\00:18:54.23
Well, you can donate that
00:18:54.26\00:18:56.46
required minimum
distribution to 3ABN
00:18:56.50\00:19:00.07
or you can donate
00:19:00.10\00:19:01.74
if you have a large
IRA anything up to $100,000
00:19:01.77\00:19:07.74
you can donate to 3ABN
00:19:07.78\00:19:10.28
and you don't
have to report that
00:19:10.31\00:19:12.01
on your income tax as income.
00:19:12.05\00:19:15.25
There's a place to put it,
but it's not considered income
00:19:15.28\00:19:18.55
and you don't pay any penalties,
00:19:18.59\00:19:20.79
no taxes, it's an outright gift.
00:19:20.82\00:19:24.63
And the key is
it has to be a gift,
00:19:24.66\00:19:27.73
you can't take that
money and start an annuity,
00:19:27.76\00:19:31.43
or cash trust, or anything else.
00:19:31.47\00:19:33.23
It has to be a gift.
00:19:33.27\00:19:34.60
Oh, so you can't roll it back in
00:19:34.64\00:19:35.97
or start something
new to benefit you.
00:19:36.00\00:19:37.34
You have to... Right.
00:19:37.37\00:19:38.71
Okay. Okay. It
has to be a donation.
00:19:38.74\00:19:40.41
And there's a lot of people
00:19:40.44\00:19:41.94
that have a large
amount of money tied up in IRAs
00:19:41.98\00:19:47.98
and they say, "You know,
00:19:48.02\00:19:49.82
our financial condition is such
that we don't need that money
00:19:49.85\00:19:54.02
and we want 3ABN
to have some of it."
00:19:54.06\00:19:56.52
And we're
always willing to take.
00:19:56.56\00:19:58.16
I would think so. Yes.
00:19:58.19\00:19:59.66
So...
00:19:59.69\00:20:03.13
We're a happy organization.
00:20:03.16\00:20:04.53
Indeed when they do that.
00:20:04.57\00:20:06.17
And this is important, Roy,
00:20:06.20\00:20:07.54
because you can't do
something to benefit yourself,
00:20:07.57\00:20:11.07
you have to give it
or you have to use it
00:20:11.11\00:20:14.28
so you might as well
give it to a place like 3ABN.
00:20:14.31\00:20:16.34
Do you get a...
00:20:16.38\00:20:17.71
What's the contribution?
00:20:17.75\00:20:20.32
It's considered a contribution
00:20:20.35\00:20:22.38
but we send the individual
a different type of receipt.
00:20:22.42\00:20:26.29
It has to show that
it came from the IRA
00:20:26.32\00:20:28.96
and then came into 3ABN.
00:20:28.99\00:20:30.59
Of course, so they've
got to be able to prove that
00:20:30.63\00:20:32.39
it was a donation.
00:20:32.43\00:20:33.76
The other part of this is that
00:20:33.80\00:20:36.60
the donation
has to come directly
00:20:36.63\00:20:39.83
from their
financial institution to 3ABN.
00:20:39.87\00:20:43.04
I see.
00:20:43.07\00:20:44.41
It has to be made out to 3ABN,
00:20:44.44\00:20:46.21
otherwise IRS does not
recognize that as a donation.
00:20:46.24\00:20:50.45
And then too the government
is kind of making sure
00:20:50.48\00:20:52.21
you're not playing
any games with that stuff.
00:20:52.25\00:20:53.58
That's right. Yeah.
00:20:53.62\00:20:54.95
They are pretty good
about us not playing games.
00:20:54.98\00:20:58.69
I'm not insinuating a thing.
00:20:58.72\00:21:00.66
But... No, we won't do that.
00:21:00.69\00:21:02.02
They don't want us...
They're gonna make sure...
00:21:02.06\00:21:06.16
Make sure we're not
playing faster foot.
00:21:06.19\00:21:07.93
And it make sense, it
comes directly from institution
00:21:07.96\00:21:10.07
to 3ABN, you know,
it's clean, it's done.
00:21:10.10\00:21:11.50
That's right.
00:21:11.53\00:21:12.87
And that helps
you, helps us certainly,
00:21:12.90\00:21:14.60
and it does help the person
00:21:14.64\00:21:15.97
that's making the
contribution also.
00:21:16.00\00:21:17.34
You're right. So
it's a good deal.
00:21:17.37\00:21:18.84
The other areas of
gifts are property.
00:21:18.87\00:21:21.74
If you have a house...
00:21:21.78\00:21:24.08
Some people have a rental house
they get tired of renting it,
00:21:24.11\00:21:27.48
they want to turn it over
to someone else, they'll say,
00:21:27.52\00:21:32.55
"3ABN, here it is,
you take and sell it,
00:21:32.59\00:21:37.49
and take the money,
and make it as a donation.
00:21:37.53\00:21:42.03
Now we always say call
and let us know what it is,
00:21:42.06\00:21:47.80
we don't accept every piece
of property that comes along.
00:21:47.84\00:21:51.04
Yeah.
00:21:51.07\00:21:52.41
There's things
that we need to look at,
00:21:52.44\00:21:53.78
make sure it's beneficial
for 3ABN and the donor also.
00:21:53.81\00:21:58.85
I wanted to go to
Attorney Benton on this.
00:21:58.88\00:22:04.29
Is property,
00:22:04.32\00:22:05.65
can that be
problematic depending on...
00:22:05.69\00:22:07.76
Because if it's in...
00:22:07.79\00:22:09.56
And we're gonna go
to reverse mortgages
00:22:09.59\00:22:11.46
in just a little bit
00:22:11.49\00:22:12.83
because that's a big
thing that you hear in TV a lot.
00:22:12.86\00:22:15.26
Can property be a bit
of a challenge if it's not,
00:22:15.30\00:22:18.47
you know, if it's not
00:22:18.50\00:22:20.00
in the owner's hands, if it's...
00:22:20.04\00:22:21.40
Can it be a bit of
a challenge sometimes?
00:22:21.44\00:22:23.17
Yes, in every case
we have to do be sure
00:22:23.20\00:22:25.87
that the title is clear
00:22:25.91\00:22:27.58
that the people have a
right to make the donation.
00:22:27.61\00:22:30.58
And there's not
some other interest
00:22:30.61\00:22:32.08
that is ahead of
the owner in some way,
00:22:32.11\00:22:36.28
there's been a lien
put on the property,
00:22:36.32\00:22:37.89
there is a
mortgage on the property,
00:22:37.92\00:22:39.35
so we have to do a
title search to verify
00:22:39.39\00:22:42.62
the ownership of the property.
00:22:42.66\00:22:44.43
And also we, you know,
00:22:44.46\00:22:46.23
the old thing about the charity,
00:22:46.26\00:22:48.26
they got the service
station given to them,
00:22:48.30\00:22:50.63
and there was a problem
00:22:50.67\00:22:52.00
'cause it had been leaking fuel.
