Lenexa, Kansas, United States - Leaving a Lasting Legacy Through Planned Giving from the Global Church of the Nazarene Foundation for Saturday, 23 August 2014

Lenexa, Kansas, United States - Leaving a Lasting Legacy Through Planned Giving from the Global Church of the Nazarene Foundation for Saturday, 23 August 2014

“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work."(2 Corinthians 9:7-8) How should we approach giving? In his commentary on 2 Corinthians 9:7, Matthew Henry states, "Works of charity, like other good works, should be done with thought and design; whereas some do good only by accident." May the desires of our hearts be focused on giving thoughtfully, so that we may "abound in every good work."  For more information on how to use your resources 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 Chronic Illness - Care of Your Person If you have a chronic illness, your personal planning will need to involve careful consideration of your condition. Many Americans experience ALS disease, Alzheimer's, Huntington's disease, Parkinson's disease, multiple sclerosis (MS) or other types of chronic diseases. If you or a loved one has one of these conditions, it is important to communicate with your attorney and other advisors about your condition. There are specific planning options both during life and for your testamentary plan that should be considered. ALS (Lou Gehrig's disease) is a disease that progressively affects a person's ability to control muscle movement. Symptoms include muscle twitching and cramping. Most ALS victims will eventually need a ventilator for breathing, but often will be quite clear-headed during their lifetime. Alzheimer's is a disease with a progressive reduction in mental capacity. Mild Alzheimer's may be identified by memory lapse and forgetfulness. As Alzheimer's progresses, the individual begins to lose speech facility, forgets to follow normal personal cleanliness habits and loses control. Often, the Alzheimer's sufferer eventually loses the ability to recognize family members and other loved ones. Huntington's disease is an inherited disorder. The person with Huntington's disease may have great difficulty with coordination and eventually will suffer from dementia and require full-time care. Parkinson's disease is a disorder of the nervous system. It can lead to progressive deterioration of both the physical body and mental capabilities. Because there is great variation with the disease, some individuals with treatment are able to live reasonably long lives. Multiple sclerosis (MS) is also a disorder of the nervous system. There is progressive damage to nerve fibers that leads to physical and mental disability. MS may be fairly moderate at first but tends to lead to attacks that can cause progressive deterioration. MS may range from fairly mild to quite severe and very debilitating. These five and other chronic diseases are all unique and different. Some afflict the body and others reduce the capabilities of the mind. For example, Alzheimer's has greater impact on mental ability, while ALS victims are often suffering in body but may be quite clear in mind. Your attorney and other advisors need to understand the conditions sufficiently well so that your documents and plans reflect your particular circumstance. The principal documents for any chronic illness are a durable power of attorney for healthcare, a living will and a HIPAA release. In many states, the durable power of attorney for healthcare and living will are combined into one document described as an advance directive. Durable Power of Attorney for Healthcare If you have a chronic illness, particularly one that leads to loss of mental capacity, it is very important to have a designated person who can make medical decisions for you. In the event that you are unable to reason or communicate, your designated advisor must discuss your medical care with doctors and hospital staff. A durable power of attorney for healthcare allows you to designate a trusted person to speak to the doctors on your behalf. This power in some states is a separate document. In others, it is the first portion of an advance directive. Many states refer to the person holding the durable power of attorney as your "healthcare proxy." Regardless of the form of the document or the name of your agent, this person is qualified to make your medical decisions if required. Whom Should You Appoint? For a person with a chronic illness, this can be a challenging decision. You would like to select someone who understands your medical condition and your preferences about care. This could be a family member or friend. Adult children are often selected, but may experience great emotional trauma in making an end-of-life decision. A friend may be a good choice if you do not have a child who feels willing or emotionally capable of making those decisions. Generally, you will select a healthcare proxy agent and a successor. It is usually best not to select two persons as your proxy agent—they might disagree at a critical time while you are in need of an immediate decision. Living Will A person with chronic illness needs both a healthcare proxy agent and a living will. Your healthcare proxy agent can make decisions regarding your care, even if you are not near death. The function of the living will is to describe your preferences for care if you are potentially in your last weeks or days of life. The advance of medical science has enabled doctors to keep people alive for extended periods of time, even if there is virtually no possibility of recovery. If you are in this circumstance, your living will provides guidance