Docstoc

OPMH Planned Giving Script

Document Sample
OPMH Planned Giving Script Powered By Docstoc
					Our Legacy, Our Vision –

    A Real Life Drama presented by the OPMH Players


[Notes from 10/08 trial run: In next performance, start out with a
checklist of all the possible ways of giving – maybe a PowerPoint
slide and a handout. Then add IRAs and Insurance to script as two
additional teaching points. For each of the four vehicles,
emphasize how easy/inexpensive each is. E.g. if you already have a
will, it could take just 15 minutes to prepare a codicil and would
cost maybe $100.]



This skit is designed to provide the audience with a practical, hands-
on demonstration – through some staged play-acting -- of how to
create a living legacy gift, either through a will, by means of a
charitable gift annuity, or through an IRA or life insurance policy...
As to each form of gift, the actors will work through all the steps of
the process from start to finish. We will also pass out written
materials and put up PowerPoint slides that, in essence, will provide
the audience with a “roadmap” for doing this on their own. There
will be a question and answer session following the skit involving
the two actors who are, in real life, experts in planned giving.




       OVERVIEW AND SYNOPSIS OF THE DRAMA

                  The OPMH Players present

                Our Legacy, Our Vision --
                  Planned Giving in Six Acts
                      A Real Life Drama

Starring: Rocky Laha, as an inspiring neighborhood pastor
          Rachel Burke, as a charming and enterprising wills
            and estates attorney
         Doug Fever, as a clueless client
         Karl Mattison, as the fearless financial planner
         Jan Jones, as the financial babe in the woods
          Bill Phillippe, as the inspiring pastor of the future


Act 1: The Sermon defining the Vision:

         “Our Legacy, Our Vision”

              Pastor Laha

              Setting: OPMH, a cold Sunday in early 2009. The
Pastor muses to himself about the beautiful church that has been
passed on to us by earlier generations, the recent gift of the Elliot
House, the organ, etc. -- and expresses the hope that present and
future generations of Meeting House members will be equally
generous. He then exclaims – “What a great idea for a Sermon! I
could call the sermon “Our Legacy, Our Vision. I would start it out
by quoting that great piece of scripture from [cite scripture; read the
relevant verse]. Then my sermon could stress [go on to paraphrase
the sermon] “ Then end up by saying: “I’ll bet a sermon like that
would even get good old Clueless to leave something to the Church!”

Act 2: Overview of Planned Giving Mechanisms

         Setting: The office of Fearless Financial Advisor Mattison.
Laura Lawyer has dropped by for a cup of coffee and a conversation
about her checklist of planned giving mechanisms. The checklist
will be on the screen behind them, and the audience will have a
handout as well. Dialog will provide a quick overview of the
principal mechanisms, including those which will be covered in
more detail in the Acts to follow.

Act 3: The Will

         Setting: The law office of Laura Lawyer. Clueless client
Feavor, having been moved by Pastor Laha’s Sunday Sermon, is
seeking legal advice on how to leave a legacy gift by will to OPMH.

         Dialog will cover what is involved in creating a will for the
person who does not have one; amending an existing will to leave a
gift to OPMH; how to discuss and agree upon lawyers fees; the
interplay between the lawyer, a financial planner, and the family;
the time and paperwork involved. Sample correspondence, and
illustrations of various kinds of bequests to OPMH, will be created
and distributed. The Clueless Client will ask all of the questions,
obvious and embarrassing ones as well, in a somewhat humorous
way and the lawyer will answer in a straight forward way.
Act 4: Charitable Gift Annuities

     Setting: The office of Fearless Financial Advisor Mattison.
Financial Babe in the Woods Jones, having been moved by Pastor
Laha’s Sunday Sermon, is seeking advice on her estate planning
options, and particularly the charitable gift annuity possibility.
Dialog will cover all aspects of this subject, and documents will be
created and distributed. Again, the client will ask a lot of questions
in a humorous way, but the answers will be straight forward.

