Why do I need a plan?
Failure to plan financially may result in accidental disinheritance for your loved ones. Accidental disinheritance occurs when you have no will or your will does not function properly. Because failure to plan means you risk harming those you love and subjecting your estate to needless tax, most people need to make a plan for the future.
There are several options for planning for your future. A will is a written document that permits you to state how you want your property or estate distributed, name an executor (also called a personal representative) to distribute your property, pay debts and taxes, and handle other business affairs to settle your estate. If you own property, you may wish to set up a living trust. It may be set up during life and directs where your assets go. Unlike a will, a trust will not subject your estate to probate.
Sometimes other considerations need to be made regarding your estate plan. It is important to appoint a guardian, so that if you die while your children are of minor age or have special needs, the guardian may take physical custody of and care for them.
If you become unable to manage your finances or property or later wish to have someone else manage your property, a durable power of attorney will give the person you select the legal authority to buy, sell, and manage your assets. Also, a durable power of attorney for healthcare allows you to select a person who can assist your doctors in making healthcare decisions on your behalf if you become unable to act on your own.
Produced by the Oklahoma United Methodist Foundation, A Christian’s Guide to Planning Your Will and Trust can help you with all of these options and more. Call the Foundation at 800-259-6863 to request your copy today.
Clergy Endowment Fund supports ministries
Annual grants were recently announced from the Foundation’s Clergy Endowment Fund. The fund’s grant-making committee awarded $5,000 this year.
These grants include: scholarships for seminary students at Saint Paul School of Theology at Oklahoma City University; funds to start a Project Transformation site at Mangum First United Methodist Church; and support for the Nothing But Nets campaign to prevent malaria, combining the grant award with money gifts collected at the Nothing But Nets Night in mid-April, which was co-sponsored by the Foundation and OKC Thunder basketball team.
In past years, the Clergy Endowment Fund has supported ministries including the Wesley Foundation building project at Langston University, Cookson Hills Center, the Clergy Covenant Crisis Fund, individual scholarships, and much more.
Contributing to this fund is a great way to honor your clergy or a clergy family. Gifts of all sizes come from people of all backgrounds.
Among donors have been family and friends of clergy members, church committees, and Sunday School classes.
Giving to the Clergy Endowment Fund honors and memorializes our current, retired, and deceased clergy. Visit our website to make your contribution online, or call the Foundation at 800-259-6863 to find out how you can honor the life of a clergyperson who has made a difference in your life.