Managing To Meet Long-Term Goals
Ted and Marieanne Crossman have spent their lives serving others. They began as houseparents at a boarding school for missionary children in Belgian Congo (now the Democratic Republic of the Congo) and later moved to the JAARS Center in Waxhaw, North Carolina, where they served in property management and care for Wycliffe families.
In 1985 they purchased a tract of wooded land near their home with the idea of building houses for Wycliffe volunteers and missionaries. One of those developments was an apartment quadruplex that Ted built to provide them with an income stream and an outlet for his building and property management skills. The first time I met Ted, we walked around the property and he enthusiastically told me about its construction. Then I met Marieanne, who handles the bookwork for their enterprise.
We talked about their goals and objectives, including what they believed God was calling them to do with this income-producing asset. Over time and multiple conversations, it became apparent that they wanted to provide for their children and for the kingdom ministry in which they had invested their lives. We settled on a special type of trustknown as a charitable remainder unitrust (CRUT)which could best accomplish their goals while still providing them income for the rest of their lives. We also wrote the language in such a way that would allow for both current and future charitable giving.
It was not the value of the asset or the tax implications on the asset that determined the course of directionit was discerning their goals and objectives, finding the best way to meet them, and then working through the process of transferring the asset into the CRUT. It all came down to their life purpose: why they exist and what they ultimately want to accomplish. In the end they desire to bless their family and leave a lasting legacy!
How you plan your estate can assist you in fulfilling God's divine purpose for your lifeand can thereby bless your beneficiaries. Trusts allow you to create unique provisions to meet personal goals, like enabling the Crossmans to give both now and later. Our role at Wycliffe Foundation is to assist you in discerning God's purpose for your resources and discovering how to make the most of them for His kingdom.
If you would like to learn more about charitable gift and estate planning that will allow you to provide for yourself, your loved ones and Bible translation, please contact the Wycliffe Foundation at 877-493-3600 or email [email protected]. We are available to help you walk through every step.
The names and images shown here have been changed to respect donor privacy.
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