Act 5: Gifts from IRAs or Life Insurance Policies / Other giving
mechanisms

    Setting: The office of Fearless Financial Advisor Mattison.
Laura Lawyer has dropped by to discuss the estate planning
alternatives available to her clients in addition to wills, IRAs, and
insurance policies. They will have a brief dialog concerning the
pros and cons of a charitable gift annuity in the current economic
environment, and then discuss a few of the other giving mechanisms
that their clients might consider. They will then stay on stage for
the closing sermon, and then the Q and A session will start.

Act 6: The Sermon giving thanks for the legacy –

         “In Praise of Past Gracious Gifts”

           By Pastor Bill Phillippe

           Setting: OPMH, a sunny Spring Sunday in 2030. Pastor
Phillippe preaches the Sunday sermon enumerating with specificity
all of the wonderful things that OPMH has accomplished over the
last 20 years as a consequence of the Legacy Gifts made by OPMH
members as part of the Legacy Giving Program which OPMH kicked
off in the cold winter of 2009.


Question and Answer session with the two experts.



Presentation Notes:

1. The objective of using this format is to present this information in
a non-intimidating manner, using humor to get some of the sensitive
questions posed and addressed. Also to provide audience with some
typical paperwork that shows how easy this is – again, in a non
pressure environment.
2. The script below is designed to ensure all steps in the process are
covered, and all of the relevant questions posed. (The pastors will
prepare their own sermons) Ad libs and spontaneous humor are
encouraged.

3. This performance will be repeated for other audiences as often as
appropriate – new players can be recruited when needed– old
scripts will be reused. This will give us an opportunity to showcase
some of the local lawyers on our lawyers list.

4. An actual Playbill will be generated to promote this event – mode
of distribution will depend on the audience. Put in pews on Sunday.
Include in Monthly newsletter. Post on website.

5. At the end of the “performance” the lawyer and financial planner
will take questions from the audience. And then they will stay in
mingle for one-on-one conversations.

6. Some of the key documents will be projected by PowerPoint.
Stage setting notes for each act could also be projected in future
performances. Other materials, including the cast of characters and
the bios of Rachel Burke and Karl Mattison, will be included in the
audience hand-out materials.




             Script for OPMH Planned Giving Drama


[Slide 1: Playbill – is on screen as the audience takes their seats.]


The Master of Ceremonies gives a brief introduction, and then
introduces the members of the cast. Calls attention to the bios of
Rachel Burke and Karl Mattison which have been provided as a
handout to the audience.


    Introduction of Cast
      a. Laura Lawyer …………………………..             Rachel Burke
      b. Clueless Client   ……………………….          Doug Feaver
      c. Freddie Financial Advisor …………        Karl Mattison
      d. Financial Babe in the Woods …….       Jan Jones
      e. Inspiring Pastor – present ………….      Rocky Laha
      f. Inspiring Pastor – future ……………       Bill Phillippe


    [No slide on screen]


Act 1 – Sermon – Our Legacy, Our vision – Rocky Laha
              Setting: OPMH, a cold Sunday in early 2009. The
Pastor muses to himself about the beautiful church that has been
passed on to us by earlier generations, the recent gift of the Elliot
House, the organ, etc. -- And expresses the hope that present and
future generations of Meeting House members will be equally
generous. He then exclaims – “What a great idea for a Sermon! I
could call the sermon “Our Legacy, Our Vision. I would start it out
by quoting that great piece of scripture from [cite scripture; read the
relevant verse]. Then my sermon could stress [go on to paraphrase
the sermon] “ Then end up by saying: “I’ll bet a sermon like that
would even get good old Clueless to leave something to the Church!”


Act 2: Overview of Planned Giving Mechanisms

[Slide 2: Planning for Planned Giving]

         Setting: The office of Fearless Financial Advisor Mattison.
Laura Lawyer has dropped by for a cup of coffee and a conversation
about her checklist of planned giving mechanisms. The checklist
will be on the screen behind them, and the audience will have a more
detailed handout as well. Dialog will provide a quick overview of the
principal mechanisms, including those which will be covered in
more detail in the Acts to follow.