00:22:52.03\00:22:53.37
We have to do
some checks to be sure
00:22:53.40\00:22:55.14
that property does not
have any environmental issues.
00:22:55.17\00:23:00.08
So there's a lot of...
00:23:00.11\00:23:02.81
There can be a
lot of hidden things
00:23:02.84\00:23:05.08
that make getting
a piece of property
00:23:05.11\00:23:06.82
really not a blessing
but kind of a challenge?
00:23:06.85\00:23:08.58
Exactly.
00:23:08.62\00:23:09.95
And that's why we say,
"Call us, we'll talk about it,"
00:23:09.98\00:23:13.02
and don't feel
bad if we reject it,
00:23:13.05\00:23:17.56
because we are
using the Lord's money.
00:23:17.59\00:23:19.79
If we have to go and
dig a tank out of the ground
00:23:19.83\00:23:22.33
that's been
leaking and we get hit with
00:23:22.36\00:23:24.93
all the
different charges for that.
00:23:24.97\00:23:27.40
That's not a good
use of the Lord's money.
00:23:27.44\00:23:29.97
So we will say
thank you, but no thanks.
00:23:30.01\00:23:32.27
But no thanks. Yeah. Right.
00:23:32.31\00:23:33.64
Yeah.
00:23:33.68\00:23:35.01
So it is best to call
before you kind of just drop
00:23:35.04\00:23:36.38
that little gift on us
'cause the gift can be a bomb.
00:23:36.41\00:23:38.18
Right. Absolutely.
00:23:38.21\00:23:43.18
Another area is
stocks and bonds.
00:23:43.22\00:23:46.76
Any financial
instrument that you may have
00:23:46.79\00:23:51.86
usually has a place for
a beneficiary to be noted
00:23:51.89\00:23:56.16
whether it would be under
your trust into a charity,
00:23:56.20\00:24:01.60
ministry, 3ABN...
00:24:01.64\00:24:05.47
You know, it's
something that you can list
00:24:05.51\00:24:08.94
right on the papers
who is the beneficiary.
00:24:08.98\00:24:12.91
And most people forgot
who the beneficiaries are.
00:24:12.95\00:24:16.05
I ask many times, some
people are calling I say,
00:24:16.08\00:24:18.82
"Who is the beneficiary now?"
00:24:18.85\00:24:22.19
They're not sure
00:24:22.22\00:24:23.56
and they've got
to go back and look.
00:24:23.59\00:24:25.33
And many times the beneficiaries
00:24:25.36\00:24:27.06
they've listed have passed away.
00:24:27.10\00:24:29.83
So it's always good
to review what you have
00:24:29.86\00:24:32.93
and update your
beneficiary listing.
00:24:32.97\00:24:38.44
The gifts we call
them, "Gifts in kind,"
00:24:38.47\00:24:42.14
that's a legal term.
00:24:42.18\00:24:43.65
It's not my area,
but I'll mention it
00:24:43.68\00:24:46.55
because there
are coin collections,
00:24:46.58\00:24:48.98
gold, silver, anything like that
00:24:49.02\00:24:52.05
can be donated to 3ABN.
00:24:52.09\00:24:54.49
And we have a gentleman
by the name of Bruce Chance,
00:24:54.52\00:24:57.13
Bruce, and Tammy Chance
that run that department.
00:24:57.16\00:25:00.60
So that's an area that
you can help 3ABN also.
00:25:00.63\00:25:04.93
Automobiles,
RVs, things like that,
00:25:04.97\00:25:08.70
we have a lot of donations,
and those cars are put to use
00:25:08.74\00:25:12.51
or they're sold depending on,
you know, how good the RV is,
00:25:12.54\00:25:18.61
we might turn around
and sell it just like that.
00:25:18.65\00:25:21.78
And we've had a
couple of them here recently
00:25:21.82\00:25:24.49
that have sold very quickly.
00:25:24.52\00:25:27.16
Yeah.
00:25:27.19\00:25:28.52
We've sold over the years
RVs, some very nice units.
00:25:28.56\00:25:31.36
Yes.
00:25:31.39\00:25:32.73
And for us
appreciable amount of money.
00:25:32.76\00:25:34.86
That's right. Yeah.
00:25:34.90\00:25:36.23
There's a lot of
RVs out there that have
00:25:36.26\00:25:38.63
20,000, 30,000,
40,000 miles on them
00:25:38.67\00:25:40.90
and that's low mileage.
00:25:40.94\00:25:42.44
Yeah, yeah.
00:25:42.47\00:25:43.81
So anyone that has
retired and has decided
00:25:43.84\00:25:48.68
that RVing is not their thing.
00:25:48.71\00:25:52.31
Give us a call,
00:25:52.35\00:25:53.85
and we may be
able to help them out,
00:25:53.88\00:25:56.15
and help 3ABN also.
00:25:56.18\00:25:58.82
Earlenne, just a question.
00:25:58.85\00:26:00.46
Someone calls and
I wanna help 3ABN,
00:26:00.49\00:26:04.13
but I don't know
anything, about anything,
00:26:04.16\00:26:06.29
what's the first
question you ask them
00:26:06.33\00:26:07.83
when you're trying to
walk them through the,
00:26:07.86\00:26:09.66
you know, the system?
00:26:09.70\00:26:11.03
What's the first
thing you'd ask a person?
00:26:11.07\00:26:12.90
Okay.
00:26:12.93\00:26:14.27
I always try to find out
if they are a current viewer,
00:26:14.30\00:26:17.34
if they're, you know, new,
00:26:17.37\00:26:18.94
is this something
they had seen in the past,
00:26:18.97\00:26:21.48
and are you getting 3ABN now?
00:26:21.51\00:26:25.01
And we assist them
wither being able to get 3ABN.
00:26:25.05\00:26:28.38
If for some reason
they aren't getting it
00:26:28.42\00:26:30.05
because some used to
get it and they aren't now.
00:26:30.09\00:26:32.19
So we work to
pull all that together
00:26:32.22\00:26:34.02
because we know
that we work as a team.
00:26:34.06\00:26:36.56
And so we've helped
many people with that,
00:26:36.59\00:26:39.36
then from there we start by
asking them a few questions,
00:26:39.39\00:26:42.53
personal questions
getting their addresses,
00:26:42.56\00:26:46.33
and sending them
information packets.
00:26:46.37\00:26:49.80
And then filling
them in on what an annuity
00:26:49.84\00:26:53.88
and what a trust,
00:26:53.91\00:26:55.24
those two things in
particular we focus on,
00:26:55.28\00:26:58.11
and exactly what each one is.
00:26:58.15\00:27:01.42
An annuity is
something where you invest
00:27:01.45\00:27:03.92
and according to your age
00:27:03.95\00:27:05.79
as to how high
your interest will be.
