Model Generosity - Leaving a Lasting Legacy Through Planned Giving of the Global Church of the Nazarene Foundation for Saturday, 7 June 2014

Model Generosity - Leaving a Lasting Legacy Through Planned Giving of the Global Church of the Nazarene Foundation for Saturday, 7 June 2014

“They are a fragrant offering, an acceptable sacrifice, pleasing to God. And my God will meet all your needs according to his glorious riches in Christ Jesus.”(Philippians 4:18b-19)
Not only does God meet all of our needs, God is allowing us to help Him meet the needs of others by supporting many ministries through the Church of the Nazarene Foundation. The impact of your sacrifice is felt all over the globe and for years to come.
For more information on how to support the future of your favorite ministry, please reply to this email or contact us by phone at 913.577.2983.
Check out our Facebook page by clicking here. We post articles relevant to donors, inspirational notes, and other helpful information.
Blessings,
Kenneth R. Roney, J.D.

President

PERSONAL PLANNER
Caring for Minor Children
"Who would take our children? I am not sure anyone would be willing to take them," remarked Shelly to her attorney, Jim. "It's not that they aren't good children. They are all fine, but there are 11 of them! If something happens to Pat and me, who will take them?"
Personal Guardian for Minor Children
One very important decision for you to make when creating a plan is to decide who would be the guardian of your minor children. When you write your first will, it is very possible that you still have minor children at home. While you may not have 11 children and face the challenge that confronted Shelly and Pat, this is still a very crucial and important decision.
Your guardian will raise the children, teach them values, select the schools they attend and perform the functions of a parent. If you do not have a guardian selected in a will, a court may select a person. That person may not share your cultural background, your religion, your general world view, or any other aspects of the character that you think important for the person who raises your children. By selecting a guardian and an alternate in your will, you have a much better prospect of finding someone that you think is the right person to raise your children.
Two Parents
If there are two parents, normally the survivor will be selected as the guardian of the children. But if both were to pass away, then it would be necessary to select a guardian.
Even if you select a guardian, there could still be an objection or contest by other family members. The probate judge usually will approve your selection unless there is strong evidence that indicates the person is not qualified. For example, evidence of alcoholism, criminal background or a history of child abuse could lead the judge to select another person. However, in nearly all cases the person that you select is chosen because he or she is the best possible individual to raise your children.
Single Parent
There are several reasons why a person may be a single parent in our society. A single parent may never have been married, there could have been a divorce, or the spouse could have passed away. In all three cases, it is especially important for single parents to have carefully selected a guardian.
Blended Family
If you have divorced and remarried, it may be your desire to have your new spouse as the guardian for children from your first marriage.
Normally, children are placed with their biological parent. However, if you can show good reasons why it is in "the best interest of the child" for your new spouse to be guardian, the court may permit him or her to raise your children. It is desirable for you to write a letter that is retained with your will to explain your reasons why the biological parent is not a good choice and how your current spouse would be the best person to raise your children.
Property for Your Children
If you have a high level of trust in the person selected to be guardian, it is possible to transfer property outright to him or her. However, if you choose to entrust a guardian with your property, you need to recognize that the guardian will have complete control and may choose to use the property for other purposes. This may be an acceptable solution if you have moderate resources, but if your property is substantial, a trust may be a better choice.
Trust for Children
With a moderate to substantial amount of property, it is quite common to create a trust. One person is selected as trustee to manage the property. He or she then transfers the income and, if required, principal to the guardian. The combination of one person managing the property and the guardian raising the children provides checks and balances that achieve the best result for the child.
SAVVY LIVING

