Legacies A publication of the United Methodist Foundation of Louisiana
Inside This Issue
Will Your Will Be Known? Page 2
How to Recognize and Prevent Financial Scams Page 3
Roofs Up Louisiana! Page 4
WILLS & BEQUESTS:
It is More Blessed to Give Than to Receive Life was cut short unexpectedly for Bill, a member of Munholland UMC in Metairie, when a case of bronchitis turned into COVID-19 in early 2020. Within days of a snowskiing vacation, Bill succumbed to the virus. Life, or loss of it, can happen in the blink of an eye. Having your estate plan in place can mean the difference between having your wishes carried out after you’re gone, or letting state laws dictate what happens to your assets. Bill was a knowledgeable financial planner and executive with a large life insurance company. He knew the importance of a will, and also had a passion for the church and its youth ministry. With his wisdom and creativity, Bill bequeathed a life insurance policy via his will, to the church. He and his wife of more than 40 years, Kathy, were active members at Munholland for decades, and raised their daughter there. He served as a lay leader on many church committees, most recently on the Legacy Committee. His expertise in financial management served the church well. Bill was involved in many charitable organizations in his community, and he and Kathy were generous with their time and financial support. However, the youth ministry was especially important to them. Their daughter had benefited from the youth
“Where Faith and Money Come Together”
1st Quarter 2022
A member of Munholland UMC bequested an insurance policy through his will, which has now been turned into an endowment to support the church’s youth ministry, forever.
program, and they felt that the youth were the future of the church. Bill specifically requested that the life insurance benefit be used to support Munholland’s youth program. Kathy and the Legacy Committee decided to establish an endowment fund so that Bill’s legacy could continue into perpetuity. Kathy was hesitant about sharing their names publicly. She said, “Ours are gifts from the heart, and we don’t need to be recognized for them.” Donors like Bill and Kathy feel that it is more blessed to give than to receive. Their gifts are an example of donors who are not motivated by recognition, but simply want to make a difference. Life can happen quickly. We can all learn from Bill’s example: being prepared for the unexpected and making our wishes known by writing a will.
“In all things I have shown you that by working hard in this way we must help the weak and remember the words of the Lord Jesus, how he himself said, ‘It is more blessed to give than to receive.’” Acts 20:35
Legacies
“Where Faith and Money Come Together”
2022 Board of Trustees Omer Davis Chairman Rev. Weldon Bares L. Nettles Brown Dr. Debra Davis Rev. Doug deGraffenried Mike DeHart Bobby Fahey Irwin Felps Dean Harvey Rev. Michi Head Jarvis Jones Drew Kennedy Sandra Kuykendall Eunice Val Lavigne Richard Lewis Rev. Ashley McGuire Rev. Brian Mercer Troy Searles Rev. Drew Sutton Dianne Wilkinson Chris Spencer President
Contact Us:
The Last Will and Testament is a final communication with friends and loved ones. It is a final opportunity to give expression to personal wishes such as: •
Naming an executor
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Naming a legal guardian for minors
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Making gifts or transfers
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Reducing estate tax liability
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Leave a lasting legacy to be remembered
The charitable bequest is one of the easiest gifts to make and a wonderful way for you to express your specific philanthropic goals. Your gift is important and allows the church or your favorite ministry to continue its work and further its mission.
Options A bequest can be made in several ways: •
You can gift a specific dollar amount or asset
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You can gift a percentage of your estate
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You can gift from the balance or residue of your estate
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You can make a beneficiary designation of certain assets
Learn More To learn more about wills and charitable bequests, go to the Foundation website at www.umf.org and watch a video on wills, and/or download a brochure. The Foundation also offers a free wills guide available for the asking!
Why do I Need a Will? A current will is vital to making sure your wishes are carried out. According to Giving USA, seven out of ten Americans do not have a will! Without a will:
8337 Jefferson Hwy. Baton Rouge, LA 70809
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Settling your estate may be costly for your heirs
Phone: (225) 346-1535
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State law specifies distribution of your assets
Email: information@umf.org
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A court selects the guardian for your dependents
Web Addresses: www.umf.org www.umfgiving.org
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There is NO provision for charitable giving to the things that are important in your lifetime, such as your church or favorite ministries
Legacies Editor: Kelly Johannessen kellyj@umf.org
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WILL YOUR WILL be Known?