00:27:05.82\00:27:08.26
Thus our 90-year olds
are walking around saying,
00:27:08.29\00:27:10.99
I'm making 9%.
00:27:11.03\00:27:13.29
9% interest
where can you get that?
00:27:13.33\00:27:15.96
So, yes, that's
something I do inform them about
00:27:16.00\00:27:19.17
and then I also let
them know about the trust.
00:27:19.20\00:27:21.80
A trust is a
great thing to have.
00:27:21.84\00:27:24.57
One you're
putting some money away
00:27:24.61\00:27:27.54
so that you are going to
in an emergency situation
00:27:27.58\00:27:32.91
crack the nest egg,
00:27:32.95\00:27:37.75
because you shouldn't have to go
00:27:37.79\00:27:39.15
into some of your
major big investments
00:27:39.19\00:27:41.42
that you have and destroy that
00:27:41.46\00:27:43.79
because you had
something come up
00:27:43.83\00:27:45.16
that you didn't set
emergency funds aside for.
00:27:45.19\00:27:48.70
And then out of those
funds they've got money
00:27:48.73\00:27:51.13
they can do several
things with on interest.
00:27:51.17\00:27:53.67
And interest can
involve many things,
00:27:53.70\00:27:57.04
supporting
Christian education...
00:27:57.07\00:27:58.91
Grandmas and grandpas,
00:27:58.94\00:28:00.28
you wanna support
Christian education,
00:28:00.31\00:28:01.84
that's a good way to do it.
00:28:01.88\00:28:03.21
You're gonna make some interest,
00:28:03.24\00:28:04.58
you can make that school payment
00:28:04.61\00:28:05.95
for your grandkids.
00:28:05.98\00:28:07.32
And then I go
ahead and let them know
00:28:07.35\00:28:10.55
all the different
ideas and suggestions I have
00:28:10.59\00:28:13.52
that they can
use that interest for
00:28:13.56\00:28:15.66
but I also challenge
them to make their own list.
00:28:15.69\00:28:18.49
And then we send out a
little card letting them know
00:28:18.53\00:28:21.53
that we have
outlined some things
00:28:21.56\00:28:23.37
for them personally,
00:28:23.40\00:28:24.87
and for them to re-contact us
when they receive their packet,
00:28:24.90\00:28:28.57
and then we go through
that whole packet with you,
00:28:28.60\00:28:30.97
every single
thing in the packet,
00:28:31.01\00:28:32.91
we will talk about again.
00:28:32.94\00:28:34.61
And if you saw us on a program,
00:28:34.64\00:28:36.81
we're going to send
you a DVD of that program.
00:28:36.85\00:28:40.25
So it'd be fun
to refresh your mind
00:28:40.28\00:28:43.22
as to what you saw on a
program like we're doing today.
00:28:43.25\00:28:45.59
Yeah. Well done.
00:28:45.62\00:28:46.96
And let me compliment
you for the professional way
00:28:46.99\00:28:50.86
that you go about this.
00:28:50.89\00:28:52.23
See, I would've
been crass and said,
00:28:52.26\00:28:54.00
"Okay, how much money you have?"
00:28:54.03\00:28:55.86
And you didn't start there,
00:28:55.90\00:28:57.23
you started with
the tying with 3ABN,
00:28:57.27\00:28:59.40
how do you receive us?
00:28:59.43\00:29:00.77
Have you been watching
us? Do you understand it?
00:29:00.80\00:29:02.34
Nicely done.
00:29:02.37\00:29:03.81
And it makes it,
00:29:03.84\00:29:05.27
it's just a nice
way to move into that.
00:29:05.31\00:29:08.58
Attorney Benton, do
the laws that govern trusts
00:29:08.61\00:29:14.48
and other kinds of instruments
00:29:14.52\00:29:16.28
vary greatly from state to state
00:29:16.32\00:29:18.25
or there's some uniformity
across the United States?
00:29:18.29\00:29:20.46
There's very close uniformity
across the United States.
00:29:20.49\00:29:24.03
There are some differences,
00:29:24.06\00:29:25.99
but the vast
majority of the cases
00:29:26.03\00:29:28.30
it's very comparable
across the United States.
00:29:28.33\00:29:32.50
So there won't be great shifts
in how you deal with things
00:29:32.53\00:29:35.94
as you move from
West Coast to East Coast
00:29:35.97\00:29:38.07
pretty much the same.
00:29:38.11\00:29:39.44
Now all the
instruments that 3ABN uses that,
00:29:39.47\00:29:42.34
Roy and Earlenne use
every day are instruments
00:29:42.38\00:29:45.48
that apply in all
the states the trust,
00:29:45.51\00:29:48.12
the wills, the annuities,
00:29:48.15\00:29:51.09
all of these
instruments are very compatible.
00:29:51.12\00:29:53.92
Expect for two
states. There are two states.
00:29:53.96\00:29:55.79
Yes, there're states.
00:29:55.82\00:29:57.43
That we now can't
do Washington State,
00:29:57.46\00:29:59.29
we can't do Alabama.
00:29:59.33\00:30:00.83
Right. On the annuities.
00:30:00.86\00:30:02.20
And the reason for Alabama...
00:30:02.23\00:30:04.00
And, in fact, we
got a notice on it
00:30:04.03\00:30:05.87
because I sold something...
00:30:05.90\00:30:07.50
I shouldn't say that too loud.
00:30:07.54\00:30:10.47
This has been many years ago.
00:30:10.51\00:30:12.77
Okay, Roy. Well done.
00:30:12.81\00:30:14.14
That we can't do
business in Alabama,
00:30:14.18\00:30:16.28
because we have to
have our securities license.
00:30:16.31\00:30:18.91
And we don't have
securities license for Alabama
00:30:18.95\00:30:23.18
and most ministries do not.
00:30:23.22\00:30:25.45
But don't let
that discourage you.
00:30:25.49\00:30:27.69
I have a plan
for you just call me.
00:30:27.72\00:30:29.42
That's right.
00:30:29.46\00:30:31.13
I can walk
through lots of ideas.
00:30:31.16\00:30:33.13
Make it work, work
around it. Amen and amen.
00:30:33.16\00:30:35.66
And I've heard Washington
State is a little tough
00:30:35.70\00:30:37.83
on a number of fronts
dealing with charities
00:30:37.87\00:30:40.77
and other kinds of
things little difficult.
00:30:40.80\00:30:42.17
It's again, it's the annuity.
00:30:42.20\00:30:44.44
A cash trust not a problem,
00:30:44.47\00:30:46.54
in Alabama cash
trust is not a problem.
00:30:46.57\00:30:49.84
It's the charitable gift annuity
00:30:49.88\00:30:52.01
that we have to be careful of.
00:30:52.05\00:30:54.48
And this is just
on the annuities,
00:30:54.52\00:30:56.22
in the trust area we
do have to be careful
00:30:56.25\00:30:59.19
that the homes are not
homesteaded in some states.