to your doctors. For example, the living will can discuss whether or not heroic measures will be taken to sustain your life. If you have an irreversible condition with no chance of recovery, the living will also specifies whether nutrition and hydration will be maintained. If you suffer from one of the chronic illnesses that affects mental capacity, it may be important for you to sign your living will before you have mental deterioration. Many Alzheimer's patients and other individuals with great mental deterioration are no longer capable of signing a living will. Health Insurance Portability and Accountability Act (HIPAA) In 1996, Congress passed the Health Insurance Portability and Accountability Act. HIPAA was designed to protect your rights to medical information. Your doctor and other medical providers will frequently acquire extensive background information and treatment information for your chronic illness. Under the HIPAA rules, there are safeguards to protect your personal medical information. A doctor, medical center, or other provider may not disclose this information, particularly to someone who will use it for marketing or similar purposes. However, you may wish to have your medical information released to your professional advisors so they can make appropriate decisions for you. In order to receive this information, your healthcare proxy must have a formal release from you. The HIPAA release, which will be in writing, should describe the health information that may be released to the person. It may provide a general list of medical centers or providers or could have an open-ended release for any hospital or medical provider and may include a termination date. After you sign your HIPAA release, you can always revoke that release and sign a new one. Many states have specific forms for advance directives, living wills, or durable powers of attorney for healthcare. You will want to be certain that you have signed the correct form for your state.
	SAVVY LIVING How to Get a Medicare Covered Power Scooter or Wheelchair What’s the process for getting Medicare to pay for an electric mobility scooter or power wheelchair? My 76-year-old mother has arthritis in her knees and hips and has a difficult time getting around anymore. Getting an electric-powered mobility scooter or wheelchair for your mom that’s covered by original Medicare starts with a visit to her doctor’s office. If eligible, Medicare will pay 80% of the cost after she meets her $147 Part B deductible. She will be responsible for the remaining 20%. Here’s a breakdown of how it works. Make an Appointment Your first step is to call your mom’s doctor and schedule a Medicare required, face-to-face mobility evaluation to determine her need for a power wheelchair or scooter. For your mom to be eligible, she’ll need to meet all of the following conditions: Her health condition makes moving around her home very difficult even with the help of a cane, walker or manual wheelchair. She has significant problems performing activities of daily living like bathing, dressing, getting in or out of a bed or chair or using the bathroom. She is able to safely operate and get on and off the scooter or wheelchair or have someone with her who is always available to help her safely use the device. If eligible, your mom’s doctor will determine what kind of mobility equipment she’ll need based on her condition, usability in her home and ability to operate it. It’s also important to know that Medicare coverage is dependent on your mom needing a scooter or wheelchair in her home. If her claim is based on needing it outside her home, it will be denied as not medically necessary because the wheelchair or scooter will be considered a leisure item. Where to Shop If the doctor determines your mom needs a power scooter or wheelchair, he or she will fill out a written order or certificate of medical necessity (CMN) form for her. She must take the CMN to a Medicare approved supplier within 45 days. If your mother happens to live in one of Medicare’s competitive bidding areas, you’ll need to get her device from specific suppliers approved by Medicare. To find approved suppliers and competitive bidding suppliers in your area, visit medicare.gov/supplier or call 800-633-4227. Once you choose an approved supplier, they will send a representative to assess your mom’s home. The representative will measure her doorways, thresholds and overall space to ensure she gets the appropriate mobility device. Financial Assistance If your mom has a Medicare supplemental policy, it may pick up some or all of the 20% cost of the scooter or wheelchair that’s not covered by Medicare. If, however, she doesn’t have supplemental insurance and can’t afford the 20%, she may be able to get help through the Medicare Savings Programs. Call your local Medicaid office for eligibility information. If you find that your mom is not eligible for a Medicare covered scooter or wheelchair and she can’t afford to purchase one, renting can be a much cheaper short-term solution. Talk to a supplier about this option. For more information, call Medicare at 800-633-4227 and request a copy of publication #11046 “Medicare’s Wheelchair and Scooter Benefit.” You can also read it online at medicare.gov/publications/pubs/pdf/11046.pdf. Medicare Advantage If your mom happens to have a Medicare Advantage plan (like an HMO or PPO), she’ll need to call her plan to find out the specific steps she needs to take to get a wheelchair or scooter. Many Advantage plans may have specific suppliers within the plan’s network they’ll require her to use. 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.
