Living Legacy: Mike Huckabee | TBN

Living Legacy: Mike Huckabee

Watch Living Legacy: Mike Huckabee
July 19, 2020
25:29

Go Behind The Scenes with Matt and Laurie Crouch and Mike Huckabee from Nashville; TN.

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Living Legacy: Mike Huckabee

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  • (theme music)
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  • - [Matt] Behind theScenes is taking over
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  • the Huckabee theater, welcometo Nashville Tennessee,
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  • and our guest Mike Huckabee.
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  • Well, you're not reallya guest here though,
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  • this is kind of theHuckabee theater.
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  • - Well, kind of but you know,I'll say welcome to my crib.
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  • (laughs)
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  • It's really the mostamazing television venue
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  • in the country.
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  • And I don't saythat quoting myself.
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  • But every time we havepeople who come here,
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  • whether it's majorcelebrities who have played
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  • on every TelevisionStage in the country,
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  • Tonight Show, even going backto the Ed Sullivan theater,
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  • David Letterman,whatever they've done,
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  • they come here andthey look around
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  • and they say, this isthe coolest theater,
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  • the coolest televisionstudio, production place,
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  • we have seen in the country.
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  • And it's a tribute really toTBN, and doing things right,
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  • being a good steward of theopportunity and making so
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  • that the production of whatis done on TBN equals anything
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  • on network television,to the glory of God.
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  • And I think that'sa great testimony.
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  • - We believe in what you do.
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  • You take complex subjectsthat are facing America,
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  • and you sometimesapply this thing called
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  • like conventional wisdomor maybe common sense
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  • to big problems andyou boil it down
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  • and you help us understandthings that are going on.
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  • So thank you for what youdo, we take it seriously.
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  • - Well, you're kind to say that.
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  • I try to make it sothat complicated things,
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  • I get it down to a levelwhere I can understand.
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  • I'm a simple guy and Igrew up in a simple way.
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  • But I do think sometimeswe leave things complicated
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  • for no particular purpose.
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  • I've always said this even about
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  • when a ministerpreaches a message,
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  • and if someone walksout of the church,
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  • and they say, Oh,what a great sermon.
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  • Now, it was way over myhead and he was too deep,
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  • I didn't understand it,
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  • but what a great sermon.
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  • I thinking no, it wasa terrible sermon.
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  • Because if it's over theheads of the audience,
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  • it missed the target.
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  • - [Woman] Yeah
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  • The target is the heart.
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  • So the goal alwaysis to communicate,
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  • so that whatever age,
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  • whatever demographic you'retalking to, they might not agree
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  • with what you say, theymight not like what you say,
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  • but they willunderstand what you say.
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  • That's the important part,whether it's a television show,
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  • or a sermon in a church.
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  • It's what we should allstrive in communication.
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  • - That's what we'restriving to do today
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  • in the subject of legacy giving.
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  • Estate planning is a term and so
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  • what does it meanto you, Governor,
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  • when I say August 24 2020,what does that mean to you?
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  • I go on Medicare.
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  • I turned 65.
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  • And, gosh, when I was alittle kid, if you were 65,
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  • you were an old geezer.
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  • - Yeah.
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  • - Now I don't think that anymore
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  • and I'm thinking why dothey make me do Medicare?
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  • I'm not retiringfor heaven's sakes.
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  • I hope to be doing thisshow for a long time.
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  • But it does make mestart realizing that I am
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  • in what I think we might sayare the golden years of life,
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  • which is good, butit's also a time
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  • to be thinking very seriouslyabout legacy in every way.
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  • What kind of legacy will Ileave for my grandchildren,
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  • I don't care about my kids.
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  • (woman laughs)
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  • They're done.
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  • But my grandkids, I got sixof them and I care deeply
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  • about the legacy leftbehind, including,
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  • what about theassets that my wife
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  • and I have workedhard to accumulate?
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  • What will we do with the things
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  • that God has entrusted us with?
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  • Will we be goodstewards of that?
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  • Because that'sreally the testament.
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  • It's never howmuch have you got?
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  • That's not the question.
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  • It's did you get ithonorably and legally,
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  • and what will you do with it?
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  • - Yeah.
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  • - God doesn't punishpeople for not having much
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  • and he doesn't punishpeople for having a lot.