00:30:59.22\00:31:02.96
Now define that?
00:31:02.99\00:31:04.53
Help me define this.
00:31:04.56\00:31:06.96
If they have the
homestead they could lose it,
00:31:07.00\00:31:10.07
if they put their
property into a trust.
00:31:10.10\00:31:12.97
If at the time
that they recorded it,
00:31:13.00\00:31:15.37
that they did not take
their legal document with them
00:31:15.40\00:31:19.47
to the recording and...
00:31:19.51\00:31:20.84
I'll add something to
that because we have found
00:31:20.88\00:31:24.11
that a revocable
trust that we used to do,
00:31:24.15\00:31:28.12
which made 3ABN the trustee,
00:31:28.15\00:31:32.25
which most people
were all right with.
00:31:32.29\00:31:35.19
But some of the state
said if 3ABN is the trustee,
00:31:35.22\00:31:40.33
you're going to lose
your homestead exemption.
00:31:40.36\00:31:43.26
And that's money,
that's out of your pocket,
00:31:43.30\00:31:45.70
if you're the
person doing the trust
00:31:45.73\00:31:49.10
so we changed to avoid this
00:31:49.14\00:31:52.84
to what's called a
"Self Administered Trust".
00:31:52.87\00:31:57.31
If you decided to do a trust
with 3ABN, which, you know,
00:31:57.35\00:32:03.59
you and I need to talk again
and we keep the conversation
00:32:03.62\00:32:07.29
but no action...
00:32:07.32\00:32:09.52
No offence.
00:32:09.56\00:32:11.19
But if you came to me and
said, "I want to do a trust."
00:32:17.83\00:32:21.67
It would be a self
administered trust,
00:32:21.70\00:32:23.74
it would be CA
Murray as the trust,
00:32:23.77\00:32:27.44
or putting it into the trust,
and you become the trustee,
00:32:27.48\00:32:32.11
which gives you full control.
00:32:32.15\00:32:33.72
Control. Yeah, yeah, yeah.
00:32:33.75\00:32:35.08
And you can take things
in and out of that trust
00:32:35.12\00:32:38.19
as long as you're alive
00:32:38.22\00:32:40.29
and in sound
mind you can do that.
00:32:40.32\00:32:43.83
Now that doesn't
mean that we said,
00:32:43.86\00:32:45.96
"Sorry, you took
this out on your own,
00:32:45.99\00:32:48.36
you're on your own."
00:32:48.40\00:32:49.73
We don't say that, we're
here to help you with it.
00:32:49.76\00:32:52.80
So maybe you
need something changed
00:32:52.83\00:32:54.57
in the document,
you just notify us,
00:32:54.60\00:32:56.81
and then we tell you, you know,
00:32:56.84\00:32:58.21
what you'll need
to do in writing,
00:32:58.24\00:32:59.87
and that will correct that
00:32:59.91\00:33:01.68
or if you need to sell the home,
00:33:01.71\00:33:04.05
we can redo the deed
00:33:04.08\00:33:05.75
so it's ready to be
transferred to the purchase.
00:33:05.78\00:33:09.08
There's many things
00:33:09.12\00:33:10.45
we will assist you with on that,
00:33:10.49\00:33:12.02
but you're going to tell
us what you would like to do.
00:33:12.05\00:33:14.62
I see. It's self administered.
00:33:14.66\00:33:17.09
They refer to those
as an S-A-T or a SAT.
00:33:17.13\00:33:21.36
A SAT.
00:33:21.40\00:33:22.86
Not to be confused with SAD.
00:33:22.90\00:33:25.07
No, there's
nothing sad about it,
00:33:25.10\00:33:26.70
it's really very
pleasant. Well said.
00:33:26.74\00:33:30.27
Well done, Earlenne.
00:33:30.31\00:33:31.64
Let me, sort of pull
a little comment here
00:33:31.67\00:33:33.88
because there are other
people in your department
00:33:33.91\00:33:36.58
besides yourself,
who else works with you
00:33:36.61\00:33:38.71
in the Planned Giving and
Trust Services department?
00:33:38.75\00:33:41.28
We have Nancy
O'Brien, she's a trust officer,
00:33:41.32\00:33:45.02
and there's
three trust officers,
00:33:45.05\00:33:47.29
Earlenne, Nancy, and myself.
00:33:47.32\00:33:49.82
Then we have a secretary
00:33:49.86\00:33:52.79
and she actually
does secretarial type work
00:33:52.83\00:33:56.93
as well as recording,
00:33:56.97\00:33:59.00
getting the deeds
prepared to go into the trust.
00:33:59.03\00:34:02.64
She is the one that
looks at that trust and says,
00:34:02.67\00:34:05.74
is everything there
00:34:05.77\00:34:07.11
that we need to
make it complete.
00:34:07.14\00:34:09.48
Because if
there's something missing
00:34:09.51\00:34:11.88
and it comes time to
administrate the estate,
00:34:11.91\00:34:16.38
we may have to go to
probate because it's not there.
00:34:16.42\00:34:19.69
Not there.
00:34:19.72\00:34:21.06
So Diane Hamilton is
the one that does that.
00:34:21.09\00:34:23.36
I see.
00:34:23.39\00:34:24.73
So we have a good team
00:34:24.76\00:34:26.09
and any one of the team
members can answer questions,
00:34:26.13\00:34:30.47
if they can't,
they'll call on me,
00:34:30.50\00:34:34.00
and sometimes, you
know, it's way over my head,
00:34:34.04\00:34:37.71
and that's where I call Barry.
00:34:37.74\00:34:39.17
Yeah, yeah, yeah.
00:34:39.21\00:34:40.54
Now I noticed you are logging
a lot of frequent-flyer miles.
00:34:40.58\00:34:43.55
Sometimes you
have to go actually
00:34:43.58\00:34:45.35
and see things
and inspect things
00:34:45.38\00:34:47.72
because you can't just
sort of take on face value.
00:34:47.75\00:34:50.15
Well, we do...
00:34:50.19\00:34:51.62
Sometimes we go and
check out the property
00:34:51.65\00:34:53.99
that's going in the
trust right upfront.
00:34:54.02\00:34:58.63
So when it comes time
to administer the estate,
00:34:58.66\00:35:01.76
you know if it's
an apartment complex,
00:35:01.80\00:35:05.33
maybe a rental, we
wanna see what's there.
00:35:05.37\00:35:09.30
Also, I go when it's time to
00:35:09.34\00:35:13.14
when both
spouses are passed away,
00:35:13.17\00:35:16.95
I'm the one that
goes out and determines
00:35:16.98\00:35:20.02
what needs to be done,
00:35:20.05\00:35:21.38
the steps that need to be done
in administrating the estate.
00:35:21.42\00:35:25.89
What it's gonna take
to sell the property?
00:35:25.92\00:35:29.42
Do we need a
lawyer in any part of it?
