The case of the missing Will?

Recently the strange case of a missing Will came to my attention. The story goes like this. A rector visits an elderly parishioner and is informed that she has a Will and has bequeathed half her estate to her parish. The other half was designated to a local hospital foundation. The rector expresses her appreciation to the lady and leaves.

Shortly afterwards, the lady who has no children develops symptoms of dementia and a care giver is required. About a year later, the lady passes and the priest is curious to find out the value of the bequest to her parish. Upon investigation, she learns that there is no will. At least, if there were one, it has disappeared.

What happens now?

The law in this province is quite clear about this. If a person dies without a will, then it is said that the estate is placed in intestacy. That means, according to the Public Legal Information Association of Newfoundland and Labrador:

In that case, their estate will be distributed according to the Newfoundland and Labrador Intestate Succession Act, which might be different from what they wanted had they made their own will.

This lady had no siblings and no children so what happens to the estate? Well, the Estate Succession Act makes this ruling:

Where an intestate dies leaving no spouse, issue, father, mother, brother or sister, the estate of the intestate shall go to the nephews and nieces of the intestate in equal shares and in no case shall representation be admitted.

And, I might add, there was no charitable gift provided for in this case.

Are there any lessons to be learned here? I asked my legal friend who suggested a number of ways that can prevent such occurrences. When your will is drawn up by a lawyer, he or she will generally suggest that the original Will stay with the law firm for safe keeping. Another would be to provide the executor or the charity with a copy of the will. This ensures that the executor and the charity are aware of the bequest and could make representation to the courts upon the person’s passing. Still another way would be complete A Personal Records Organizer put out by banks and financial organizations which details information about your estate and where your will is kept. This could be held by the Executor or a trusted friend.  

But who knows? Maybe there was no Will in the first place. However, according to my legal friend, this happens more often you think. He said the suggestions made in the previous paragraph are quite legitimate and would prevent fair bit of agony and confusion in the future.

As the late Canon Burt Cheeseman use to say at the end of a sermon, “There, that’s something to think about.”

Kevin Smith is a gift planning consultant with the Anglican Church of Canada. He can be contacted at (709) 739-5667 or by email: kevinsmith709@gmail.com.

Giving Can Change Your Life

Just think about this:

1. 95% of Canadian donors give because of the way it makes them feel

2. 84% say their giving is an expression of their hearts and souls

3. Four out of five Canadian donors say that their giving is an extension of their spiritual beliefs.

These observations were made recently by Fraser Green, a strategist with Good Works - an Ottawa company that has been conducting surveys of giving by Canadians in the last number of years.

When I read these statements, it brought to mind a book entitled “Give to Live” by Dr. Douglas Lawson, an ordained Methodist minister. The central thesis in his book is that giving is not just a minor influence on good health but the key to bodily and mental well being. He cites studies that show for all ages (but particularly among the elderly) one way to escape premature physical and emotional deterioration is by staying active in the service of others.

Some examples of the studies included the following:

† A ten year study of the physical health and social activities of 2700 men in Michigan found that those who did regular volunteer work had death rates two and one half times lower than those who didn’t.

† A life insurance company surveyed policy holders who lived to the age of 100 years or older. One of the questions was:”What is the most important thing you have learned in your long life?” The most frequent answer was “To love thy neighbour as thyself.”

† Two Harvard University doctors discovered that people who watched a documentary about Mother Theresa’s work with the dying showed an increase in immunoglobin - A , the body’s first line of defense against viral infection.

† A Georgia study determined that blood pressure levels were lower among residents who frequently attended church while a California study found that church members lived longer than those who did not belong to churches

Dr. Lawson suggests that “instead of the old slogan, “Give until it hurts,” it seems we should say “Give until you feel great.”

Another interesting book on the same subject is “Rambam’s Ladder” by Julie Salamon which constantly reminds us on every page that we are measured not by what we have, but by what we give.

A few thoughts to consider during this season of Lent!

Gift of Securities Helps Parish Campaign

Gift of Securities Helps Parish Campaign

There are many ways to make a planned gift to your church. One that has grown in significance in recent years is the gift of shares or securities. When you donate listed securities to your church, you get a tax receipt for the full market value of the gift and pay NO tax on the on the gain derived from gifting the securities. It is the most tax effective way to make a donation.

One such gift was received in the closing days of 2010. It was a gift of securities from a parishioner of St. Michaels and All Angels in St. John’s. You may or may not know that St. Michael’s is in the process of raising $400,000 as part of a capital campaign to build a new church building. The donor – let’s call him George – for he wants their gift to be anonymous - gave a number of securities totalling approximately $25,000. Why would he do that? Because, in his words, it’s a win-win situation. Here’s what he said:

Upon reviewing my various options for payment listed in the campaign material. I chose Publicly Traded Securities. This payment type for anyone who holds shares is a win / win situation. Revenue Canada some time ago changed the income tax act such that any capital gain accrued on shares is not subject to tax if they are transferred to a registered charitable organization. The donor wins (not having to pay tax) and the church wins (it will get the full value of the shares).

I pressed him further. But, why would he and his wife support the parish at this time?

