As you think about your estate plan, have you considered giving retirement assets? If you are like most people, you probably will not use all of them during your lifetime. A gift of your retirement assets, such as a gift from your IRA, 401k, 403b, pension or other tax deferred plan is an excellent way to make a gift to your ministry of choice. Click here for more information.
You can also contact us at 913.577.2983 or info@nazarenefoundation.org for more information. To learn more about the Church of the Nazarene Foundation, visit our website, www.NazareneFoundation.org.
Blessings,
Kenneth R. Roney, J.D.
President
PERSONAL PLANNER
Do You Have a Difficult Family?
A businessman with a $2.5 billion estate passed away in 1976. He was single and many individuals, mostly unrelated to him, filed more than 40 wills with the probate court. Not surprisingly, the individuals who filed the 40 wills hoped to become beneficiaries of a large portion of the estate.
Twenty-two cousins fought with all of the other individuals claiming a share of the estate. In the end, the wills were all ruled invalid and the 22 cousins plus the federal government divided up the estate.
Your estate may not be $2.5 billion, but if you have a reasonable level of resources and a difficult family member, there could be a will contest. This may occur because one of your family members or potential heirs might believe that he or she can receive a larger portion of the estate. Some beneficiaries will receive a larger share if your will is valid and some will gain if the will is determined invalid. The difficult person is likely to sue if he or she can gain a larger part of your estate.
How Will a Difficult Person Attack Your Plan?
There are several ways to challenge your will. He or she will claim that you have a lack of capacity, that there were unqualified or improper witnesses, or that there has been undue influence that invalidates the will.
What is Capacity?
Capacity is a legal term that means you are qualified to sign a will. Fortunately, you don't lose capacity simply because you have a "senior moment" or a brief period of forgetfulness. Rather, your capacity is defined as (i) your ability to understand that your will transfers your estate, (ii) that you know the generaltype and nature of your property, and (iii) you can identify the family members who are your potential heirs.
What Questions May the Attorney Ask?
Your attorney will be very interested in making certain that the will is properly signed and qualified to transfer your property. He or she may ask general questions to enable you to show that you're qualified to sign the will. The questions may include, "Why are you here?" and "What do you own?" and "Who are the members of your family?"
You should briefly respond to each of the questions. The attorney and the witnesses will then be able to testify about your capacity if a difficult person claims that you were not capable of signing a proper will.
You should be able to affirm that you understand a will transfers your property and in a general wayidentify the major assets in your estate. You do not need to explain specifically all the property or the exact value, but a general explanation is necessary.
The people you describe as potential heirs will typically be your spouse, children, brothers, sisters, grandchildren, other relatives and special friends. If you are specifically including or excluding someone, you may wish to mention that fact.
In some cases, a doctor is asked to provide additional explanation. He or she may describe your general mental and physical condition and any medications you are currently taking.
The key day is the date you actually sign the will. Even if you just have a "lucid interval" on that day, you generally will be qualified to sign the will. The attorney and witnesses may later be called to testify and can describe your general conduct and statements to assist the court in determining whether you are qualified on that date to sign the will.
What is Undue Influence?
As we become more senior, we tend to have less physical and mental strength. In very senior years, we may have a level of weakness that permits another person to impose their will upon us. The action of a child or caregiver in causing us to sign a will that reflects his or her intent rather than our intent is called "undue influence."
Your child or caregiver may encourage you to sign a new will that would disinherit other children or other beneficiaries and give the estate to him or her. In some cases, the child or caregiver has paid the attorney for a new will that makes him or her the sole beneficiary.
What are the Flags to Watch For?
There are three specific flags or conditions that you should understand. First, if you have physical and mental weakness, you may be more vulnerable. Second, be cautious if the influencer approaches you and offers to obtain the document or pay the attorney. Third, it is a red flag if the influencer is going to receive a larger than normal benefit under the new will.
Is it Acceptable to Sign Your Will if You are in the Hospital?
Because many individuals discover a need to update their will after they become ill, it is very common to sign a will or trust in the hospital. However, there are some cautions or steps that you should take.
First, when you sign the will or trust, the attorney, witnesses and medical staff may be in the room, but the beneficiaries should not be in your presence. The advisors and medical staff in the room are there for your protection and welfare and are objective because they are not receiving a bequest or inheritance.
Second, it is important for you to explain to the attorney, the witnesses and any medical staff present that you understand the will, you have thought through the reasons for rewriting the will and you disclose the name of any person who suggests that you rewrite the will.
