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planned giving & trust se r vices Faith’s Fingerprint Annuity With a Guarantee Ever yone has his or her own financial fingerprint. GOD MADE US ALL UNIQUE IN OUR CHARACTER, LOOKS, PERSONALITIES —and even our finances. Therefore, what works for one person doesn’t necessarily work for the next. Everyone has his or her own financial fingerprint. And finding individual solutions for diverse clients is one of the reasons I love doing what I do. Faith 1 told me over the phone she wanted to change her will; it had been on her mind to do so for some time. Now that she turned threescore and fifteen, she thought it was time to attend to her estate planning issues. She had taken the logical first step and met with her children to discuss changes, but neither she nor they knew exactly what changes to make. Faith had heard about me through the Planned Giving department of the B.C. Conference. She knew an annuity could be an attractive investment vehicle for people her age because there is little or no tax on the income and annuities were safe. An annuity that paid an insurance policy did not make sense for her. As I explored Faith’s financial story, I learned that she wanted to give money to the church, and her children supported her wish. Faith wanted her children to get the family home when she passed away, but she had recently come into some money upon the sale of another family property, and this had given her some fresh ideas. She wanted to use this new money to give back to the church ministries that had helped her so much in life. It Is Written, in particular, had been an inspiration to her. What ended up being the best solution for Faith was an annuity with a 15-year guarantee period. At age 75, almost none of the annuity income would be taxed, and she was able to get the equivalent of 6.75 percent for life. 2 The 15-year guarantee meant that if she were to pass away in year 7, for example, there would still be eight years of annuity payments paid to It Is Written. A tax receipt would be given to Faith’s estate for this donation. Even though Faith lives on very little income, she is content. The extra income from the annuity will allow her to donate to her favourite causes. And, if Faith lives beyond age 90, 3 her annuity payments would continue to come to her; however, there wouldn’t be any annuity payments left to pass on to It is Written at that point. No doubt, It Is Written will still enjoy the benefit of Faith’s giving nature because she is able to continue giving while she is still alive. In 2 Corinthians 9:7, the Bible says, “God loves a cheerful giver” (NIV). Faith is certainly one of those. Since I started working with members of the Seventh-day Adventist Church, many cases have caused me to be humbled and amazed by the generosity and giving nature of its members. God doesn’t want us all to be poor, but He does ask that if we have wealth, to be content and generous. I know that His kingdom will be advanced here on earth as a result of the generosity and love of people like Faith. n Rick Wiegel is an investment advisor in Victoria, B.C. 1 While “Faith” is a fictional name, this case is real and one I worked on recently. The return is dependent on an individual’s gender and age. 3 Statistically, Seventh-day Adventists live longer than others because of their healthy lifestyles. 2 M N ove mber 2 015 13