YOUR PLAN The Egg Endowment Let me tell you about a big egg business. Coming out of the military service at the close of the Korean war, Randall decided to put his agriculture degree to work, so he went into the chicken business. Randall and his wife, Janet, put it all on the line. For several years they struggled to make ends meet and finally, during one real desperate business cycle, they decided to turn their chicken business over to God. Janet said they prayed, "Lord, this is your business, do what you will with it."  God heard their prayers. Over the years, He prospered their labor. They eventually built a very large chicken business with over 16 million chickens housed in various states. They continued to honor God's faithfulness by becoming generous givers and teaching the principles of generous giving to their four children. In 2007, Randall, Janet and some of their family established a substantial endowment fund with the Church of the Nazarene Foundation. This endowment fund will generate income to the local Church of the Nazarene for use in family and children's ministries. The pastor says, "This gift will enable our church to reach into the homes and lives of countless people without negatively impacting our daily operational needs."  The eggs they gathered over a lifetime will produce far more than a wonderful breakfast.
WASHINGTON NEWS Koskinen Warns of IRS Problems Speaking to the National Society of Accountants (NSA) in Baltimore on August 21, IRS Commissioner John Koskinen warned of future IRS problems. The two primary challenges for the IRS are budget cuts and tax extenders. The House of Representatives Appropriations Committee has proposed a $1 billion reduction in IRS funding. Koskinen stated, “People don’t vote for me – they vote for members of Congress. Congress needs to hear and understand the impact of the funding cuts. As I tell people on Capitol Hill, we are the only agency still operating at the post-sequester level.” Koskinen explained that our tax system is built on the principle of voluntary compliance. He continued, “Congress is starving our revenue-generating operation. If voluntary compliance with the tax code drops by 1%, it costs the U.S. government $30 billion per year. The IRS annual budget is only $11 billion per year.” Koskinen expressed appreciation to NSA for a letter to the House Appropriations Committee opposing the IRS cuts. The IRS has already reduced call center employees by 5,200. In 2013, the IRS was able to respond to 71% of phone requests for assistance. With the reduced number of call center employees, Koskinen estimates that the response rate will decline to 60% this year. A second major issue for the IRS is the tax extenders bill. Both the House and the Senate have not completed work on their respective versions of the bill. Therefore, it now is very probable that there will not be a completed tax extenders bill until November or even December. Because the IRS computers cannot be programmed until the President signs a bill, there may be delays in the ability of the IRS to process the 2014 tax returns. Koskinen concluded, “Congress needs to understand that the later these are passed and the more complicated they are, the more challenging it is for taxpayers to file accurate returns on time.” Ryan Supports Charitable Deduction, But Caps Mortgage Deduction In a national media interview on August 20, House Budget Committee Chairman Paul Ryan (R-WI) discussed the mortgage interest deduction and the charitable gifts deduction. The current Ways and Means Chairman Dave Camp (R-MI) is retiring at the end of this year. Earlier in 2014, Camp published a comprehensive tax reform draft bill. The bill included a cap on the mortgage interest deduction. The existing amount that qualifies for the interest deduction would be reduced from $1 million to $500,000 for a married couple and $250,000 for a single person. Ryan indicated that he felt this was an appropriate change. The mortgage interest deduction was intended primarily to benefit the middle class. The reduced levels would continue to benefit the middle class, while some upper-income persons would find their deduction capped. Ryan was also asked about the Camp proposal to reduce the top 50% of adjusted gross income charitable deduction limit. Ryan did not agree with the Camp proposal. He stated, “I believe we should not have a top cap” on the charitable deduction because the basic function of the deduction is to enable donors to “feed civil society.” While the 50% limit does provide greater deductions for upper-income persons, it also facilitates the transfer of funds that supports those in need. Ryan has been supportive of charitable giving to reduce poverty. He focused on reduction of the poverty level in America in his book, The Way Forward: Renewing the American Idea. One of the strategies he proposes is to expand the earned income tax credit to benefit childless workers. This plan is designed to encourage more young single persons to move into the employed category. Editor’s Note: With the retirement of Ways and Means Chairman Camp, Rep. Ryan is a potential candidate to move into that position in 2015. If Ryan does become Chairman of the Ways and Means Committee, his support of the charitable deduction is favorable for philanthropy.