00:35:29.46\00:35:31.99
Normally, in trust
00:35:32.03\00:35:33.36
you don't need
a lawyer involved,
00:35:33.40\00:35:35.00
and that's why you want
00:35:35.03\00:35:37.40
as much as you
can get in your trust.
00:35:37.43\00:35:41.34
And if it's
there, then in most cases
00:35:41.37\00:35:43.94
you don't have to go to probate
and that saves time and money.
00:35:43.97\00:35:48.04
I'd like to add just a
word to what Roy said there.
00:35:48.08\00:35:50.85
I'm gonna add here
00:35:50.88\00:35:52.21
that it's really
vitally important
00:35:52.25\00:35:54.32
that if you hold a document
with us, that you contact us,
00:35:54.35\00:35:58.55
and update your
beneficiaries their addresses,
00:35:58.59\00:36:01.62
their phone numbers,
00:36:01.66\00:36:02.99
and anything else we
might need to know about them
00:36:03.02\00:36:04.93
because that will
delay closing a document.
00:36:04.96\00:36:10.03
We just can't go anywhere
00:36:10.07\00:36:11.47
without having those names ready
00:36:11.50\00:36:13.77
and correct in the file.
00:36:13.80\00:36:16.50
You will sometimes receive
from us a letter once a year
00:36:16.54\00:36:20.98
that says, "Is your
document an antique?"
00:36:21.01\00:36:25.58
When you receive that
letter, it's to call us,
00:36:25.61\00:36:29.15
and we've put lines
there where we suggest,
00:36:29.18\00:36:31.52
"Have you purchased anything?"
00:36:31.55\00:36:33.19
Maybe you
purchased two brand new cars
00:36:33.22\00:36:34.82
and we don't
know a thing about it.
00:36:34.86\00:36:36.36
We want those in the document.
00:36:36.39\00:36:37.99
Or property.
00:36:38.03\00:36:39.36
Or maybe you purchased property,
00:36:39.39\00:36:41.20
in fact, maybe you
purchased three properties
00:36:41.23\00:36:45.00
because when you retired
00:36:45.03\00:36:46.67
you moved from the
West Coast to the East Coast
00:36:46.70\00:36:48.77
and discovered that
you could buy rentals
00:36:48.80\00:36:50.37
for a whole lot
less with the money
00:36:50.41\00:36:51.97
that you sold your
house for out in California.
00:36:52.01\00:36:54.14
So now you're retired and
you also have three rentals
00:36:54.18\00:36:56.51
that's helping your income.
00:36:56.54\00:36:58.15
Put those in your trust
00:36:58.18\00:37:00.12
and make sure that
we've got the deeds in there
00:37:00.15\00:37:02.25
so that your charitable
intent for the Lord's work
00:37:02.28\00:37:06.35
will be accomplished
00:37:06.39\00:37:07.72
at the closing
of those documents.
00:37:07.76\00:37:09.42
Now what we do
00:37:09.46\00:37:10.89
as kind of what we
call a pour-over will.
00:37:10.93\00:37:14.10
Something that
you have forgotten,
00:37:14.13\00:37:16.26
or maybe something
that you purchased,
00:37:16.30\00:37:18.47
and then you
passed away the next day
00:37:18.50\00:37:21.50
and it didn't
get into the trust.
00:37:21.54\00:37:23.87
That can come into the trust
through the pour-over will,
00:37:23.91\00:37:26.71
which is part of
the whole process
00:37:26.74\00:37:29.68
of doing a trust.
00:37:29.71\00:37:31.05
So as your situation
changes buying, selling,
00:37:31.08\00:37:33.68
moving things around,
00:37:33.72\00:37:35.05
you can adjust your
trust or bring other things in.
00:37:35.08\00:37:37.55
So that you're
constantly updating
00:37:37.59\00:37:38.95
what's going on.
00:37:38.99\00:37:40.32
Yes, that's exactly right.
00:37:40.36\00:37:41.72
And for those viewers
00:37:41.76\00:37:43.09
who have possibly
moved their parents
00:37:43.12\00:37:45.63
to a retirement living,
give us their new addresses,.
00:37:45.66\00:37:49.16
It's very important
we know where they are.
00:37:49.20\00:37:51.70
We also send
birthday cards to everyone.
00:37:51.73\00:37:54.60
Roy and I like to do that.
00:37:54.64\00:37:56.30
And so if you don't
update your birthday,
00:37:56.34\00:37:58.47
you're going to
miss the birthday card
00:37:58.51\00:38:00.21
and we personalize
those for each of you.
00:38:00.24\00:38:03.24
CA. I like that.
00:38:03.28\00:38:04.68
That's a perk. Well said.
00:38:04.71\00:38:06.08
If you do a trust with us,
you'll get a birthday card.
00:38:06.11\00:38:07.75
I get a birthday card.
00:38:07.78\00:38:09.12
Well said. Well said.
00:38:09.15\00:38:11.12
That is wonderful.
00:38:11.15\00:38:12.89
The idea that this
is a long drawn out
00:38:12.92\00:38:17.79
mystical kind of process,
00:38:17.83\00:38:19.23
you've kind of
blown that smoke away.
00:38:19.26\00:38:20.66
It's not as
difficult as one would think.
00:38:20.70\00:38:23.20
No, it's not.
00:38:23.23\00:38:24.57
It's actually quite pleasant,
because you get that peace
00:38:24.60\00:38:27.44
and that assurance
that you have finished
00:38:27.47\00:38:30.27
what God wants you to do
00:38:30.31\00:38:31.87
and you have done
your final arrangements
00:38:31.91\00:38:34.38
financially with God.
00:38:34.41\00:38:37.15
Now, I wanna kind of
put this to you, Earlenne,
00:38:37.18\00:38:40.82
because someone is
saying, "I don't have that much,
00:38:40.85\00:38:44.69
I own this
house, and I got a car,
00:38:44.72\00:38:47.22
and maybe I have
$30, 000 in the bank."
00:38:47.26\00:38:50.63
That's kind of
beneath the radar,
00:38:50.66\00:38:53.09
that's not
enough to do anything.
00:38:53.13\00:38:54.60
No, we'll do a will for
you, so we can do a will,
00:38:54.63\00:38:58.07
and will outline
those things for you,
00:38:58.10\00:39:00.50
and it does not
matter how small.
00:39:00.54\00:39:04.27
If your intent was
to give 25% to 3ABN
00:39:04.31\00:39:08.38
and 25% to each of your children
00:39:08.41\00:39:10.65
that can be accomplished
through a will or a trust.
00:39:10.68\00:39:14.95
And we're going to do
that for each and every person.
00:39:14.98\00:39:17.99
Yeah. In God's
eyes nobody has less.
00:39:18.02\00:39:20.72
Praise the Lord.