Fearless is already seated at his desk, when Laura walks in with a
cup of Starbucks in her hand.

Lawyer: Good morning Fearless, thanks for letting drop by on my
way to work.
FA: It’s a great way to start the day, Laura, good to see you! What’s
on your mind?

Lawyer: I’ve got some clients coming in today -- evidently some big-
time local pastor gave them a “hell and brimstone” sermon the other
day, and now they can’t wait to update their wills and estate plans.
They sound to me like some “Type As” who are going to need a lot of
hand-holding, and I just want to make sure I’ve thought of
everything I should cover with them.

FA: I know the type! I’ve got some of those types coming in today
as well! So this will be useful for me too!

So here’s the checklist I use – would you like a copy? It’s free.

Lawyer: Thanks Fearless, I owe you one!

FA: Why don’t I just run though this checklist – and you can jump in
whenever you like. I’ll talk, you listen.

Lawyer: [Aside to audience, with an eye roll] What else is new!

FA: Review checklist – take about 5 or so minutes. For each one, be
sure and talk about how much it would cost to implement, how
much time it would take, and the kind of situation its best for.

Lawyer: [at end of review] – Thanks Fearless, you’re a pro! I better
get going – my clueless client is due in a few minutes.

[FA and Lawyer leave stage. Stage is reset to messy law office]

[no slide on screen]


Act 3 -- Where There’s a Will, There’s a Way


            Setting: The Law Office of Laura Lawyer.        Table with
two chairs – lamp on the table – a messy “inbox” full of papers.
Laura Lawyer enters stage, sits down at the table, starts writing
on a legal pad, then crumpling it up and throwing it on the floor,
and starting over again.
Enter: Clueless Client.


Clueless Client:   Ms. Lawyer – I’m Clueless Client, here for our
   10:00 appointment – I’m not too early am I?
Lawyer: Well, it is just 8:45, Mr. Client, but please come on in.
Client: Thank you, and please call me Clueless!
Lawyer: Thank you Clueless, I will.     And you can call me Ms.
   Lawyer.   Now, let’s see, you’re here about that nasty patrimony
   lawsuit, aren’t you?


[Slide 3: Letter of Inquiry to Lawyer about fees, etc]


Client: No, I’m here about my will!
Lawyer: Of course you are – why don’t you remind me what you
   have in mind.
Client: I will – but first, can we go over just how all this will work -
- what are your fees, how much time will this whole process take,
and can you give me a ballpark estimate of what this is going to
cost me.


[Slide 4: Lawyer’s Engagement Letter on screen]


Lawyer: I would be pleased to do so.     These details are spelled out
in full in this Engagement Letter which I have drafted for you to
review and – assuming it meets with your approval – to sign.
But let me summarize our engagement -- [lawyer discusses fees,
process, time involved, various complexities that can affect the
time involved, and gives cost estimate; covers both creating a new
will, and amending an existing will.
Client: That all sounds fine – expensive, but I guess you get what
you pay for. But let me ask you something on a confidential basis
– does my wife have to know what I am putting in my will?         How
about my 9 children?
Lawyer: [Explains confidentiality.]
Client:   Just one last question about confidentiality – if I tell
Rocky that I have left something to the Meeting House in my will –
is there anyway he can check on the accuracy of the amount I tell
him?
Lawyer: No Clueless, not while you are living.      Do you have any
other questions? No? Good. Please sign here.         And you can leave
your check for my retainer with my secretary on your way out.