While these steps cannot guarantee that a difficult person will not file a claim, you have now taken significant steps to decrease the risk of a will contest.
Does a No-contest Clause Work?
In many states, it is permitted for you to write a no-contest clause into your will. For example, if you have four children who each receive one-fourth of the estate, you might write a provision into the will that says if one of them contests the will, he or she will lose that one-fourth share.
No-contest clauses have often been upheld. One strategy that some individuals use is to provide a reasonable bequest in the will for a difficult heir. If the child or other heir contests the will and loses, he or she will be giving up some meaningful benefit. This may discourage a child or other heir from contesting the will.
Summary
Your will is designed to carry out your intent. If you sign a new will in your very senior years when you are not in the strongest mental and physical health, it can still be valid and upheld. However, taking a few common sense steps to increase the likelihood that there will not be a contest by a difficult family member is quite easy and good judgment on your part.
SAVVY LIVING
How to Tame Pet Care Costs
What tips can you recommend to help pet owners with their veterinary bills? I have two cats and a dog that are family to me, but their vet bills have become unaffordable.
The high cost of veterinary care has become a problem for millions of pet owners today, but it can be especially difficult for seniors living on a fixed income. Routine medical care can cost hundreds of dollars, while urgent/specialized treatments and procedures can run into the thousands. But it is possible to reduce your pet care costs without sacrificing their health. Here are some tips that can help you save.
Shop Around: If you’re not attached to a particular veterinarian, call vet clinics in your area andcompare costs. When you call, get price quotes on basic services like annual exams and vaccinations, as well as bigger-ticket items, like to repair a broken leg, so you can compare. Also, check to see if you live near a veterinary medical school (see aavmc.org for a listing). Many schools provide low-cost care provided by students who are overseen by their professors.
Ask Your Vet for Help: To help make your vet bills more manageable, see if your vet’s office accepts monthly payments so you don’t have to pay the entire cost up front. Also, find out if your vet offers discounts to senior citizens or reduces fees for annual checkups if you bring in multiple pets.
Search for Low-Cost Care: Many municipal and nonprofit animal shelters offer free or low-cost spaying and neutering programs and vaccinations. Some work with local vets who are willing to provide care at reduced prices for low-income and senior pet owners. Call your local shelter or humane society to find out what’s available in your area.
Look for Financial Assistance: There are a number of state and national organizations that provide financial assistance to pet owners in need. To locate these programs, the U.S. Humane Society provides a listing on their website that you can access at humanesociety.org/petfinancialaid.
Buy Cheaper Medicine: Medicine purchased at the vet’s office is usually much more expensive than you can get from a regular pharmacy or online. Instead, get a prescription from your vet (ask for generic is possible) so you can shop for the best price.
Most pharmacies such as Walgreens, CVS, Walmart, Kmart, Rite Aid and Target fill prescriptions for pets inexpensively as long as that same drug is also prescribed to humans. Also, many pharmacies offer pet discount savings programs.
You can also save by shopping online at one of the Veterinary-Verified Internet Pharmacy Practice Sites accredited by the National Association of Boards of Pharmacy, like 1-800-PetMeds (1800petmeds.com), Drs. Foster & Smith (drsfostersmith.com), KV Supply (kvsupply.com), and PetCareRx (petcarerx.com).
Consider Pet Insurance: If you can afford it, pet insurance is another option worth looking into. You can get a basic policy for under $10 per month, and some insurers provide discounts for insuring multiple pets. See petinsurancereview.com to compare policies. Membership discount plans like Pet Assure (petassure.com) are another way to save, but you’ll need to use a vet in their network.
Look for Other Ways to Save: In addition to cutting your veterinary bills, you can also save onpet food and other supplies depending on where you shop. Target, Walmart, Costco and the dollar stores typically offer much lower prices than supermarkets and specialty retailers like Petco and PetSmart. You can also save on treats and toys at sites like coupaw.com and doggyloot.com.
Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070. Read More
YOUR PLAN
Current Gifts
As is the case with many families, there are times each year when Jim and Sharon focus their attention on gift giving. For years, they have created a gift list that includes family members, friends and loved ones. Last year Jim and Sharon made an addition to their list and began including their favorite charity in their giving plan.
Sharon: Years ago, I inherited stock from my grandmother. We held the stock for several years, but decided to sell a portion of it this year. The stock had gone way up in value, and our CPA informed us that we had a capital gain of nearly $120,000. We had always planned on making a charitable gift and the CPA reminded us that if we were to make a gift of this stock before the end of the calendar year, we would receive a charitable deduction on the gifted shares. This deduction will help offset the capital gains tax on the stock we sold.
