Grandma's Stock Keeps on Giving!
Sell or hold? That was the question. Shirley would hold onto her stock. The dividends on the energy stock, in particular, were good. She looked forward to them for many years until she felt she no longer needed the income. So Shirley started reinvesting the dividends to accumulate more shares.
As the stock fell in value, so also did the dividends. "Even so, that stock had been good to me," Shirley recalls.
So also has her life with husband, Alfred. While he ran a land surveyor business, Shirley spent 20 years in banking. They made a good team. Al was the visionary, and Shirley the detailer. With both now in retirement, Al is writing a book about his experiences with his land surveying business, and Shirley devotes more time to church activities, including LWML. Currently, she serves as treasurer of her zone in the LWML New England District.
"After I heard your presentation at our [LWML New England] District Convention," Shirley relates, "I thought it would be good to meet with you, Pat. I wanted to investigate our options for a charitable estate plan."
So Shirley was included on my first follow up visit to the New England states. We completed the in-depth survey LCMS Foundation provides called, "A Lifetime Plan for Giving." This is a guide that gives a more complete picture of family, property, estate plans and planners already in place. After we had another follow-up visit, it didn't take long for Shirley to zero in on her Grandmother's stock which had been such a blessing to her and Al for so many years.
A two-life gift annuity funded with Grandma's stock now provides lifetime income for Al and Shirley. Part of the income is tax free until life expectancy which makes their net effective payout rate even higher. After the first spouse passes away, the survivor will continue to get the income until he and she is called Home to be with the Lord. The remainder of the annuity is earmarked for the Lord's work through both the National LWML and the LWML New England District.
"The stock will continue to be a blessing to Al and me, just in a different form," Shirley analyzes. "And, eventually, it will go to help the Lord's work through LWML. What better gift to return back to the Lord?"
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