It would if you were Ben Farmer. He knows all of his cows by name. And every morning and evening he herds them into the barn to be fed and milked. He’s been doing this for 53 years!

Ben has been thinking about his farm and what he will do with it when he gets too old to handle the chores. He could sell the property, equipment and livestock, but that seems even now to be an insurmountable task.

If he could just hand it over to someone else and receive a lifetime flow of income for himself and Mrs. Farmer. And if he could do it without incurring any tax on the transfer.

Then Ben learned about planned giving. It started with a brochure from the college in a nearby small town and later involved a phone call and visit from a planned giving officer.

Before long, Ben knew enough to explain the plan to his wife. And soon after that, he met with his tax advisor and started to make arrangements to create a charitable trust with the local college.

Here’s what he did: He and Mrs. Farmer established what is known as a charitable remainder unitrust. Into this trust they transferred the farm. The trustee (the college) sold the farm and livestock and used the cash to buy stocks and bonds that earn investment income. The Farmers now receive a portion of the trust earnings every quarter, and this will continue for the rest of their lives.

A dream come true! They didn’t have to deal with selling the farm nor did they have any capital gains tax to pay. And after they are both gone, whatever is left in the trust will go to the college to create scholarships for needy students.

Ben likes to think of it as giving the farm and keeping the income. Or, as he says, “We’re giving the cow and keeping the milk.”

If you would like to learn more about charitable remainder trusts, contact Lori Newhouse to request our free brochure. You can reach her at lnewhouse@fils.org or 262-377-6610..

Ozaukee

Habitat for Humanity 

 Lutheran Build

Park Street Project,

Port Washington

This year, ground is breaking on four Habitat for Humanity homes in Port Washington; one of which is planned to be a Lutheran Build. Lutheran churches in Ozaukee County are working together to raise $50,000 in cash or gifts in kind, as well as seeking volunteers to build.

Every year, Habitat for Humanity provides affordable, quality housing to hundreds of people world-wide, all due to generous support from loving people. Please prayerfully consider helping to make this a reality in Ozaukee County. Monetary gifts can be made in cash or by check. Checks should be made payable to Ozaukee Habitat for Humanity. (On the memo line please write “Lutheran Build.”) You can place your check in the marked drop box at church, or mail it directly to: 

          Ozaukee Habitat for Humanity,

131 N Webster Street,

Port Washington, WI 53074

For more information about gifts-in-kind or volunteer service, contact John Orth at 414-331-2620.