Jim: We contacted our favorite charity to discuss the best way to make a gift. The gift planner noted some of the most common gifts - a gift by check or by transfer of bonds or real estate, to name a few. However, he also mentioned that it might be especially beneficial for us to think about giving some of our remaining appreciated stock.
Sharon: We were still holding $80,000 in the same highly appreciated stock and did not intend to sell, primarily because of the substantial capital gains tax we already faced. To sell any more would only increase our tax. The gift planner recommended that we consider an end-of-year gift that would help lower our taxes. He called this a Gift and Sale plan. It meant that part of our stock would be sold and the proceeds would come to us, and part would be gifted to our favorite charity.
Jim: That is what we decided to do. By giving the $80,000 in stock, we received two benefits. First, we avoided a large capital gains tax on that stock. And then, we received a charitable deduction. The deduction even offset the capital gains for our prior stock sale of $120,000. We are very pleased with the double benefits of our gift. And, we're delighted that we've been able to make a nice charitable contribution.
*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your benefits may be different, you may want to click here toview a color example of your benefits.Read More
Current Gifts
As is the case with many families, there are times each year when Jim and Sharon focus their attention on gift giving. For years, they have created a gift list that includes family members, friends and loved ones. Last year Jim and Sharon made an addition to their list and began including their favorite charity in their giving plan.
Sharon: Years ago, I inherited stock from my grandmother. We held the stock for several years, but decided to sell a portion of it this year. The stock had gone way up in value, and our CPA informed us that we had a capital gain of nearly $120,000. We had always planned on making a charitable gift and the CPA reminded us that if we were to make a gift of this stock before the end of the calendar year, we would receive a charitable deduction on the gifted shares. This deduction will help offset the capital gains tax on the stock we sold.
Jim: We contacted our favorite charity to discuss the best way to make a gift. The gift planner noted some of the most common gifts - a gift by check or by transfer of bonds or real estate, to name a few. However, he also mentioned that it might be especially beneficial for us to think about giving some of our remaining appreciated stock.
Sharon: We were still holding $80,000 in the same highly appreciated stock and did not intend to sell, primarily because of the substantial capital gains tax we already faced. To sell any more would only increase our tax. The gift planner recommended that we consider an end-of-year gift that would help lower our taxes. He called this a Gift and Sale plan. It meant that part of our stock would be sold and the proceeds would come to us, and part would be gifted to our favorite charity.
Jim: That is what we decided to do. By giving the $80,000 in stock, we received two benefits. First, we avoided a large capital gains tax on that stock. And then, we received a charitable deduction. The deduction even offset the capital gains for our prior stock sale of $120,000. We are very pleased with the double benefits of our gift. And, we're delighted that we've been able to make a nice charitable contribution.
*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your benefits may be different, you may want to click here toview a color example of your benefits.Read More
WASHINGTON NEWS
Premium Tax Credit Approved
Premium Tax Credit Approved
In a 6-3 decision published on June 25, the Supreme Court upheld the Premium Tax Credit Plan under the Affordable Care Act. The King v. Burwell decision considered the question, “Does the Affordable Care Act (ACA) provide a premium tax credit for both federal and state exchanges?”
Chief Justice John Roberts wrote the majority opinion. The plaintiffs in the case pointed to Sec. 36B of the Internal Revenue Code, which states that exchanges are qualified if “established by the State.” Some states did create their own healthcare exchanges, but many states relied on the Federal Government site www.healthcare.gov to provide their exchange.
The Department of Treasury published a regulation under Sec. 36B. This regulation interpreted the ACA provision to allow premium tax credits for both the state and federal exchanges.
Several lower courts attempted to interpret the ACA language and determine whether or not Congress intended “State” to mean “State and Federal.”
Chief Justice Roberts determined that language was ambiguous when the complete statute was considered. He noted, “The Affordable Care Act contains more than a few examples of inartful drafting.”
Because rejecting the premium tax credits for the federal exchange “would destabilize the individual insurance market and any state with a federal exchange, and likely create the very death spirals that Congress designed the act to avoid,” Roberts concluded that the act covered both federal and state exchanges.
Justice Scalia read a very strong dissent when the decision was released. He noted “under all the usual rules of interpretation” there would be no question but that the language specifically included only the state exchanges as qualified for the premium tax credit. He claimed the majority interpreted the “exchange established by the State” to also include “exchange not established by the State.”