[no slide on screen]


Lawyer:     Ok, now that the preliminaries are out of the way – onto
business.    First, do you have a will already, or are we starting
from scratch?
Client:   Let’s start from scratch.   [Later the client will pull out a
form will that he had torn out of the book “Drafting Your Own
Will” and had previously executed – and we will deal with
amending an existing will]
Lawyer: [ Gives an overview of the major components of a will,
mentions briefly the tax issues and advantage of trusts for estates
over a certain size, living wills, guardians for children, some of the
significant choices to be made, etc., and the process the lawyer
will follow in gaining an understanding of the client’s desires, and
drafting the language to implement those desires].
Lawyer:     That’s an overview, but why don’t we start out by
focusing on those provisions of the will that you mentioned over
the phone and that you seem to attach some urgency to – you were
a bit frantic!
Client: Yes, exactly!   I need to deal with these issues right away!
Lawyer: Fine,    The first three decisions you need to make are 1)
the type of gift you want to give to the church, 2) the amount of
that gift, and 3) if this is of concern, how you want the gift to be
used.


[Slide 5: Sample will]


Let’s first discuss the types of gifts you might think about -- gifts
can be of real property, like your house or your condo at the beach;
personal property, like your antique Harley-Davidson Motorcycle


Rocky – from off the stage – “Praise the Lord!”


Lawyer [continuing] --or your grandmother’s silver tea service;
financial assets, like your IRA or your Exxon stock; or you can just
designate an amount of cash you wish to give to the church out of
your estate. One way you can get organizing in thinking about
what assets you have is to fill out the “Personal Record Book”
Checklist which I am sure you can obtain from your church staff.
 Ok? Any questions so far?
Next, let’s talk about the amount of the gift.    If you’re giving
something like the condo or the tea service, we don’t have to worry
about this.   If you’re giving something like Exxon stock, you can
either give a certain number of shares


Rocky – from off stage – in a deep voice – “think all the shares.”


Lawyer [continuing] --or you can give a certain dollar amount from
the proceeds of the shares.
And if you’re giving cash, you can give a dollar amount, or give the
balance in your savings account, or the CDs in your safe deposit
box.
Finally, there are a variety of other ways to designate your gift.
You can give 10% of your estate, for example, or can specify that
each of your children receive $1million each, and the remainder of
your estate goes to the church.     Or you can leave $100,000 a year
to your wife, and anything that’s left after she passes away goes to
the church.
Client: I told you to leave my wife out of this!
Lawyer: Ok, let’s turn to whether you want to designate how the
gift will be used.   Most churches, and I’m sure yours is no
exception, suggest that you not designate how the gift will be used,
and rely on the church to put it to the best possible use.   Other
churches have specific Funds into which they hope you will direct
your money. I know that the Old Presbyterian Meeting house has
established four funds for Legacy Giving which seem to cover the
bases very nicely.    Some of my clients, however, have something
very specific in mind – they want the church to add on a bell tower,
or buy a new organ, or establish a fund for the pastor to take a
sabbatical


Rocky – offstage –“Halleluiah!”


Lawyer [continuing] --    Most churches have policies regarding
these kinds of specific gifts, however, and you should check with
your church on this point.
But, once you have decided what you want to give, it is usually
very easy to draft some language expressing your intent – that
language can be as simple as –
       * I give my entire estate to OPMH, or
       * I give 10% of my estate to OPMH, or
       * I give $1 million each to my wife, and my children, and
            the balance to OPMH.
       * I give my house and motorcycle to OPMH
One other key point – at some point we will want to coordinate
with your tax lawyer or financial advisor, if you have one, to
ensure that your financial planning and estate planning are in
sync, and that all the appropriate tax planning has been worked
out.    You may also want to discuss your plans with some of your
family members.
OK, any questions at this point?
Client: Well, there is something I need to tell you -- I do already
have a will -- a buddy and I drafted our wills ourselves while we
were stationed at Fort Jackson -- and while I was thinking I
probably needed a new one, based on what you have told me today,
I think this one might still be pretty good [client pulls ratty will out
of pocket and hands it to lawyer – lawyer takes it between two
fingers and looks at it distastefully]
Lawyer: [Sarcastically] Thank you for sharing this, Clueless – and
where did you get your legal training that enabled you to draft this
document?
Client: [Enthusiastically] Actually, we downloaded the Quicken
WillMaker and it led us through all the steps.
Lawyer: [dryly] You don’t say …..
Lawyer:     Well, I suggest you authorize me to look this over and
make sure it gets the job done – sometimes these “cookie cutter”
form wills are too basic and leave some important things out, or
don’t take adequate account of the tax implications of your estate.
But let’s assume for now that this will is in good shape, so that all
we have to do is to amend it.
Lawyer: [describes process to amend will – builds on previous
discussion about ways to give].
Client: Ok, now can you give me a ballpark estimate of how long
this is going to take, and how much the legal fees might be?
Lawyer: Well, for a simple will, we can get that done in ___ weeks,
at a cost of about $ ____.   If it is just an amendment to an existing
will, cut those numbers [in half?]
Client: Thank you Ms. Lawyer, you have given me a lot to think
about!