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  • He does, however, expect uswhether it's a little or a lot
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  • to be faithful, goodstewards, managers,
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  • caretakers of whatis really is anyway.
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  • - We're going to break this down
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  • and hopefully makesense of a lot of this
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  • in kind of three kind ofways, wills and trusts
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  • and retirement plans and realestate kind of unique gifts,
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  • a piece of realestate for instance,
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  • or a stock or abond or something,
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  • and then a lifetimegift annuity.
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  • So we're gonna break itdown in three different kind
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  • of categories.
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  • We have informationthat we've prepared.
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  • There are threedifferent brochures thatcan be sent to you.
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  • And all the informationabout that is on the screen.
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  • Legacy giving, we help youin planning, in essence,
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  • the big, subject herewe call it legacy giving
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  • but it's estate planning iswhat we're talking about today.
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  • Before we get to that andstart breaking it down kind
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  • of piece by piece.
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  • You were a governor andthe the idea of having
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  • a will a trust a planin general, without one,
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  • the state becomesinvolved in those assets.
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  • How does that work?
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  • And how did youfigure as a governor,
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  • you must have known a littlebit of something about that.
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  • And how did how did thatever get to be a thing?
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  • - Matt, even though eachstate has specific laws
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  • that are applicableto that state,
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  • every state has laws thatdeal with what happens
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  • when you die.
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  • What happens if you have a will?
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  • What happens if you don't?
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  • The fact is, if youdon't have a will,
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  • if you have not made thepreparations before you die,
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  • it's too late to comeback and say, oh,
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  • by the way,- [Matt] by the way,
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  • - it's it's too late,and here's what happens.
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  • The state gets involved.
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  • The courts get involved.
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  • It's cumbersome, it's lengthy.
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  • It can be very divisive anddestructive to families.
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  • And ultimately, the governmentis gonna get a huge chunk
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  • of the resources that theindividual has worked for.
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  • Now, I don't knowmany people that say,
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  • when I die, I just can't wait
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  • to see the government getevery last penny from me.
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  • Because they took a bunchout of me all the time.
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  • And now they'regonna get it all.
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  • I've never met the personwho thought that that
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  • was good stewardship, especiallyif they were believers.
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  • - Yeah,
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  • Coz if they're believers,
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  • they wanna giveCaesar what is his,
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  • but they don't wannagive him any more
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  • than they gotta give him.
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  • But they wanna giveGod What's his too,
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  • and then they wanna do things
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  • that they maybe nevercould have done in life,
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  • whether it's tobless their church or
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  • to bless their alma mater,
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  • if it's a Christian university.
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  • Maybe it's to bless scholarshipsfor their grandchildren,
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  • and hey, here's an idea to blessTBN so that the global work
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  • of sharing the gospelthrough media will continue
  • 00:07:14.280 --> 00:07:17.517
  • through their givinglong after they're gone.
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  • The point being,
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  • if you think the governmentwill spend your money better
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  • than you will justdon't even think
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  • about getting a will, don'tdo anything about trust.
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  • Don't worry about giving,don't plan at all.
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  • Because when youdie, don't worry,
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  • the governmentwill plan for you.
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  • So I would tell people,
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  • don't wait tillthose last moments.
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  • But get this done now.
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  • Do it while you'rethinking rationally
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  • and thinking long termand thinking without
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  • a lot of emotion, becauseyou do your family
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  • a great disservice if youleave them with no direction.
  • 00:07:51.317 --> 00:07:55.922
  • - [Matt] I thinkjust as importantly,
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  • you said that,after you're gone,
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  • it's too late to come back.
  • 00:08:00.860 --> 00:08:02.728
  • - Yeah.
  • 00:08:02.728 --> 00:08:03.930
  • - But after you're gone,if you do come back,
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  • it's terrifying for everybody,
  • 00:08:05.731 --> 00:08:08.534
  • so why don't we just do it now?
  • 00:08:08.534 --> 00:08:11.537
  • - That's a really good point.
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  • Because if you're afuneral, and a guy sits up
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  • and says, Wait, wait,I forgot to do my will.
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  • You don't need one.
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  • Everybody's cleared out.
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  • - That'll clear the room.
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  • Okay, so no one willbe listening anyway,
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  • so you might as well do it now.
  • 00:08:23.316 --> 00:08:24.617
  • - Absolutely.
  • 00:08:24.617 --> 00:08:25.885
  • - Let's start withwills and trusts.