Referring to the term for the Supreme Court of the United States (SCOTUS), he drew a laugh from the audience by quipping, “We should start calling this law SCOTUScare.”
Washington Comments on Premium Tax Credit
Following the Supreme Court decision upholding the premium tax credit for both state and federal healthcare exchanges, members of both parties in Washington offered opinions on the case.
Treasury Secretary Jacob Lew had initially approved the regulation that concluded both federal and state exchanges qualified for the premium tax credit. He commented, “The Affordable Care Act is working. Since the law was passed, more than 16 million uninsured people have gained health coverage, and evidence shows that families and businesses are benefitting from improved affordability, access and quality of care.”
House Ways and Means Chair Paul Ryan (R-WI) has expressed concerns about ACA. He responded, “We need a system that makes coverage more affordable and puts patients – not Washington – in charge of healthcare decisions.”
Sen. Orrin Hatch (R-UT) is co-author of a proposed new healthcare plan that is titled the “Patient Care Act.” He stated, “Moving forward, we will continue to seek input on our legislative proposal – the Patient Care Act – and use every opportunity available to give both states and patients more freedom and flexibility. We will continue to work toward real reform that lowers costs and helps Americans access high quality healthcare.”
The Ranking Member of the Senate Finance Committee is Ron Wyden (D-OR). He commented, “The ACA’s core purpose – which has been clear from the outset – is to help as many people as possible get affordable, high-quality health insurance. Tax credits are key to making that work. And today the court has affirmed Congress and the majority opinion of Americans.”
Editor’s Note: Your editor understands that many Americans hold strong opinions on the Affordable Care Act. This summary of the Supreme Court case and responses by Washington officials is offered as an educational service to our readers.Read More
Premium Tax Credit Approved
Premium Tax Credit Approved
In a 6-3 decision published on June 25, the Supreme Court upheld the Premium Tax Credit Plan under the Affordable Care Act. The King v. Burwell decision considered the question, “Does the Affordable Care Act (ACA) provide a premium tax credit for both federal and state exchanges?”
Chief Justice John Roberts wrote the majority opinion. The plaintiffs in the case pointed to Sec. 36B of the Internal Revenue Code, which states that exchanges are qualified if “established by the State.” Some states did create their own healthcare exchanges, but many states relied on the Federal Government site www.healthcare.gov to provide their exchange.
The Department of Treasury published a regulation under Sec. 36B. This regulation interpreted the ACA provision to allow premium tax credits for both the state and federal exchanges.
Several lower courts attempted to interpret the ACA language and determine whether or not Congress intended “State” to mean “State and Federal.”
Chief Justice Roberts determined that language was ambiguous when the complete statute was considered. He noted, “The Affordable Care Act contains more than a few examples of inartful drafting.”
Because rejecting the premium tax credits for the federal exchange “would destabilize the individual insurance market and any state with a federal exchange, and likely create the very death spirals that Congress designed the act to avoid,” Roberts concluded that the act covered both federal and state exchanges.
Justice Scalia read a very strong dissent when the decision was released. He noted “under all the usual rules of interpretation” there would be no question but that the language specifically included only the state exchanges as qualified for the premium tax credit. He claimed the majority interpreted the “exchange established by the State” to also include “exchange not established by the State.”
Referring to the term for the Supreme Court of the United States (SCOTUS), he drew a laugh from the audience by quipping, “We should start calling this law SCOTUScare.”
Washington Comments on Premium Tax Credit
Following the Supreme Court decision upholding the premium tax credit for both state and federal healthcare exchanges, members of both parties in Washington offered opinions on the case.
Treasury Secretary Jacob Lew had initially approved the regulation that concluded both federal and state exchanges qualified for the premium tax credit. He commented, “The Affordable Care Act is working. Since the law was passed, more than 16 million uninsured people have gained health coverage, and evidence shows that families and businesses are benefitting from improved affordability, access and quality of care.”
House Ways and Means Chair Paul Ryan (R-WI) has expressed concerns about ACA. He responded, “We need a system that makes coverage more affordable and puts patients – not Washington – in charge of healthcare decisions.”
Sen. Orrin Hatch (R-UT) is co-author of a proposed new healthcare plan that is titled the “Patient Care Act.” He stated, “Moving forward, we will continue to seek input on our legislative proposal – the Patient Care Act – and use every opportunity available to give both states and patients more freedom and flexibility. We will continue to work toward real reform that lowers costs and helps Americans access high quality healthcare.”