Finances   Stocks: Is HP Turning Around? Hewlett-Packard Company (HPQ), a well-known technology company, reported its latest quarterly earnings on Wednesday, August 20. Despite the company’s healthy revenue this quarter, analysts warn that the company still has a lot of work to do in order to make it a good long-term investment. HP reported quarterly revenue of $27.59 billion. This represents an increase from the same period last year when the company reported revenue of $27.23 billion. “Overall, I’m very pleased with the progress we’ve made,” said Meg Whitman, Chairman, President and CEO of HP. “When I look at the way the business is performing, the pipeline of innovation and the daily feedback that I receive from our customers and partners, my confidence in the turnaround grows stronger.” The company reported net income of $985 million for the quarter. This represents a decrease from the comparable quarter last year when the company reported net income of $1.39 billion. Earnings per share came in at $0.52 per share, down from the $0.71 per share reported a year ago. In May of 2012, Meg Whitman instituted a restructuring initiative. The initiative will cut a total of 50,000 jobs and invest the funds saved back into the business. The purpose was to fuel innovation through investment and cut costs. The company is planning to invest heavily in infrastructure equipment for cloud-based services. The current market leader in this industry is Cisco Systems, Inc. (CSCO). Only time will tell whether HP’s restructuring effort will pay off for investors. Hewlett-Packard Company (HPQ) shares ended the week at $36.84, up 3.7% for the week. Intuit is on Cloud Nine Intuit, Inc. (INTU), creator of software products such as QuickBooks and TurboTax, reported its fourth quarter and fiscal 2014 earnings on Thursday, August 21. The company’s impressive revenue figures were driven by an increase in subscribers to its online services. Intuit reported fourth quarter revenue of $714 million and annual revenue of $4.51 billion. This represents an increase from last year when quarterly and annual revenue was $634 million and $4.17 billion, respectively. “We closed fiscal 2014 on a strong note. Overall customer growth is accelerating, active use and attach rates are increasing, and global adoption is in full swing,” said Brad Smith, Intuit’s President and CEO. “We’ve reached an inflection point, as more new customers choose QuickBooks Online over QuickBooks Desktop, fueled by the success of our reimagined QuickBooks Online product experience.” The company reported a net loss of $39 million for the quarter and net income of $858 million for the year. This compares somewhat unfavorably to last year when the company reported a $16 million loss during the fourth quarter and net income of $897 million. Software companies such as Intuit have been under pressure to move their desktop products to the cloud. As a result, Intuit has cloud-based versions of its most popular software offerings, including Quicken, QuickBooks and TurboTax. During the past ten years Emergent Research and Intuit have teamed up to track trends in small businesses and just released a report entitled “Small Business Success in the Cloud.” This report details how small businesses can use cloud technology in innovative ways to increase efficiency and achieve long-term success. Intuit, Inc. (INTU) shares ended the week at $83.57, down 0.8% for the week. Target’s Earnings Disappoint Target Corporation (TGT), a general merchandise store, reported its quarterly earnings on Thursday, August 21. The company is trying to rebound from a difficult year but released earnings that disappointed investors. Target reported $17.41 billion in quarterly revenue. This represents a slight increase from the same period last year when the company reported revenue of $17.12 billion. “While results from the quarter didn’t meet our expectations, we are seeing some early signs of progress as we work to improve results in the U.S. and Canada,” said John Mulligan, Executive Vice President and CFO of Target. “In the U.S., traffic trends continue to recover and monthly sales are improving, with July comparable sales up more than 1%. Better U.S. sales have continued into August, driven by early back to school results. In Canada, the team is making important changes