Ask us for our free wills guide, “Protecting Your Legacy,” and begin creating your legacy!
1st Quarter 2022
Savvy Living How to Recognize and Prevent
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Financial Scams Dear Savvy Living,
Can you provide some tips on how to be protected from financial scams? My 76-year-old aunt was recently swindled out of $25,000, and I want to make sure my own mother is protected. Financial scams continue to be a huge problem in the U.S. In fact, it is estimated that one in five Americans over age 65 are scammed out of roughly $36 billion every year. Here are some tips that can help you identify a scam and protect your mother.
Recognizing a Scam Spotting a scam or a con artist is not always easy. The most common scams today come in the form of tricky and deceitful telemarketing calls, internet scams, free-lunch seminars selling dubious financial products and endless junk mail peddling free vacation packages, sweepstakes, phony charity fundraisers and more. In addition, there is the ongoing problem of identity theft, Medicare and Social Security fraud, door-to-door scams and credit card theft. To guard against a scam, you may want to help your mother manage her finances or at least monitor her accounts. Reviewing her financial statements each month can alert you to questionable checks, credit card charges or large withdrawals. You can do so through a financial protection service that will automatically monitor
your mother’s accounts, track suspicious activity and alert you and your mother if it detects a problem. If your mother does not want you looking at her financial records, there are other things to watch for that might indicate that she is being targeted by a scammer. For example: Is she getting a lot of junk mail for contests, free trips and sweepstakes? Is she receiving calls from strangers offering awards or moneymaking deals? Also, be aware if her spending habits have changed or she has complained about being short of money lately. All these things may be signs that she is being targeted.
Protect Your Mom The most effective way to help protect your mother is to alert her to the different types of scams going on today. The National Council on Aging maintains a list of the most common financial scams on their website, and your mother can sign up to receive free scam alert emails from the Federal Trade Commission at FTC.gov/scams. In addition, you should remind your mother to never give out
her personal information, Social Security number or financial information unless she initiated the contact and knows the institution. Also, see if your mother would be willing to let you sort her mail before she opens it, so you can set aside the junk. You should also register your mother’s home and cell phone numbers on the National Do Not Call Registry (DoNotCall.gov, 888382-1222) to reduce telemarketing calls. To stop robocall scams on her landline phone, she can speak with her phone company about blocking tools. If she uses a smartphone, she may consider downloading apps that can help block unwanted calls. You may also want to get a copy of her credit report to ensure she is not a victim of identity theft. Report It If you suspect your mother has been scammed, report it to her local police, her bank (if money has been taken from her account) and her state’s Adult Protective Services agency that investigates reports of elderly financial abuse. “Savvy Living” is written by Jim Miller, a regular contributor to the NBC Today Show and author of The Savvy Living book.
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Roofs Up Louisiana! Brings Hope with Roof Repair The “before” photo of one of the homes rebuilt in Lake Charles with funds from “Roofs Up Louisiana!”
“The Community Foundation of SWLA was instrumental in identifying the families who need it most,” Howell said. “Our goal with the Roofs Up campaign is to bring hope to those in our state who have suffered so much during the past couple of years through hurricanes, winter ice storms and flooding,” said Chris Spencer, president of the United Methodist Foundation of Louisiana. “So far, we’ve raised enough funds to provide materials for nearly 20 roofs, and we will continue our endeavor as the coalition moves toward the eastern part of the state.”
The United Methodist Foundation of Louisiana, along with some of its generous donors, has raised $37,500 (at press time) to rebuild roofs for southwest Louisiana residents affected by recent natural disasters.
The Foundation will continue to raise funds to assist with recovery through the Spring. You can be part of the recovery too, by making a donation to Roofs Up Louisiana! Contact Tracie Wharton at the Foundation office for additional details. (traciew@umf.org)
Earlier this year, the Foundation launched a new program, Roofs Up Louisiana!, to help underwrite the cost of supplies to build much-needed roofs on homes affected by Hurricanes Laura and Delta in 2020. The program is part of a coalition of organizations working with the Louisiana Annual Conference of the United Methodist Church, led by new Director of Missional Engagement and Outreach, Bill Howell. Roof building and repair began in January, with most of the labor provided by the Fuller Center Disaster Rebuilders and Mennonite Disaster Services.
A photo of the same home, “after.”