The Ranking Member of the Senate Finance Committee is Ron Wyden (D-OR). He commented, “The ACA’s core purpose – which has been clear from the outset – is to help as many people as possible get affordable, high-quality health insurance. Tax credits are key to making that work. And today the court has affirmed Congress and the majority opinion of Americans.”
Editor’s Note: Your editor understands that many Americans hold strong opinions on the Affordable Care Act. This summary of the Supreme Court case and responses by Washington officials is offered as an educational service to our readers.Read More
FINANCES
Stocks - BlackBerry Implementing Strategic Plan
BlackBerry Implementing Strategic PlanBlackBerry Ltd. (BB.TO) reported its latest quarterly earnings on Tuesday, June 23. The company reported mixed results.
The company reported quarterly revenue of $658 million, a decrease of 32% from the same period last year when the company reported revenue of $966 million. This was below analysts’ expectations that revenue would be $683 million.
“I am pleased with the strong performance of our software and technology business,” said Executive Chairman and CEO of BlackBerry, John Chen. “This is key to BlackBerry’s future growth. Our financials reflect increased investments to sales and customer support for our software business. In addition, we are taking steps to make the handset business profitable. We believe these actions are prudent and necessary to grow the business and we believe the remaining milestones in our strategic plan are achievable.”
BlackBerry reported net income of $68 million for the quarter. This represents a significant increase from the same quarter one year ago when the company reported net income of $23 million.
Mr. Chen took BlackBerry’s helm in November of 2013 and instituted a two-year strategic plan to turn BlackBerry’s struggling smartphone business into a software company focused on mobile security. The company’s latest earnings show this turnaround is on track. BlackBerry generated strong revenue from licensing deals and sales of software that enable companies to manage their employees’ mobile devices. However, the company is still struggling to generate revenue. BlackBerry’s performance during the next year as the company finishes its two-year strategic plan will communicate to investors where the company is heading.
BlackBerry Ltd. (BB.TO) shares ended the week at $10.53, down 3.5% for the week.
Bed, Bath & Beyond Reports Earnings
Bed Bath & Beyond, Inc. (BBBY) reported its latest quarterly earnings on Wednesday, June 24. The company reported an increase in revenue, but a decrease in net income.
The company reported net sales of $2.74 billion for the quarter. This represents a slight increase from the comparable quarter last year when the company reported net sales of $2.66 billion.
“Overall, it was a good start to the fiscal year, as we continue to strive to do more for and with our customers, wherever, whenever and however they express their life interests and travel through their various life stages,” said Steven Temares, CEO of Bed, Bath & Beyond. “At the same time, we continue to make the necessary investments to thrive in an ever-evolving retail environment.”
Bed, Bath & Beyond reported quarterly net income of $158.45 million. This represents a decrease from the same period last year when the company reported net income of $187.05 million.
Bed, Bath & Beyond is struggling as competition from online retailers increasingly cuts into the company’s revenue. To combat this threat, the company has increasingly turned to coupons and promotions to get customers in the door. In addition, the company is buying back stock to buffer earnings per share numbers. However, this strategy is not sustainable. The company will soon need to change strategies. Bed, Bath and Beyond’s future path is still unclear.
Bed Bath & Beyond, Inc. (BBBY) shares ended the week at $71.11, up 0.07% for the week.
Barnes & Noble Reports Quarterly Results
Barnes & Noble (BKS) reported its latest quarterly and annual earnings on Thursday, June 25. The company is still trying to find its niche in a digital world.
The company reported quarterly sales of $1.18 billion and annual sales of $6.07 billion. Both figures represent decreases from the same periods last year. The figures for one year ago put quarterly sales at $1.32 billion and annual sales at $6.38 billion.
“The company is successfully implementing strategic and operating initiatives resulting in the improved performance of each of our business units as we evidenced by our 30% year-over-year consolidated EBITDA,” said Michael P. Huseby, CEO of Barnes & Noble. “We ended 2015 with an improved balance sheet, and also well positioned to move forward with a focus on operations and our customers.”
Barnes & Noble reported a net loss of $19.42 million for the quarter and net income of $36.60 million for the year. These figures represent an improvement over last year. One year ago, the company reported a quarterly net loss of $36.70 million and an annual net loss of $47.27 million.
Two highly anticipated books that will be released in July are Harper Lee’s sequel to “To Kill a Mockingbird,” “Go Set a Watchman,” and Dr. Seuss’s “What Pet Should I Get?” Both are expected to help Barnes & Noble raise annual revenue by 1% this year. That would be the largest increase in seven years.