to operations and the merchandise assortment with a focus on delivering improved results by this holiday season.” The company reported net income of $234 million for the quarter. This represents a significant decrease from the comparable quarter last year when the company reported net income of $611 million. Earnings per share came in at $0.37 per share, down from $0.95 per share one year ago. Target is dealing with the aftermath of a security breach where computer hackers stole the credit card information of up to 70 million customers. The company reported $148 million in costs associated with the breach this past quarter. In addition, the company has had a difficult rollout in Canada where it has launched 130 stores since 2013. Canadian operations lost $1 billion in 2013 and more losses are forecast for this year. Former CEO Gregg Steinhafel was replaced by Brian Cornell in July 2014. It will be interesting to see whether the new leadership will be able to help Target once again hit the mark. Target Corporation (TGT) shares ended the week at $61.05, up nearly 5.2% for the week. The Dow started the week of 8/18 at 16,664 and closed at 17,001 on 8/22. The S&P 500 started the week at 1,958 and closed at 1,988. The NASDAQ started the week at 4,491 and closed at 4,539. Bonds: Treasuries Fall as Rate Hike Seems Imminent Treasuries fell and prices rose on Friday, August 22 after the Federal Open Market Committee (FOMC) released the minutes of its July meeting. The content of the minutes caused investors to speculate that the Federal Reserve may raise the federal funds rate within the next twelve months. The July meeting minutes showed that there were quite a few members of the FOMC that said they may raise interest rates sooner than anticipated if the economic data showed movement toward the committee’s objectives more quickly than expected. “The front end is trying to reprice to the timing of the first Fed rate hike and is struggling to get a sense as to when that’s going to happen,” said Guy Haselmann, Interest-Rate Strategist at Bank of Nova Scotia in New York. Yellen emphasized that while the labor market seems to be improving there are still labor resources that are going underutilized. Economic data this month showed that the economy added over 200,000 in July, the sixth consecutive month of such increases. However, while the jobs market is showing some consistency, growth is still slow. After the release of the FOMC minutes, Bloomberg futures data showed that bond traders saw a 54% chance that the Fed would raise the federal funds rate by July 2015. This was an increase of 6% over the same measure on August 19, the day before the rates were released. Trader sentiment caused the 10-year note yield to rise briefly to 2.44% before trading around 2.41%. The five-year note yield rose two basis points to 1.65%. The 30-year bond yield declined one basis point to 3.18%. The 10-year Treasury note yield finished the week of 8/18 at 2.40% while the 30-year Treasury note yield finished the week at 3.16%. Interest: Rates Drop to Lowest Level in 2014 Freddie Mac released the results of its latest Primary Mortgage Market Survey on Thursday, August 21. The results show average fixed mortgage rates falling to their lowest levels during 2014. The 30-year fixed rate mortgage averaged 4.1% this week. This is down from last week when it averaged 4.12%. One year ago, the 30-year fixed rate mortgage averaged 4.58% This week, the 15-year fixed rate mortgage averaged 3.23%. This is down from last week when it averaged 3.24%. Last year at this time, the 15-year fixed rate mortgage averaged 3.6%. “Mortgage rates were down slightly this week, following the decline in 10-year Treasury yields,” said Frank Nothaft, Vice President and Chief Economist for Freddie Mac. “Meanwhile, housing starts in July jumped 15.7% to 1.093 million units after falling 4% a month earlier. Also, July’s consumer prices increased at a 0.1% seasonally adjusted pace, the slowest in five months.” The money market fund finished the week of 8/18 at 0.4%. The 1-year CD finished at 0.7%.___________________________________

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.
Church of the Nazarene Foundation
17001 Prairie Star Parkway, Suite 200
Lenexa, KS 66220 United States
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