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EPQ Test



What's Your EPQ (Estate Planning Quotient)?

 

1)    If you die without a will or living trust, who decides what happens to your money?

       a)  The U.S. government

       b)  Your state government

       c)  Your oldest relative

 

2)    A living trust can save estate taxes that a will cannot.

       a)  True

       b)  False

 

3)    Life insurance and retirement plans should be considered as part of your estate plan.

       a)  True

       b)  False

 

4)    Can Five Acres benefit from your good intentions if you die before making a will or living trust that includes Five Acres as a beneficiary?

       a)  Yes

       b)  No

 

For more information about planned giving, please contact Cynthia Nickell, at (626) 798-6793 or email her at: cnickell@5acres.org.  Results of the E.P.Q. test are:

 


 

Answers

 

1)    b.  State law determines who inherits through the law of intestacy.

 

2)    b.  False. Both a will and a living trust can save taxes.  A living trust also allows your estate to avoid probate, which can be costly. A living trust provides other benefits but not necessarily tax savings.

 

3)    a. True  These are ideal means for providing charitable gifts with significant tax savings.

 

4)    b.  No. That's why it's important to act on your intentions now.

 

I Don't See Myself Stopping

Leslie Lyons Story:


Leslie Lyons is the volunteer board member every nonprofit wishes were theirs.  She is generous with her time, her talent, her resources and especially her heart.  

Leslie became acquainted with Five Acres in 2001 when she was a board member at The Salvation Army and it honored Five Acres with the “Others” award.  Five Acres volunteers at the event recognized Leslie as a rising star and recruited her into the San Marino Area Auxiliary.  Leslie immediately joined the committee that produced our annual fund raiser, “A Night at the Academy,” and eventually co-chaired its successor, “Swingin’ on a Star.”  In 2005, she joined the Five Acres board of directors where she’s served on the finance, program, development and board affairs committees.

Early in her career Leslie joined the Junior Chamber of Commerce where she got hooked on helping at-risk children when she played Mrs. Claus delivering toys to local needy children.  She continues this personal connection with vulnerable youth through the San Marino Auxiliary’s Family Friends program for the teenagers living in our group homes as well as our scholarship recipients through support of the Nash Scholarship Fund.

“It’s all about the kids,” Leslie says.  “Five Acres is in the forefront.  You can feel good about giving your time and money here.  There are so many ways to be involved, and I feel appreciated.  The people are genuinely fun to be with.  I don’t see myself ever stopping!”

When it came time to put her estate plan together, Leslie freely admits that it was her attorney who suggested she include charitable contributions, especially given her involvement with The Salvation Army, Tournament of Roses and Five Acres.  “It’s so easy to do.  Why not leave something to what you’ve supported?”

For information about remembering Five Acres children and families in your estate planning, please contact Cynthia Nickell at (626) 798-6793 Ext. 2250 or email her.