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  • I think our experience withwills and trusts kind of comes
  • 00:08:28.788 --> 00:08:33.793
  • from just, paying attention tomy dad's attitude towards it.
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  • He hired an attorneyin Southern California.
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  • We ended up hiring thatsame attorney and talking to
  • 00:08:46.372 --> 00:08:50.176
  • and it's a process of sittingdown and they're good at it.
  • 00:08:50.176 --> 00:08:54.614
  • If you're sitting down witha good estate planning,
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  • legacy-giving type attorney,
  • 00:08:59.085 --> 00:09:01.387
  • they have just a series ofquestions that you go through.
  • 00:09:01.387 --> 00:09:04.223
  • It's pretty simple to answer.
  • 00:09:04.223 --> 00:09:05.891
  • - Its hard, it's kind of hard.
  • 00:09:05.891 --> 00:09:08.594
  • - No you gotta sit there andthink it's not hard, it's easy.
  • 00:09:08.594 --> 00:09:11.764
  • - Think about your children and-
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  • - Which one I like more, youhave to start prioritizing
  • 00:09:13.599 --> 00:09:16.736
  • - Tell us which one isreally the favorite one.
  • 00:09:16.736 --> 00:09:20.272
  • - It's easy whenyou have two kids
  • 00:09:20.272 --> 00:09:21.841
  • and there's this term called50-50, it's kind of easy.
  • 00:09:21.841 --> 00:09:26.212
  • But anyway, so wedid that, my dad kind
  • 00:09:26.212 --> 00:09:30.116
  • of set the stage.
  • 00:09:30.116 --> 00:09:31.617
  • And my mom and dad had ain place perfectly legal,
  • 00:09:31.617 --> 00:09:36.355
  • perfectly organizedliving trust at the time
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  • of both my dad andthen my mom's death.
  • 00:09:45.164 --> 00:09:47.033
  • - They made it real simple,everything they had went to TBN.
  • 00:09:47.033 --> 00:09:50.302
  • - That makes it very simple.
  • 00:09:51.370 --> 00:09:53.539
  • - And so, but they did havea plan and all of that,
  • 00:09:53.539 --> 00:09:58.544
  • so we have a plan like that.
  • 00:09:59.612 --> 00:10:01.614
  • Ours probably needsto be updated.
  • 00:10:01.614 --> 00:10:04.950
  • Just barely being in our 50s,we're not really thinking
  • 00:10:06.352 --> 00:10:08.688
  • about that as much assomebody that's about
  • 00:10:08.688 --> 00:10:11.290
  • to go on Medicare.
  • 00:10:11.290 --> 00:10:12.258
  • - Yeah, thank you so much.
  • 00:10:12.258 --> 00:10:13.492
  • I'm hearing up I'm in theline for the load here.
  • 00:10:14.960 --> 00:10:17.296
  • You guys haven't evenentered the park.
  • 00:10:17.296 --> 00:10:19.765
  • So I understand.
  • 00:10:19.765 --> 00:10:21.233
  • - So wills and trusts.
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  • Do you Governor havea will and a trust?
  • 00:10:23.069 --> 00:10:25.471
  • - I do.
  • 00:10:25.471 --> 00:10:27.006
  • Yeah, we did that and likeyou have described this
  • 00:10:27.006 --> 00:10:30.209
  • is not something youwanna do by yourself?
  • 00:10:30.209 --> 00:10:32.011
  • Don't go online and get someinternet program and say,
  • 00:10:32.011 --> 00:10:35.214
  • Oh, I can do that.
  • 00:10:35.214 --> 00:10:36.716
  • Because every couple, everyfamily is a little different.
  • 00:10:36.716 --> 00:10:40.553
  • You wanna customizeit make it unique.
  • 00:10:40.553 --> 00:10:42.855
  • And it's best to sitdown with an attorney,
  • 00:10:42.855 --> 00:10:46.225
  • someone who doesthis for a living.
  • 00:10:46.225 --> 00:10:48.094
  • That's what they do.
  • 00:10:48.094 --> 00:10:48.928
  • They're good at it.
  • 00:10:48.928 --> 00:10:49.895
  • They do it all the time.
  • 00:10:49.895 --> 00:10:51.197
  • They know whichquestions to ask.