00:39:20.76\00:39:22.09
And kind of a guideline,
00:39:22.12\00:39:23.46
if you own
property, real estate,
00:39:23.49\00:39:26.93
which means the
house that you're in,
00:39:26.96\00:39:30.23
the land that house sits on,
almost always we'll do a trust.
00:39:30.27\00:39:36.91
That's kind of
the defining moment
00:39:36.94\00:39:39.71
in doing a trust.
00:39:39.74\00:39:41.28
If you have property,
00:39:41.31\00:39:44.25
we'll talk you
in doing the trust.
00:39:44.28\00:39:46.65
We pay for it
00:39:46.68\00:39:48.02
so there's no
reason why you shouldn't.
00:39:48.05\00:39:50.69
That is a very,
very special thing
00:39:50.72\00:39:53.62
that we do pay for
all of our documents.
00:39:53.66\00:39:56.32
So when our attorneys work
on our documents we pay them,
00:39:56.36\00:40:00.60
you don't pay them anything.
00:40:00.63\00:40:02.66
So we're giving you
a thank you upfront.
00:40:02.70\00:40:05.43
Yeah.
00:40:05.47\00:40:06.80
We're doing a
document where you have
00:40:06.84\00:40:08.17
charitable intent for
Three Angels Broadcasting.
00:40:08.20\00:40:10.51
So you're actually facilitating
that charitable intent.
00:40:10.54\00:40:12.61
You have the
will, they have the way.
00:40:12.64\00:40:15.04
That's right. So
it will get done.
00:40:15.08\00:40:17.25
This idea because I
know there are people
00:40:17.28\00:40:19.91
who put in their documents
3ABN as one of their children,
00:40:19.95\00:40:24.45
have three children
the fourth child is 3ABN.
00:40:24.49\00:40:26.76
Child of share. Yeah.
00:40:26.79\00:40:28.12
And so everybody
gets a equal portion,
00:40:28.16\00:40:31.13
is that something
that happens a lot?
00:40:31.16\00:40:32.99
We do see that
quite a bit, right.
00:40:33.03\00:40:35.73
And oftentimes it
seems like with many families
00:40:35.76\00:40:40.57
that it is three,
four children, two...
00:40:40.60\00:40:44.81
It's a smaller amount. Yeah.
00:40:44.84\00:40:46.78
And we do still have some people
00:40:46.81\00:40:48.88
who have 12 kids
00:40:48.91\00:40:51.21
and it's amazing maybe it
was a farm in North Dakota
00:40:51.25\00:40:54.98
where they decided
that they were going to give
00:40:55.02\00:40:57.25
to all of their children,
00:40:57.29\00:40:58.99
but they didn't
just wanna give it away
00:40:59.02\00:41:00.86
so they have asked us to
do an annuity at their passing
00:41:00.89\00:41:06.23
that each of their children
00:41:06.26\00:41:07.60
will now have an
annuity with 3ABN.
00:41:07.63\00:41:10.87
There are so many ways, Roy,
00:41:10.90\00:41:12.73
that you can either
to manipulate your funds
00:41:12.77\00:41:16.20
so that you're
blessing your family,
00:41:16.24\00:41:18.24
you're blessing the ministry.
00:41:18.27\00:41:20.61
It's not quite as
difficult as one would think.
00:41:20.64\00:41:23.04
It's not and people will
hear this program and they say,
00:41:23.08\00:41:27.88
"Wow, how do I
get more information?"
00:41:27.92\00:41:30.29
Yeah. We're always here.
00:41:30.32\00:41:33.19
I shouldn't say
always, we're not 24/7
00:41:33.22\00:41:36.19
but we're here during
normal business hours.
00:41:36.22\00:41:38.39
Indeed.
00:41:38.43\00:41:39.76
And you can call us
as many times as you want
00:41:39.79\00:41:42.23
to make sure you understand,
00:41:42.26\00:41:43.97
we never get tired of
answering the questions.
00:41:44.00\00:41:46.77
And even if
we're out on the road,
00:41:46.80\00:41:48.14
our staff is very
good at locating us
00:41:48.17\00:41:50.67
or leaving a
message on our phones.
00:41:50.71\00:41:52.47
And when we come
down out of the sky,
00:41:52.51\00:41:54.01
and we're in the airport,
we're already calling you back.
00:41:54.04\00:41:57.65
Amen, and amen.
00:41:57.68\00:42:00.05
So yes, that is something that
we want everybody to feel good
00:42:00.08\00:42:05.65
about is we are approachable.
00:42:05.69\00:42:09.29
If you're here at camp
meeting, and you want to talk,
00:42:09.32\00:42:11.86
we'll talk.
00:42:11.89\00:42:13.40
If you wanna call us,
if you wanna come visit,
00:42:13.43\00:42:15.86
and if you want us
to come visit you...
00:42:15.90\00:42:17.93
I mean, there's
all kinds of ways
00:42:17.97\00:42:20.14
that we can make it happen.
00:42:20.17\00:42:21.50
And I know you do a seminar
during camp meeting time...
00:42:21.54\00:42:24.47
Right. When people come in.
00:42:24.51\00:42:25.97
Before our time gets away
00:42:26.01\00:42:27.34
'cause I'm looking
at the clock on the wall
00:42:27.38\00:42:28.71
and it's moving quickly.
00:42:28.74\00:42:30.08
Let's talk about something that
00:42:30.11\00:42:31.45
you can hardly turn
your television set on
00:42:31.48\00:42:33.62
without hearing a promotion for,
00:42:33.65\00:42:36.62
and it sounds
like the greatest thing
00:42:36.65\00:42:38.89
since the invention of bread,
00:42:38.92\00:42:41.26
and that is the
reverse mortgage.
00:42:41.29\00:42:43.63
Reverse mortgage.
00:42:43.66\00:42:44.99
And I remember the first
time I mentioned that to you,
00:42:45.03\00:42:46.90
I saw your face
contort into this thing
00:42:46.93\00:42:52.73
that I had never seen before.
00:42:52.77\00:42:54.37
So that said to be
that maybe this is not all
00:42:54.40\00:42:56.84
that it's cracked up to be
00:42:56.87\00:42:58.21
when it comes
to what they can do
00:42:58.24\00:42:59.61
for a ministry like 3ABN?
00:42:59.64\00:43:01.88
It's usually nothing
that will come to 3ABN
00:43:01.91\00:43:06.31
because of reverse mortgage.
00:43:06.35\00:43:08.48
Just briefly a reverse
mortgage they make it sound like
00:43:08.52\00:43:11.92
it's the greatest thing
00:43:11.95\00:43:13.32
since sliced
bread in your words.
00:43:13.36\00:43:16.93
You know, you still own
the house, you still pay taxes,
00:43:16.96\00:43:20.10
you pay everything
that you normally do,
00:43:20.13\00:43:22.53
and they turn around
00:43:22.56\00:43:23.97
and instead of you
paying down a mortgage
00:43:24.00\00:43:28.40
they'll give you the
money and then that money
00:43:28.44\00:43:31.97
that you're
normally pay in a mortgage
00:43:32.01\00:43:33.68
is tacked on to the
mortgage to the principal,
00:43:33.71\00:43:38.21
which means every
month that is increasing.
