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Frank began a business when he was 28 years old. The Lord blessed him greatly and by the time he retired, that small business was worth fifteen million dollars.

Frank and his wife have one son. Frank wants their son to receive three million dollars as inheritance. Frank and his wife wish to give the rest to their church, to set up an endowment for Christian education at their Lutheran school. However, they never really got after this task. They have just talked about it a lot.

Now there is a buyer who is anxious to buy Frank’s business. Frank is upset with himself that he never made his ideas concrete with a specific plan.

Frank approached his congregation about gifting shares of his business to the congregation. Leaders rejected that notion because of fears of Unrelated Business Income Tax. Now his attorney is advising him just to sell the business and to make a cash gift to his church and school. However, his limitations for contributions are limited to sixty percent of his adjusted gross income. He will never be able to offset tax due with charitable gifts.

Frank realizes that making his wish become a concrete goal would have resulted in far less tax paid and for more resources for the educational endowment.

Might you be considering the sale of a business in the next couple of years? The LCMS Foundation can help think through a strategy together with your professional advisors.

Jason Jones, CGP, CDE, is Saint John’s Gift Planning Counselor. Jason works with individuals in our congregation who want to discover the lifetime plan that God has planted in their heart. He will help them to use this plan to Transfer the Blessings God has given them to their family and the ministries they love. This service comes to you at no cost as a member of Saint John’s. To schedule a free meeting with Jason or ask questions about this special opportunity, visit www.StJohnsFC.org/transfer-the-blessings, call (970) 988-0305 or email Jason.Jones@lfnd.org.