  • 00:10:51.197 --> 00:10:52.698
  • They know which ways tohelp you avoid things like
  • 00:10:52.698 --> 00:10:55.968
  • maybe an unnecessary estate tax.
  • 00:10:57.136 --> 00:11:00.439
  • They can help you makingsure that the best use
  • 00:11:00.439 --> 00:11:04.677
  • of your legacy isreally going to happen.
  • 00:11:04.677 --> 00:11:07.680
  • And yeah, my wife and I didit and we've updated it once
  • 00:11:07.680 --> 00:11:12.051
  • and I think we're probablydue to, update again.
  • 00:11:12.051 --> 00:11:16.088
  • Because things change, wehave a different number
  • 00:11:16.088 --> 00:11:18.124
  • of grandchildren than wedid when we first did this.
  • 00:11:18.124 --> 00:11:20.626
  • And we had grandchildren period,
  • 00:11:20.626 --> 00:11:22.361
  • which we didn't whenwe first did this.
  • 00:11:22.361 --> 00:11:24.163
  • But it needs to bedone well in advance of
  • 00:11:24.163 --> 00:11:27.199
  • when you thinkyou're gonna need it
  • 00:11:27.199 --> 00:11:29.535
  • because you don't knowwhen you're gonna need it.
  • 00:11:29.535 --> 00:11:31.937
  • - Okay, so that is part of theinformation that we'll send
  • 00:11:31.937 --> 00:11:36.375
  • to you all the informationis on the screen
  • 00:11:36.375 --> 00:11:38.410
  • and by the way, thereis a telephone number
  • 00:11:38.410 --> 00:11:42.047
  • that is a telephone number thatrings right into the office
  • 00:11:42.047 --> 00:11:47.052
  • that this is all handled.
  • 00:11:47.920 --> 00:11:49.155
  • We don't have a bigstaff that does this.
  • 00:11:49.155 --> 00:11:51.357
  • Honestly, it's a small littlegroup of people that are
  • 00:11:51.357 --> 00:11:55.027
  • in our building,
  • 00:11:55.027 --> 00:11:56.162
  • but they have a specificphone number and
  • 00:11:56.162 --> 00:11:58.230
  • if that telephonenumber gets overwhelmed,
  • 00:11:58.230 --> 00:12:01.500
  • it goes to a voice call
  • 00:12:01.500 --> 00:12:03.469
  • or a voicemail.
  • 00:12:03.469 --> 00:12:04.403
  • So just leave your voicemail
  • 00:12:04.403 --> 00:12:05.638
  • and they return thecall back to you.
  • 00:12:05.638 --> 00:12:07.039
  • It's pretty simple.
  • 00:12:07.039 --> 00:12:08.274
  • But get the informationlet's move down
  • 00:12:08.274 --> 00:12:10.476
  • to Part Number two, kind
  • 00:12:10.476 --> 00:12:12.678
  • of unique donations I would say,
  • 00:12:12.678 --> 00:12:15.147
  • stocks retirementplans, life insurance,
  • 00:12:15.147 --> 00:12:18.284
  • financial accounts, real estate.
  • 00:12:18.284 --> 00:12:20.619
  • Fun little unique situation,we got notified by an attorney.
  • 00:12:20.619 --> 00:12:25.624
  • that a sweet little ladyin Southern California
  • 00:12:29.128 --> 00:12:31.864
  • that watched TBN had left aportion of her estate to TBN.
  • 00:12:31.864 --> 00:12:36.869
  • And so one of ourattorneys had to go
  • 00:12:38.237 --> 00:12:40.372
  • to a court thing and there was,
  • 00:12:40.372 --> 00:12:42.842
  • several different beneficiariesand they were all there
  • 00:12:46.178 --> 00:12:49.114
  • and it turns out that it was one
  • 00:12:50.216 --> 00:12:52.318
  • of the most complex things.
  • 00:12:52.318 --> 00:12:54.820
  • She owned parcels of landthat had government leases.
  • 00:12:54.820 --> 00:12:59.491
  • She owned two 711 stores,
  • 00:12:59.491 --> 00:13:01.560
  • she owned threedifferent personal homes
  • 00:13:01.560 --> 00:13:03.963
  • and some cars and-
  • 00:13:03.963 --> 00:13:05.197
  • - I hope you gotslurpees for life.
  • 00:13:05.197 --> 00:13:06.732
  • - Yeah, that would be awesome.