00:43:38.25\00:43:41.98
Wow.
00:43:42.02\00:43:43.35
So if you had any
intention of that house
00:43:43.39\00:43:46.62
even a portion of
the sale of that house
00:43:46.65\00:43:48.79
to come to your children
00:43:48.82\00:43:50.96
or to 3ABN in most
cases it's not going to,
00:43:50.99\00:43:55.60
because they know
what the formulas are,
00:43:55.63\00:43:57.93
they know that
they will get the house,
00:43:57.97\00:44:00.50
and they will do
with it as they see fit.
00:44:00.54\00:44:04.37
And very seldom,
00:44:04.41\00:44:05.74
I'm not gonna
say it's impossible,
00:44:05.77\00:44:08.61
there has to be a
great appreciation
00:44:08.64\00:44:10.68
in the property
00:44:10.71\00:44:12.05
before it even begins
to help out the children
00:44:12.08\00:44:16.58
or a ministry.
00:44:16.62\00:44:19.52
So the first question I ask...
00:44:19.55\00:44:22.62
I'll say, "What is your intent?
00:44:22.66\00:44:25.96
Do you want 3ABN to have
any portion of your house,
00:44:25.99\00:44:29.83
your property?
00:44:29.86\00:44:31.83
And if they say, no
right upfront, I'll say,
00:44:31.87\00:44:35.60
"We're probably
00:44:35.64\00:44:36.97
not the
organization to be talking to."
00:44:37.01\00:44:39.21
If you want to go to your kids,
00:44:39.24\00:44:41.08
they probably
won't get anything.
00:44:41.11\00:44:43.48
But if you're
looking for a quick buck,
00:44:43.51\00:44:47.12
you need that money
for whatever reason,
00:44:47.15\00:44:49.65
you're going to get the money
00:44:49.68\00:44:51.29
but you're going
to pay dearly for it.
00:44:51.32\00:44:53.19
Wow.
00:44:53.22\00:44:56.09
Attorney Benton, if a person
00:44:56.12\00:44:57.93
is in a reverse
mortgage situation,
00:44:57.96\00:45:00.03
is there any way
to get out of that?
00:45:00.06\00:45:02.43
Is that even possible?
00:45:02.46\00:45:06.30
How complex is
freeing yourself from that
00:45:06.33\00:45:09.27
if it is at all possible?
00:45:09.30\00:45:11.51
Well, you can always
pay the mortgage off.
00:45:11.54\00:45:14.31
But as Roy
indicated there are the fees
00:45:14.34\00:45:19.01
of actually
setting the mortgage up
00:45:19.05\00:45:21.28
that are pretty hefty.
00:45:21.32\00:45:23.55
And you're paying
probably a higher interest rate
00:45:23.59\00:45:25.95
than you would be
00:45:25.99\00:45:27.32
if you were just gonna
mortgage a property freely
00:45:27.36\00:45:28.89
without the reverse angle on it.
00:45:28.92\00:45:31.69
I have had people
00:45:31.73\00:45:33.06
who had very
highly appreciating homes,
00:45:33.09\00:45:35.56
which has not been
so true in recent years
00:45:35.60\00:45:38.43
and be able to go back
00:45:38.47\00:45:39.80
and get another
reverse mortgage.
00:45:39.83\00:45:42.14
But yet typically
speaking as Roy said,
00:45:42.17\00:45:46.31
if somebody is in
trouble they want money quickly
00:45:46.34\00:45:48.74
they think that
for whatever reason
00:45:48.78\00:45:51.15
maybe they've had medical bill
00:45:51.18\00:45:53.48
or they think
they're not in good health,
00:45:53.52\00:45:57.32
then you need to really
go to someone an attorney,
00:45:57.35\00:46:01.62
or talk to Roy
about it, or Earlenne.
00:46:01.66\00:46:05.69
And I've done a lot
of reverse mortgages
00:46:05.73\00:46:07.80
back in the era from 2008
00:46:07.83\00:46:12.87
when the bubble did break.
00:46:12.90\00:46:15.30
But generally
speaking for most people,
00:46:15.34\00:46:17.57
it is not an ideal situation.
00:46:17.61\00:46:20.08
And most of our people
who watch 3ABN are people
00:46:20.11\00:46:24.38
who are savers, they save money,
00:46:24.41\00:46:26.72
they have appreciated property,
00:46:26.75\00:46:28.38
they pay their bills,
00:46:28.42\00:46:29.75
they do not have
big debt built up.
00:46:29.78\00:46:31.89
And so for them
reverse mortgage really
00:46:31.92\00:46:35.49
is not a very
attractive instrument.
00:46:35.52\00:46:39.76
So if you're pretty solvent
and you're making your way
00:46:39.79\00:46:43.23
through life and...
00:46:43.26\00:46:45.23
To try to complicate
it with a reverse mortgage
00:46:45.27\00:46:47.27
really wouldn't
appear that much.
00:46:47.30\00:46:48.64
Really wouldn't. Yeah.
00:46:48.67\00:46:50.01
Only if you need
the money, right now.
00:46:50.04\00:46:51.71
Yeah. That's it.
00:46:51.74\00:46:53.44
Would it be better to take out
00:46:53.48\00:46:54.81
just a second
mortgage on the home?
00:46:54.84\00:46:57.55
Then I can get
people on financial advices
00:46:57.58\00:47:00.55
that is simpler thing to do.
00:47:00.58\00:47:02.22
I'll refer that to Barry.
00:47:02.25\00:47:03.62
Yeah, than going to
reverse mortgage route.
00:47:03.65\00:47:05.72
Almost never is that a good idea
00:47:05.75\00:47:08.69
to mortgage your
house for short-term debt,
00:47:08.72\00:47:14.23
whether it's medical or whatever
00:47:14.26\00:47:16.13
because typically speaking
00:47:16.16\00:47:17.73
the house is among
the most expensive things
00:47:17.77\00:47:20.34
that you ever bought
00:47:20.37\00:47:21.70
maybe except your
children's education.
00:47:21.74\00:47:23.77
I put two kids through
college so that's a big expense.
00:47:23.81\00:47:26.44
Yeah, yeah.
00:47:26.47\00:47:27.81
But the house for most people
00:47:27.84\00:47:29.18
is the largest
expenditure of their lifetime.
00:47:29.21\00:47:31.61
And we normally recommend
that particularly people
00:47:31.65\00:47:34.78
who are thinking
about going to retirement,
00:47:34.82\00:47:37.82
it's not recommended
to go into retirement
00:47:37.85\00:47:40.76
still having to pay a
mortgage on your house.
00:47:40.79\00:47:43.76
And I've heard that many times
00:47:43.79\00:47:45.13
that I think is
a true statement.