Health Insurance Options for Early Retirees
I am 63 and will be retiring in a few months. My wife and I need to find health insurance before Medicare kicks in. Is Obamacare my only option?
Pre-Medicare retirees have several options for health care coverage depending on income and health care needs. Obamacare isn’t the only game in town.
Government Marketplaces
If your yearly income is below 400% of the poverty level, the Obamacare insurance marketplace is probably your best option for getting health coverage. The new law offers federal tax credits that offset the monthly cost of coverage.
To qualify for a tax credit, your household’s modified adjusted gross income for 2013 must have been under $45,960 for an individual or $62,040 for a couple. If your income will drop below 400% of the poverty level in 2014 or 2015 because of your retirement, it may still make sense to buy coverage through the Obamacare marketplace.
To help you see how much you can save, see the subsidy calculator on the Kaiser Family Foundation website at kff.org/interactive/subsidy-calculator.
To shop for marketplace plans in your state, visit Healthcare.gov or call their toll-free helpline at 800-318-2596.
Outside the Marketplace
If you are not eligible for the government subsidy or you want additional policy options you can buy health coverage directly through an insurance company, broker or agent. This option is not available if you live in Washington D.C. or Vermont.
You will not receive a federal tax credit, but insurance companies are required to offer the same baseline benefits as Obamacare policies. Additionally, insurance companies cannot deny you coverage or charge extra for pre-existing health conditions. You might even find slightly lower premiums on outside policies, assuming that you don’t qualify for a federal tax credit under Obamacare.
Another reason for shopping outside the marketplace is to find a plan that allows you to visit your preferred doctors and hospitals. Many plans offered in the Obamacare marketplaces provide a very limited number of health care providers.
To shop for these policies, contact an insurance company, broker or agent and ask if they offer policies that are not available through the government marketplaces.
To find a local broker or agent that sells insurance plans, check the National Association of Health Underwriters website (nahu.org) which has an online directory. Keep in mind that agents won’t necessarily show you all available policies, just the ones from insurers they work with.
You can also look for these plans at insurance shopping sites like eHealthInsurance.com or GoHealth.com, which list plans and providers that may not be listed on Healthcare.gov.
COBRA
If you only need health insurance coverage for a short period of time before becoming Medicare eligible, another option you may want to consider is COBRA. COBRA coverage allows you to remain on your former employer’s group health plan for up to 18 months, but not every employer plan is COBRA eligible. Contact your employer benefits administrator to find out if yours is.
In most cases COBRA is expensive, requiring you to pay the full monthly premium yourself. However, it may make sense to keep your current coverage under COBRA if: (1) you have already met your deductible and/or out-of-pocket maximum for the year and don’t want to start over with a new plan; or (2) your employer’s health plan is better or more affordable than the government or private marketplace options.
Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Senior" book. The 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 Senior, P.O. Box 5443, Norman, OK 73070.
YOUR PLAN

John and Orlene Pierson's Legacy
Heroes of generosity don't always have big bank accounts. For years, John Pierson drove a milk route and worked long hours. But he and his wife, Orlene, found time and energy to maintain their church facilities, call on those who were sick and homebound, and make a bold lead pledge in the capital campaign to build a new church facility.
It is as if the spirit of generosity was ingrained in the Piersons. One holiday morning their pastor, after bringing his wife home from the hospital to recuperate after major surgery, found John and Orlene waiting at his home with dinner. What a moving and appropriate gift of love for that clergy family.
John and Orlene were Nazarene Legacy Partners, modern day heroes who made a difference in advancing God's Kingdom. In the later stages of their lives, a member of the Nazarene Foundation staff visited the Piersons in their assisted living facility and was moved to tears as John tenderly cared for his wife who was in the late stages of Alzheimer's disease. Just a few weeks later, Orlene died.
Not long after this at 95 years old, John was playing his violin, sharing beautiful music with other senior adults. As he concluded the last chorus of "To God Be the Glory" where the lyrics state: "O come to the Father, thro" Jesus, the Son," this dear saint slumped over with a heart attack and died. One of his caregivers, who often tried to keep up with John on his afternoon strolls, said, "This was John's good-bye party."
Through the Piersons' Charitable Trust and Charitable Gift Annuities, the Church of the Nazarene Foundation was privileged to make significant distributions to the local church John and Orlene attended as well as to other Nazarene ministries that were near to the hearts of the Piersons.
Faithful people, such as the Piersons, who have modeled generous living and Christlike service, give us cause to offer thanks as Paul did when he wrote his letter to the Romans. 
Learn more about the many planned giving services the Foundation offers and how to leave a legacy gift to the ministries you love, contact the Church of the Nazarene Foundation and we will be happy to assist you.
Note: This is one in a series of articles for "Modeling Generosity" a series where Holiness Today partners with the Church of the Nazarene Foundation and other entities. Learn how God's people model generosity in their lives. Help inspire others to leave a lasting legacy by sending your stories, or the story of someone you know who lives generously, to info@nazarenefoundation.org.
WASHINGTON NEWS

