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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.

 

"This is God's Work"

Susan and Dan Wier's Story:


“The work Five Acres does is the noblest thing a person can do. I think it’s God’s work,” says Dan Wier who joined the board of directors in the early 1980s.  But Dan wanted a hands-on connection with the kids, so when he retired from the board he became a “special friend” to group home youngsters Tommy and James. Dan took them to ball games and the movies, but more importantly Dan modeled caring and responsible adulthood.

Dan knew that in those early days when youth emancipated from the system there was no formal program to take them to the next step. So when Tommy needed a car to get to Glendale Community College, Dan called a friend whose Jetta was for sale, persuaded him to sell it at a discount and then solicited six more friends to join him in donating the rest of the cost.

Soon Susan became involved with Five Acres through the Festival of Trees fund raiser and then joined the board of directors. Sharing Dan’s passion for youth leaving the system, Susan chaired the scholarship committee and was impressively successful in attracting funds for individual students. “I loved it because I didn’t expect to ask for money and be successful. But if you give people an easy and meaningful way to do it, they will.  It was just so easy.  And I believed in it!”.

Dan and Susan continue to support the scholarship program through their annual giving and have provided for its future in their estate plan.  As Susan puts it, “We believe wholeheartedly in Five Acres and its wonderful mission.  It’s where our heart is.”

For information about the scholarship fund or ways to remember Five Acres in your estate plan, please contact Cynthia Nickell at (626) 798-6793 Ext. 2250 or email her.