00:47:45.16\00:47:46.76
You don't wanna be retired
00:47:46.80\00:47:48.13
still fighting
mortgage every month.
00:47:48.16\00:47:49.70
And you don't wanna
have other mortgages
00:47:49.73\00:47:51.40
on your vehicles or other things
00:47:51.43\00:47:54.00
because you're
going in generally
00:47:54.04\00:47:55.57
in the area of your life
00:47:55.60\00:47:56.94
when you're not
making as much income
00:47:56.97\00:47:59.04
so it's harder for
you to pay debt off.
00:47:59.07\00:48:01.41
And I think most, everybody
00:48:01.44\00:48:02.88
that responsible
financial counselor
00:48:02.91\00:48:04.91
would advise people,
00:48:04.95\00:48:06.28
"Let's pay your
debts off, people.
00:48:06.31\00:48:07.72
And let's not be
beholding to mortgage company."
00:48:07.75\00:48:10.25
I think the last ten years of
00:48:10.29\00:48:13.02
or the last seven or eight years
00:48:13.05\00:48:14.39
of America's experience
has been the mortgages
00:48:14.42\00:48:17.63
typically are not a good thing,
00:48:17.66\00:48:19.73
certainly for
people who are going out
00:48:19.76\00:48:22.56
of their highest earning years.
00:48:22.60\00:48:26.03
So you wanna
have your slate, Roy,
00:48:26.07\00:48:27.90
kind of as clean as you can
00:48:27.94\00:48:29.27
and not a lot
complicating things
00:48:29.30\00:48:30.71
so that...
00:48:30.74\00:48:32.07
And when you pass
everybody's got their hand out
00:48:32.11\00:48:33.44
because you owe this
one and that one and then,
00:48:33.48\00:48:35.31
of course, 3ABN almost
getting back of the line
00:48:35.34\00:48:37.88
because there are other debts
that have to be paid first.
00:48:37.91\00:48:40.05
That's right. Yeah.
00:48:40.08\00:48:41.42
And that's part
of our administration
00:48:41.45\00:48:43.72
of the estate to make
sure everything's paid.
00:48:43.75\00:48:46.22
And it makes it so
nice to see a clean plate.
00:48:46.25\00:48:49.32
Yeah. Everything
has been paid for.
00:48:49.36\00:48:50.69
Yeah.
00:48:50.73\00:48:52.06
Now that's important the
more complex situation is,
00:48:52.09\00:48:55.40
the more work you have
to do to try to unravel that
00:48:55.43\00:48:57.73
before we can get any benefit.
00:48:57.77\00:48:59.10
Right, and the more cost.
00:48:59.13\00:49:00.57
Absolutely, right. Yeah.
00:49:00.60\00:49:02.67
I want to say one
thing about the other thing
00:49:02.70\00:49:05.21
that's on television
00:49:05.24\00:49:07.11
besides reverse
mortgages are the ads
00:49:07.14\00:49:10.35
that say annuities,
00:49:10.38\00:49:12.58
and the basic premise
is stop don't do annuities.
00:49:12.61\00:49:17.22
And people have
called me and say,
00:49:17.25\00:49:19.19
"What are they talking about?"
00:49:19.22\00:49:20.56
Yes, I've seen that lately.
00:49:20.59\00:49:21.92
Well, first of all those
are commercial annuities,
00:49:21.96\00:49:25.19
what you do with 3ABN is
a charitable gift annuity.
00:49:25.23\00:49:29.36
It's a totally
different document
00:49:29.40\00:49:33.10
and to do a
charitable gift annuity,
00:49:33.13\00:49:35.50
you have to have
charitable intent,
00:49:35.54\00:49:37.21
and you know the
money is gonna come to 3ABN.
00:49:37.24\00:49:40.61
If you have
questions on those annuities,
00:49:40.64\00:49:43.14
I'd encourage you to
call me, call Earlenne.
00:49:43.18\00:49:46.72
And we can walk you
through why they're saying,
00:49:46.75\00:49:49.88
what they're saying.
00:49:49.92\00:49:51.35
And why you should do
a charitable gift annuity
00:49:51.39\00:49:54.89
with 3ABN.
00:49:54.92\00:49:56.32
There are good reasons
00:49:56.36\00:49:57.69
why you should do a
charitable gift annuity,
00:49:57.73\00:50:00.20
maybe not a commercial,
00:50:00.23\00:50:01.56
I'm not going to say don't do it
00:50:01.60\00:50:03.30
but there are reasons
why you do one or the other.
00:50:03.33\00:50:07.00
But call us and
we'll talk to you about it.
00:50:07.04\00:50:09.64
Yeah.
00:50:09.67\00:50:11.01
That's important, Roy,
00:50:11.04\00:50:12.37
because I've been seeing
commercials really lately
00:50:12.41\00:50:14.64
just in the last year or so
00:50:14.68\00:50:16.01
that are really
death on annuities.
00:50:16.04\00:50:17.91
Oh, they make it sound like
00:50:17.95\00:50:19.81
it's the worse
thing you could do.
00:50:19.85\00:50:21.18
Precisely. But this is not that.
00:50:21.22\00:50:22.55
That's not that.
00:50:22.58\00:50:23.92
This is what we do is not
what they're talking about.
00:50:23.95\00:50:25.49
Not bad at all.
00:50:25.52\00:50:27.26
Amen, and amen.
00:50:27.29\00:50:28.76
So if you see those...
00:50:28.79\00:50:30.13
And it's always good to
call and get some advice.
00:50:30.16\00:50:31.96
These are two lovely people,
and it's a lovely department.
00:50:31.99\00:50:35.06
So you can get information
and they don't bite, in fact,
00:50:35.10\00:50:39.57
they help you out
very, very, very much.
00:50:39.60\00:50:42.54
So don't go by what you
hear on television always,
00:50:42.57\00:50:46.04
listen to the good
information that they have,
00:50:46.07\00:50:50.01
and they can help you out.
00:50:50.05\00:50:53.08
And we're thankful for that.
00:50:53.11\00:50:54.58
Have we covered everything?
00:50:54.62\00:50:56.95
There's so much to
cover but not enough time.
00:50:56.99\00:50:59.05
Not enough
time, not enough time.
00:50:59.09\00:51:02.19
I don't know if we have time
00:51:02.22\00:51:03.56
to talk about charitable
remainder unit trust or not?
00:51:03.59\00:51:07.43
Well, let's do
this, let's do this.
00:51:07.46\00:51:09.36
We'll go to our newsbreak
and then we'll come back,
00:51:09.40\00:51:13.47
I think we'll have
maybe two minutes in change
00:51:13.50\00:51:15.30
and we can kind
of squeeze that in
00:51:15.34\00:51:16.67
before we have to say goodbye.
00:51:16.71\00:51:18.04
Okay. All ready.
00:51:18.07\00:51:19.41