[no slide on screen]




Act 4: The Charitable Gift Annuity – Having Your Cake
                   ….. and Eating It Too !


          Setting: Office of Freddie Financial Advisor.   Table with
two chairs.     While audience is watching, remove messy inbox full
of papers, and place one piece of paper on the desk. Turn down
the lamp a notch.      Freddie Financial Advisor is sitting at the desk
playing with a fortune telling ball, saying out loud – “Yes, Yes,
Maybe, No …..”


Enter: Financial Babe in the Woods


Client: Hello Freddie, I’m Financial Babe in the Woods, here for
our 4:00 appointment – I hope I’m not too late!
FA:   Well, it is 5:15, Financial Babe in the Woods, but please do
sit down!
Client:    Thank you, and please call me Babe.
FA: Please, call me Fred, or Freddie if you prefer!   How can I help
you?
Client: Suddenly last Sunday, I found myself moved to leave a gift
to my church – our Pastor preached just an amazing sermon about
the legacy we each should think about leaving.    But I’m rather
strapped for money right now, so I worry my options are limited.
FA: Actually, they are not as limited as you might think.    You can
always leave a gift through your will, but in addition there are
numerous other ways.    Let me tell you about Charitable Gift
Annuities -- this has become a very popular way to leave a gift.


[Slide 6: Planned Giving Proposal]


A Charitable Gift Annuity allows you to transfer cash or securities
immediately but still receive a guaranteed annuity income for life
while ensuring future support for your church. In addition to
receiving an immediate income tax deduction for a portion of your
gift, the income can start at any time you designate (e.g. upon
retirement), and can be paid to you, or to anyone else you
designate. Actual annuity rates depend upon a number of variables
including age.   While the rates a year ago ranged from 5% to 11%
or more, in the current market conditions they are unfortunately
much lower. At the Old Presbyterian Meeting House, the annuity is
actually issued by and administered on behalf of OPMH by the
Presbyterian Foundation. While I would be glad to advise you on
this, another alternative is for you to work with an OPMH planned
giving representative who can provide information to help you
develop an understanding of how these annuities work, give you
information on the Presbyterian Foundation and put you into
contact with a Foundation representative, and work directly with
you and your financial and/or legal advisor to tailor a gift annuity
to accomplish your objectives.
Client: I don’t need to hear any more – I’m persuaded that this is
perfect for me – what should we do next?
FA: [describe process – concluding with an agreement by FA that
he will send a draft Agreement to the Client.]
Client:   Thank you Fred, I knew I could count on you!


[no slide on screen]




Act 5: Gifts from IRAs and Life Insurance Policies / Other Giving
             Mechanisms.


          Setting: Office of Freddie Financial Advisor.    Table with
two chairs. Laura Lawyer has dropped by at the end of the day to
discuss the estate planning alternatives available to her clients in
addition to wills, IRAs, and insurance policies.


FA: Hi Laura, good to see you – but why the long face?


Lawyer: Hi Freddie – boy, you wouldn’t believe the day I’ve had –
one nut-case client after another! Talk about “Clueless!”


FA: Sorry to hear it – I have to tell you, I’m loving my day -- I just
spent some time with a real “Babe!”     But what brings you down to
my part of town?