IRS Tips for Disaster Response
As the summer hurricane and tornado seasons approach, the IRS published IR-2014-71 to offer tips on safeguards for both individuals and businesses. Each person and business is encouraged to prepare a plan to respond to potential natural disasters. The typical plan may have three or four components.
1. Electronic Backup – Everyone should keep appropriate records. The IRS recommends making an electronic copy of your bank statements, tax returns and insurance policies. Many organizations now provide these documents in PDF format. However, it is fairly easy to use a scanner in your home or at a local copy store for all of your documents. With your documents in electronic form, they can be saved using internet services, on a USB flash drive, an external hard drive or on a CD or DVD.
2. Records of Valuables – It is very helpful for you to have appropriate records of your home and any items of higher value. There is an IRS disaster loss workbook, Publication 584, that offers advice on making a list of your property. Because most persons now have a smartphone with a camera, it’s also quite easy to take digital pictures of all valuables. These picture files may then be saved together with your other electronic records.
3. Updated Emergency Plans – Each individual or business should have plans for emergency supplies in your location and potential evacuation site. The emergency supplies typically include medical kits, food and water. With a major emergency, it may be necessary to remain in that location for a period of time. However, with a hurricane or tornado it may also be appropriate to evacuate. For businesses, the “stay in place” and evacuation plans should be shared with all employees.
4. IRS Assistance – The IRS has staff trained to handle disaster-related issues. Taxpayers may call 1-866-562-5227. If you need copies of tax returns or other documents, file IRS Form 4506, Request for Copy of Tax Return. There also is a Form 4506T-EZ that is a shorter and more convenient version of that form.
Disaster preparedness is an excellent concept. While your risk of a disaster in one year may be fairly low, each year there are major fires, storms, floods, hurricanes, tornadoes and other natural disasters across the nation. It is good advice to “be prepared” for a potential natural disaster.
FINANCES

