Part 65

Thomas M. Boles, 33°, G.C.
Director of Development
1761 East Woodcrest Avenue
La Habra, California 90631-3260
Tel . 562-691-4227; Fax 562-691-5327

Earl E. Ihle, Jr., 33°
Director of Major Gifts
1733 Sixteenth St., Washington, DC 20009–3103
Tel. 202-232-3579, Ext. 143, Fax 202-387-1843
Or call 800-486-3331, Ext. 143
council@srmason-sj.org

New Supreme Council programs offer many financial benefits to participants.

Since initiating our Comprehensive Estate and Financial Review Program in November 1999 and then the Scottish Rite Foundation Charitable Gift Annuity Program in January 2000, we have received many inquiries into these topics. As a result, we have decided to explore various estate and financial planning topics over the next several issues of the Journal. Please note, however, that the Scottish Rite Foundation, Southern Jurisdiction, U.S.A., Inc., in offering these programs is NOT providing legal advice or counsel to the Brethren. We urge you to consult your own estate planning professionals for legal advice or counsel. However, if you wish, we will be happy to provide the names of highly qualified estate planning professionals in our network. The articles in the "Where Do You Do Your Shopping?" column are written for informational purposes and to help you to think about your particular financial goals. Articles published in print media are necessarily simplified and may not be appropriate for your unique situation.

In the remainder of this article, Bradley T. Sneed, 32°, Senior Vice President, Investment Officer at First Union Securities, will set the stage for our discussion series on Estate and Financial Planning by discussing the need for proper planning and who should plan.

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Dear Brethren,

Our discussion should begin by defining Estate and Financial Planning. Estate Planning is the process of planning for the accumulation, conservation, and distribution of an estate in a manner that accomplishes one's personal tax and non-tax objectives. Statistically, 70% of Americans, Masons included, will die without a will, 83% of married couples use Joint Tenants With Rights of Survivorship as their primary estate-planning tool, and thousands of couples with more than $675,000 in net worth need Advanced Planning and have not done so. Why does it matter? Why have so many ignored their right to plan?

Combine the statistics with your situation and you start to get the picture that more assets are going to the IRS in the form of estate death taxes than may be going to the families of our Brethren. I certainly want all of my hard-earned dollars going to the heirs I choose and not to the IRS needlessly. I also want any "social capital" or "redistribution" of my wealth to end up in the hands of the Masonic Charities and organizations I have supported over the years, not determined by a federal program. Proper planning is critical for our Brethren, their families, and our Fraternity as a whole. Most of us have failed to plan because we have a reluctance to face and deal with our own death, combined with the false assumption that "I don't have enough to worry about", and the fact that it all seems so overwhelming. So who needs to plan? In a word—EVERYONE.

If you or your significant other are concerned about: providing for one another, children, grandchildren, parents; possible disability and long-term care; family business succession; the selection of guardians, trustees; making healthcare directives and living will decisions; asset preservation, growth and proper management; wish to avoid IRS estate taxation; your estate distribution; charitable giving; or are just curious about the effects your estate will experience, then you need to take the first step and begin the planning process. Several basic estate planning tools can assist you in fulfilling these needs. A Will, General Durable Power of Attorney, Medical Directive (or Medical Power of Attorney), and a Living Will are the documents that should be your starting point. Depending on your wishes, you may need advanced planning, especially if your net worth surpasses the $675,000 level.

Bradley T. Sneed, 32°
Senior Vice President, Investment Officer

The Scottish Rite Southern Jurisdiction has made it easy to begin the planning process. If you are interested in obtaining a free Comprehensive Estate and Financial Review, please contact Earl E. Ihle, Jr., 33°, at 1–800–486–3331 ext. 331, or mail the following coupon to Earl's attention. The next article in our discussion series will explore the basic planning "tools" we all need, no matter what our goals, and objectives are, or the size of our estate. Stay tuned!

Please Note: This information is distributed with the understanding that the authors are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expertise is required, the services of a competent professional should be sought. From: A Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers.
To learn more about the Scottish Rite Pooled Income Fund, click here. For a chart illustrating Scottish Rite Foundation, S.J., USA, Charitable Gift Annuity Rates–Single Life, please click here.

Ill. Thomas M. Boles, 33°, G.C. (left in photo) has worked extensively in fund-raising for children's programs throughout our Fraternity. For more information on planned giving, call Bro. Tom at 562–691–4227 (Fax 562–691–5327) or the Scottish Rite Foundation, Southern Jurisdiction, U.S.A., at 202–232–3579, ext. 143.

Ill. Earl E. Ihle, Jr., 33°, is our development team's Director of Major Gifts. He has been a member of the Fraternity for 25 years and served in 1978 as Master of Lafayette Lodge, No. 111, Baltimore, Maryland. He is also a member of Boumi Shrine Temple in Baltimore, the York Rite, and a dual member of the Scottish Rite Valleys of Baltimore and Washington, D.C. You can reach Bro. Ihle toll free at 1–800–486–3331, ext. 143.