The year 2010 was the 125^th anniversary of the Parish of St. Michael and All Angels. Through all those years there have been thousands of people who have devoted their time, talent and treasure to mould St. Michael’s to be the unique parish that it is today. With the direction of long term dedicated rectors, traditions were established that continue today and are the reason that many of our parishioners travel long distances to worship and find comfort in our midst doing God’s work. Having been a member of the parish for most of my life, I recognize the value of this ministry. When I think about the contribution of all the people that have come before me, I have a real sense of a responsibility that has been passed to me to carry on into the future.

The Rector, Father Sam Rose was obviously delighted.

"St. Michael's has been blessed with innovative leadership who have, since 1885, realized that our parish is a unique expression of the Catholic faith. Parishioners consider St. Michael & All Angels not just a church to attend but a family in which they belong. The relocation of our parish family to a new area is our response to God's call to mission. Our family have been generous in making this transition a reality. This planned gift is one way in which God's mission can be achieved."

What a wonderful legacy that George and his wife have left for their parish. Their act of generosity and stewardship is indeed remarkable.

I leave the final words to George:

We need to spread the word of our ministry to new areas and new people and this will happen with the relocation of our new church. I am committed to contribute in any way to make this happen. I have given this contribution at the start of the campaign as it may serve as an encouragement or incentive to others.

Kevin Smith is a gift planning Consultant for the Anglican Church of Canada. He can be contacted at ( 709) 739-5667 or by email at k_smith@nf.sympatico.ca.

A Legacy of Love

One of the tongue in cheek comments I sometimes make about the need for estate planning is that families always get along. Well, we all know that this isn’t always the case. A book I am currently reading examines both sides of that statement. Authors Barry M. Fish and Les Kotzer state in “Where There`s an Inheritance,” that death and inheritance unleash a vast range of emotions which embrace bitter mean-spiritededness on one end of the spectrum, and the deepest imaginable wellsprings of good will and love on the other.``

Here is one of the good ones from their book that I will share with you as the season of Christmas approaches.

Elizabeth died leaving six adult children surviving her. Her will named two of them as executors but all six children came to our office together, because their executor siblings insisted that all of them be there. They described how their mother was left a widow, shortly after the birth of the last child. Financially, life was a struggle for all of them, but they explained how Mom`s spirit allowed them to surmount the worst of times together.

With help from friends, Mom was able to get an extra job during the evenings but she taught her children to look for coupons in flyers and how to use them. She taught them how to be organized and the importance of looking out for one another. Everyone one of them remembered the times when their mother confessed that she was sorry that she could not give them everything that their schoolmates had. However, what she gave them was far more valuable than the fancy clothes worn by their friends.

The family somehow managed through the difficult years and four of the children were now successful professionals while the other two were not so fortunate and had never escaped from hard times.

What impressed the authors was the attitude of the Elizabeth`s children. The four successful ones said that all they cared about was that their less fortunate brother and sister be looked after. They instructed the lawyers to do the necessary paperwork in order to turn over the entire estate to the two siblings who needed it most. The brother and sister who had fallen on hard times had no idea this was coming. They had tears in their eyes and the lawyers didn`t know what to say. One of the other four children said it for all of them, `

`We know you would have done the same for us if the situation were reversed. Mom raised us to be there for each other and that will never change. Mom taught us the real meaning of love and the importance of family. That was her gift to all of us.

Without a doubt, Elizabeth would have been proud. What a legacy!

We Can Take nothing with Us

Suddenly, out in the hall, I heard an infant scream, followed by a quick “shhh!” presumably from its mother. The Rev heard it too.

”Now that child,”he said, “reminds me of something your sages taught. When a baby comes into the world, its hands are clenched, right? Like this?”

He made a fist.

“Why? Because a baby, not knowing any better, wants to grab everything, to say, “The whole world is mine.”

“But when an old person dies, how does he do so? With his hands open. Why? Because he has learned the lesson.”

What lesson, I asked.

He stretched open his empty hands.

“We can take nothing with us.”

This excerpt is from Have a Little Faith (Hyperion Books 2009) by Mitch Albom. You may remember this author from The Five People You Meet in Heaven and For One More Day - both bestsellers.

That little anecdote is a conversation between a rabbi and a writer he asked to do his eulogy – eight years before he died. The publisher says it is a book about a life’s purpose; about losing belief and finding it again; about the divine within us all. I commend the book for your reading.

But, it was that last line which stood out for me – “We take nothing with us.” It reminds me of the words of St. Francis whom I have quoted often before:

Remember that when you leave this earth,

you can take with you nothing that you have received –

only what you have given: a full heart enriched by honest

service, love, sacrifice and courage.

Perhaps this packs an important message for all of us. We should keep this in mind as you look at your estate plan (no matter how big or small) and reflect on the role of the Church in your lives and how much it needs your continuing support – long after you are gone. A planned gift is one way to deal with this dilemma and I encourage to consider this possibility. After all, you can’t take it with you! Please feel free to contact me for more information.

Kevin Smith is a gift planning consultant with the Anglican Church of Canada. He can be contacted at (709) 739-5667 or by email at k_smith@nf.sympatico.ca.