A Legacy Gift 20 Years in the Making
Eddie and Robert Verhelst, brothers from South Dakota, are third-generation farmers, working the land passed down through their parents and grandparents. Out of gratitude for the Lord’s blessings, they wished to set up planned gifts to support Christ’s gospel work. “We wanted to do something to share back our wealth,” says Eddie. “God has been so good to us.”
In the early 2000s, Eddie and Robert met with WELS Christian giving counselor Ken Dierks, who introduced them to charitable remainder trusts. After Ken retired, Christian giving counselor (CGC) Scott Wagner nurtured the relationship with the brothers, providing them with gift illustrations from WELS Foundation showing how they could fund charitable remainder trusts using stock that they held.
In late 2022, the brothers worked with their legal and tax advisors and WELS Foundation to establish charitable remainder trusts. Once established, they transferred their stock to the trusts, with WELS Foundation serving as trustee.
The brothers are grateful for the guidance from CGC Scott Wagner and the services provided by WELS Foundation. They also appreciate the income tax deduction they received and the fact that they didn’t have to pay capital gains tax on their gift. In addition, Eddie and Robert will receive income payments from the trusts for their lives, which they plan to use as additional gifts to support the charities they love. When the Lord calls them home, the remainder in the trusts will support WELS ministries.
“If you have stock to donate, this is a wonderful way to do it,” Eddie says. “It’s a win for everybody and a win for God’s kingdom.”
This is one way to use a charitable remainder trust. Learn more about charitable remainder trusts by contacting your local WELS Christian giving counselor at 800-827-5482 or [email protected]