Legacy Living Newsletter planned Giving AG financial Solutions fall | Winter 2010
The Cross and the Switchblade
A story of stewardship few books have impacted the world like The Cross and the Switchblade. Selling over 14 million copies and translated into 35 different languages in 150 countries, the book also inspired a film, comic books and tracts, and has touched countless lives. When co-authors, John and Elizabeth Sherrill set out to tell the story of David Wilkerson and the gangs of New York City in the early 1960s, they intended to write only one article. As Elizabeth describes it, “We soon discovered that one story just didn’t cover enough, so we wrote another story, and then another. The more we worked on it, the more we looked at each other and said, ‘This feels like a book.’” When the resulting book manuscript was ready to be sent to the publisher, David took it to his garage which had been turned into his prayer closet. There he knelt down, placing the stack of pages on the seat of his chair. John reflects, “And as David read, he put his hands on every single page of the book, praying for the Holy Spirit’s own blessing of that page.” So from the very first, The Cross and the Switchblade was about ministry and stewardship. In time, due to the original publishers' financial problems, the Sherrills were able to acquire the publishing rights to the book. As the book’s new publisher, whenever they were presented with a request from a struggling overseas company who wanted to print the book, the Sherrills drew up a favorable
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agreement for a minimal price, often for just one dollar. The Sherrills were able to bless these ministries by being good stewards of what God had enabled them to accomplish. Recently the Sherrills placed their rights and interests from The Cross and the Switchblade into a Charitable Remainder Trust. The trust is providing income for John and Elizabeth for the rest of their lives. The remainder will then be gifted to Global Teen Challenge, as the named trust beneficiary, to help further its ministry. As John puts it, “The arrangement was good for all concerned.” What the Sherrills did A Charitable Remainder Trust (CRT) allowed John and Elizabeth to make a generous gift to ministry while still retaining income generated by the trust. Advice from the Sherrills “Don’t try and do anything alone, it is much too complex, much too complicated. Planning is a field for experts. We think that AG Financial Solutions were straight shooters and were very clear on what they did or did not understand and were just unbelievably helpful. Our experience has been one of unqualified appreciation.” The testimonial found on this page is an example of what we have done for clients, and what some of our clients have said about us. However, we cannot guarantee the results in any case. Your results may vary and every situation is different. No compensation was provided for the testimonial.
Welcome to Legacy Living We are excited to bring you the first edition of our biannual newsletter. We hope you will look to Legacy Living, as an ongoing source of practical, timely information on stewardship, estate planning, and other financial matters. This edition includes insight on how other donors began their legacies, an estate tax update, and much more. It is our desire that you be encouraged to consider creating your own legacy. Planning can make a difference and there is no better time than today to start. A planned gift can be used to reach the financial goals you have for yourself and your family, as well as to change lives for eternity. AG Financial Solutions stands ready to help and we look forward to sharing many more inspiring testimonies that highlight the generosity of individuals and families.
Donald M. Headlee Executive Vice President Chief Business Development Officer
9/17/10 11:25 AM