Stocks - Men’s Wearhouse Reports Earnings
Men’s Wearhouse, Inc. (MW), a men’s clothing retailer, reported its latest quarterly earnings on Thursday, June 5. The company reported solid earnings and will soon complete its acquisition of Jos. A. Bank.
Men’s Wearhouse reported net sales of $630.47 million for the quarter. This represents an increase of 2.26% from the same period last year when the company reported net sales of $616.54 million.
“We are excited about our near-term and long-term opportunities,” said Doug Ewert, Men’s Wearhouse President and CEO. “As previously disclosed, the Federal Trade Commission terminated the waiting period under the Hart-Stock-Rodino Antitrust Improvements Act of 1976, as amended. We now expect to complete the combination of Men’s Wearhouse and Jos. A. Bank within the next few weeks and look forward to achieving the benefits of the combination for our shareholders.”
The company reported quarterly net income of $16.49 million. This represents a decrease from the comparable period last year when the company reported net income of $33.09 million.
Men’s Wearhouse announced in March that it would acquire men’s clothing store Jos. A. Bank for $1.8 billion. The Federal Trade Commission then announced that it would be investigating the proposed acquisition for possible antitrust violations. The FTC announced this week that the merger would not violate antitrust laws. Men’s Wearhouse is expected to finalize its acquisition of Jos. A. Bank very soon.
Men’s Wearhouse, Inc. (MW) shares ended the week at $54.26, up 9% for the week of 6/2.
J.M. Smucker Co. Reports Earnings
The J.M. Smucker Company (SJM), manufacturer of food products for worldwide distribution, reported its fourth quarter and fiscal year 2014 results on Thursday, June 5. The company reported a decrease in sales but an increase in net income for the year.
The company reported net sales of $1.23 billion for the quarter and $5.61 billion for the year ending April 30, 2014. The annual sales figure represents a decrease of 4.9% from fiscal year 2013 when the company reported net sales of $5.9 billion.
“Our 2014 record earnings per share achievement once again demonstrates that the principles that have guided our Company for 117 years continue to deliver results regardless of the headwinds encountered,” said Richard Smucker, CEO of J.M. Smucker Company. “We delivered 5% non-GAAP earnings per share growth and returned over $730 million in cash to shareholders through dividends and share repurchases in 2014. These accomplishments are a product of our long-term, forward-looking growth strategy, the strength of our iconic brands, an aggressive innovation pipeline, and the commitment and perseverance of our team.”
The company reported quarterly net income of $118.5 million and annual net income of $565.2 million. Annual net income increased 3.86% from fiscal year 2013 when the company reported net income of $544.2 million.
The J.M. Smucker Company was founded by James Monroe Smucker in 1897. James was an Ohio farmer that began by selling apple butter from the back of his horse-drawn wagon. Since then, the company has had five CEOs all within the Smucker family. James Monroe was chief executive until 1947 when his son Paul Smucker took over. Paul was CEO until 1987 when his sons Timothy and Richard Smucker took over and now share the position. Mark Smucker and Paul Smucker are currently Division Presidents and waiting their turn for the big chair. This sort of longevity is rare in such a large public company. However, as long as the company is doing well for shareholders then the Smucker legacy is likely to continue.
The J.M. Smucker Company (SJM) shares ended the week at $105.70, up 2.9% for the week of 6/2.
Vail Resorts to Make Improvements
Vail Resorts, Inc. (MTN), operator of resorts in the United States, reported its quarterly earnings on Thursday, June 5. The company plans to make improvements to its ten mountain resorts for the winter season.
The company generated $543.05 million in revenue during the latest quarter. This represents an increase from the same period last year when the company generated $469.69 million in revenue.
“We are very pleased with our performance in the third quarter of fiscal 2014,” said CEO Rob Katz. “We saw continued strong performance in Colorado and improved results in Tahoe, leading to an 11.2% increase in total visitation this quarter compared to the prior year. Total lift revenue increased by 17.1%, ski school revenue increased by 16.8% and total mountain revenue increased by 14.6% compared to the prior year. Our mountain performance includes the results of Canyons, which were in line with our previous public estimates, and the results of our Urban ski areas, whose performance was ahead of our expectations.”
The company reported net income of $117.87 million. This is an increase from the comparable quarter last year when the company reported net income of $97.59 million. Earnings per share came in at $3.18 per share.
Vail Resorts announced that it will spend $85 million to improve its 10 mountain resorts during fiscal year 2015. This is in addition to the $407 million in improvements the company has already made during the past four years. The company will add several express chairlifts, restaurants and room renovations.
Vail Resorts, Inc. (MTN) shares ended the week at $76.23, up 7.9% for the week of 6/2.
The Dow started the week of 6/2 at 16,717 and closed at 16,924 on 6/6. The S&P 500 started the week at 1,924 and closed at 1,949. The NASDAQ started the week at 4,248 and closed at 4,321.
Bonds - Treasuries Fall After Jobs Data Release
Treasuries fell and yields rose after the U.S. Department of Labor released jobs data for May. While the figures were in line with economist’s expectations, the labor force participation rate remains low.
The U.S. economy added 217,000 jobs in May. Economists had expected that 215,000 would be added. May is the fourth consecutive month with job growth exceeding 200,000 jobs. The last similar streak was from September 1999 to January 2000. The unemployment rate remained at 6.3%.
“The number suggests a pattern of consistency and a gradually improving labor market,” said Christopher Sullivan, Chief Investment Officer at United Nations Federal Credit Union. “Until there is a big change in the data, one way or the other, we will continue to hover around these levels.”
On Thursday the 10-year note yield reached a high of 2.64%. During early Friday morning trading the 10-year note yield dropped two basis points to 2.57%.
Fed Chair Janet Yellen stated that the federal funds rate will stay at almost zero for a “considerable time.” Currently futures prices put the likelihood that the federal funds rate will begin to rise by June 2015 at 43%.
The 10-year Treasury note yield finished the week of 6/2 at 2.6% while the 30-year Treasury note yield finished the week at 3.44%.
CDs and Mortgages - Interest Rates Increase Slightly
Freddie Mac released the results of its latest Primary Mortgage Market Survey (PMMS) on Thursday, June 5. The results showed average mortgage rates rising slightly compared to last week.
The 30-year fixed rate mortgage averaged 4.14% this week. This represents an increase from last week when it averaged 4.12%. Last year at this time, the 30-year fixed rate mortgage averaged 3.91%.
This week, the 15-year fixed rate mortgage averaged 3.23%. This represents an increase from last week when it averaged 3.21%. One year ago, the 15-year fixed rate mortgage averaged 3.03%.
“Mortgage rates were little changed amid a week of light economic reports,” said Frank Nothaft, Vice President and Chief Economist at Freddie Mac. “Of the few releases, real GDP was revised down to 1% growth in the first quarter of 2014. ADP Research Institute estimated the private sector added 179,000 in May, which followed a slight downward revision of 5,000 jobs in April. Meanwhile, the Institute for Supply Management reported the manufacturing industry saw a slight acceleration in monthly growth for May.”
The money market fund finished the week of 6/2 at 0.3%. The 1-year CD finished at 0.7%.
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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.
Global Church of the Nazarene Foundation
17001 Prairie Star Parkway, Suite 200
Lenexa, KS 66220 United States
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