Barnes & Noble (BKS) shares ended the week at $26.04, down 3.56% for the week.
The Dow started the week of 6/22 at 18,028 and closed at 17,947 on 6/26. The S&P 500 started the week at 2,113 and closed at 2,102. The NASDAQ started the week at 5,148 and closed at 5,081.Read More
Bonds - Treasuries Fall as Greek Debt Talks Continue
Treasuries Fall as Greek Debt Talks ContinueTreasury prices fell and yields rose this week as optimistic investors predicted Greece and its creditors will come to an agreement on Greece’s debt repayment before next week’s deadline. Additionally, news that consumer spending improved last month also caused investors to leave the safe haven of U.S. government bonds.
The leaders of Greece and several European nations continue to negotiate repayment of Greece’s obligations due at the end of this month. Both sides have an incentive to come to an agreement. If Greece defaults it could destabilize an already struggling European Union and cause financial turmoil throughout Europe.
In addition, the U.S. Department of Commerce released a report this week showing that consumer spending rose 0.9% in May from one month earlier. That is the largest rise month-to-month since July to August 2009. Analysts point to an improving labor market, cheaper gasoline prices and the end of winter as the primary reasons for the improvement in household spending.
However, even with this improvement the Federal Reserve continues to worry about weak inflation. The Federal Open Market Committee has set an inflation target of 2% and wants to see movement toward that target before raising interest rates later this year. On Friday, investors saw a 17% likelihood that the Fed would raise rates in September and a 57% likelihood that the rate increase would occur in December. A rate increase will cause bonds currently held to lose value and trade at a discount.
An improving economic picture, optimism with regard to a Greek deal and the possibility of rising interest rates all caused investors to sell bonds this week. As a result, the 10-year U.S. Treasury yield rose to 2.46% in early Friday trading. This is the highest yield since September 2014.
The 10-year Treasury note yield finished the week of 6/22 at 2.48% while the 30-year Treasury note yield finished the week at 3.25%.Read More
CDs and Mortgages - Interest Rates Remain Mostly Unchanged
Interest Rates Remain Mostly UnchangedFreddie Mac released the results of its latest Primary Mortgage Market Survey (PMMS) on Thursday, June 25. The results were mixed as the 30-year and 15-year average rates moved in opposite directions.
The 30-year fixed rate mortgage averaged 4.02% this week. This was up from last week when it averaged 4.00%.
This week, the 15-year fixed rate mortgage averaged 3.21%. This number was down from last week when it averaged 3.23%.
“Mortgage rates were little changed this week,” said Len Kiefer, Deputy Chief Economist at Freddie Mac. “The rate on 30-year fixed rate mortgages was 4.02%, an increase of just 2 basis points from the previous week. Economic releases confirmed increasing strength in housing. Existing home sales increased 5.1% in May to an annual pace of 5.35 million units and new home sales increased 2.2% to an annual pace of 546,000 units. Buyers appear anxious to purchase homes before the expected increase in interest rates later this year. Given the tight inventory for sale, a 5.1-month supply at the current sales pace, home prices are being bid up."
The money market fund finished the week of 6/22 at 0.3%. The 1-year CD finished at 0.6%.Read More
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Are you a Nazarene Legacy Partner (NLP)? The answer is “YES” if you have designated any gift to a Nazarene ministry in your will, bequest, or estate plan. This could be a tithe on your estate, an insurance beneficiary designation to your local church, college, global mission, or any other Nazarene ministry you support.
Send us your name and contact information by reply email and indicate “I am a Nazarene Legacy Partner” and we will add your name to our NLP honor roll. To model generosity inspires others to do the same. Thank you for your interest in gift planning. To access any of this updated financial and gift planning information, please select our website.
The Global Church of the Nazarene Foundation
Are you a Nazarene Legacy Partner (NLP)? The answer is “YES” if you have designated any gift to a Nazarene ministry in your will, bequest, or estate plan. This could be a tithe on your estate, an insurance beneficiary designation to your local church, college, global mission, or any other Nazarene ministry you support.
Send us your name and contact information by reply email and indicate “I am a Nazarene Legacy Partner” and we will add your name to our NLP honor roll. To model generosity inspires others to do the same. Thank you for your interest in gift planning. To access any of this updated financial and gift planning information, please select our website.
The Global Church of the Nazarene Foundation
17001 Prairie Star Parkway, Suite 200
Lenexa, Kansas 66220 United States
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