Lawyer: I just wanted to do some brainstorming with you about
different ways two of my clients can make planned gifts. One of
them wants to leave a very substantial gift to the Old Presbyterian
Meeting House, but the other one is a tight as a tick and just wants to
make the kind of gift that would make Scrooge look generous! . I
know all about wills, and about charitable gift annuities, but what
else should be on my checklist?    And thanks for helping me out like
this!


[Slide 2: Planning for Planned Giving]


FA: No problema – always glad to be of service – especially when a
client referral might be involved!   Well, the first thing I would add
to your list are life insurance policies and tax-deferred retirement-
plan assets -- these are two of the simplest gifts your clients can
make to the Old Presbyterian Meeting House.         And these can be
used for small gifts as well as large ones.


Lawyer:   Sounds like just what I need.     What’s involved in making
one of these gifts?


FA: All your client has to do is to contact the administrator of his
or her retirement plan or insurance carrier and request a new
beneficiary-designation form.     Then the client can direct that the
Meeting House receive all or a portion of one of these assets simply
by adding the Old Presbyterian Meeting House to the form and
signing their name. And, if they later change their mind about the
gift, or about the amount of the gift, they can simply request a new
beneficiary-designation form.     It’s that easy!


Lawyer:   I think Clueless will like this a lot!    But will this cut his
9 kids out of the picture?


FA: No, not necessarily. If some of the assets in his retirement
plan are needed to provide for family and friends first, he could
name the Meeting House as a secondary or final beneficiary, and in
that case the church receives the policy proceeds only if the
primary beneficiaries are already deceased.


Or he can give some or all of the IRA assets to the Meeting House,
while giving other assets to his heirs, -- this approach can actually
save on taxes.     Unlike his heirs, the Meeting House does not pay
taxes on the IRA assets.


Lawyer:      You also mentioned using life insurance as a way of
giving a gift – tell me more.


FA: Life insurance also provides a very practical way of making a
significant gift to the Meeting House. Both new and existing
policies can be given to the church.    And it is possible to make a
charitable gift of life insurance while ensuring that the donor’s
family still receives the protection they may need.    And, depending
upon how the charitable gift is structured, it may provide the
donor with significant income-tax and/or estate-tax advantages as
well.


Lawyer:      Fearless, now you’ve got me worried – this sounds so
easy that I worry that my clients might not need me to help them
with this!    I need those billable hours!


FA: Well, you’re right to be concerned.      While they should
definitely get some advice from their lawyer and/or financial
advisor just to make sure that their overall estate plan
accomplishes their objectives and is tax-efficient, there is not a lot
of legal work involved in executing their kinds of gifts.
Lawyer:   Those are great ideas, Fearless – what else should I be
thinking about?


FA:   Well, there are actually many more giving mechanisms
available, particularly for someone with a larger estate and a more
complicated tax situation.      But let’s discuss that another day –
maybe over lunch at La Bergerie!


[Slide 7: Living Legacy Circle Invitation]




Act 6: In Praise of Gracious Gifts -- Bill Phillippe


           Setting: OPMH, a sunny spring Sunday in 2030.            Pastor
Phillippe preaches the Sunday sermon, enumerating all of the
wonderful things that OPMH has accomplished over the years as a
consequence of the Legacy Gifts made by OPMH members as part of
the Legacy Giving initiative which OPMH kicked off in the cold
winter of 2009.    He expresses special appreciation for those
members of the church who became Founding Members of the
Meeting House Living Legacy Circle – “I remember as if it were
yesterday the Circle’s first garden party – it was May 31, 2009 – a
beautiful late spring day!     On that occasion we celebrated the
new Rusty Connor Pipe Organ (“those sonorous tones still remind
me so much of Rusty”), and the Bob Jones Belfry (“they now say
there are bats up there – somehow that seems very appropriate.”).
He concludes with a piece of scripture.


   **************************************************************


[Slide 7 stays up during the Q & A session]
Master of Ceremonies introduces Question and Answer Session
involving Karl Mattison and Rachel Burke

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:13
posted:6/1/2010
language:English
pages:18