  • 00:13:06.732 --> 00:13:08.534
  • - Yeah.
  • 00:13:08.534 --> 00:13:10.035
  • - And so and one of the,the more unique things is,
  • 00:13:10.035 --> 00:13:13.606
  • she had a collection of QVCitems, jewelry and dolls
  • 00:13:13.606 --> 00:13:18.611
  • and all this, but it wassuch an extensive collection
  • 00:13:24.483 --> 00:13:27.419
  • that it was a collection andso we had to find someone
  • 00:13:27.419 --> 00:13:30.623
  • to help
  • 00:13:30.623 --> 00:13:31.423
  • - To you know kind ofauction some of this,
  • 00:13:33.192 --> 00:13:35.494
  • and organize, and auction and
  • 00:13:35.494 --> 00:13:38.130
  • and what a unbelievablyunique surprise
  • 00:13:38.130 --> 00:13:43.102
  • for us to get notified and
  • 00:13:43.102 --> 00:13:46.272
  • and so we have attorneysthat get back to you.
  • 00:13:46.272 --> 00:13:50.009
  • We have a kind of agroup of attorneys,
  • 00:13:50.009 --> 00:13:53.512
  • one or a handful in each statethat we've worked with before
  • 00:13:53.512 --> 00:13:58.183
  • and so we can help you okay.
  • 00:13:58.183 --> 00:14:00.052
  • Point is we can help you andif you have a unique gift,
  • 00:14:00.052 --> 00:14:04.757
  • a stock or a bond, I canthink of over the 45 years
  • 00:14:04.757 --> 00:14:08.994
  • somebody gave us arace car one time.
  • 00:14:08.994 --> 00:14:11.497
  • I mean not street legal,but an actual race car
  • 00:14:11.497 --> 00:14:15.267
  • on a trailer you know.
  • 00:14:15.267 --> 00:14:16.869
  • So we had to findsomebody to buy it
  • 00:14:16.869 --> 00:14:19.505
  • that would want to buy itand you know I mean and so.
  • 00:14:19.505 --> 00:14:22.741
  • - So it doesn'tmatter what it is.
  • 00:14:22.741 --> 00:14:24.476
  • - Just unique stuff. Fromjewelry and pieces of jewelry
  • 00:14:24.476 --> 00:14:28.881
  • that we go and getyou know appraised
  • 00:14:28.881 --> 00:14:31.850
  • and all this kind of stuff,
  • 00:14:31.850 --> 00:14:33.385
  • but we have a group of peoplethat are pretty good at that.
  • 00:14:33.385 --> 00:14:35.587
  • So the idea of how you're goingto be a part of TBN's giving
  • 00:14:35.587 --> 00:14:40.592
  • or giving to TBN. If youhave something really unique
  • 00:14:41.994 --> 00:14:45.764
  • you know, somebody's given usan airplane one time you know.
  • 00:14:45.764 --> 00:14:48.901
  • We operated it for a while and
  • 00:14:50.169 --> 00:14:52.771
  • traded it in on anotherone at some point
  • 00:14:52.771 --> 00:14:55.474
  • and that kind of stuff. So we've
  • 00:14:55.474 --> 00:14:57.309
  • you know been the beneficiaryof some very unique things,
  • 00:14:58.744 --> 00:15:01.146
  • including QVC Jewelry. Ihave a collection of it.
  • 00:15:01.146 --> 00:15:05.351
  • So the next thing that Iwant to talk about is really
  • 00:15:05.351 --> 00:15:09.989
  • kind of a really uniquething that you know
  • 00:15:09.989 --> 00:15:14.994
  • is kind of organized bythe attorney general of
  • 00:15:16.228 --> 00:15:19.231
  • the state of California becauseof the way that all works.
  • 00:15:19.231 --> 00:15:22.801
  • You know life, time,gift annuities.
  • 00:15:23.969 --> 00:15:27.840
  • Governor you've helped usstart trying to explain this
  • 00:15:27.840 --> 00:15:31.944
  • and you are helping uswith a spot announcement
  • 00:15:31.944 --> 00:15:35.381
  • that you did for us.Unpack that for a minute
  • 00:15:35.381 --> 00:15:39.985
  • for our audience becauseit's a way to give a donation
  • 00:15:39.985 --> 00:15:43.322
  • but receive a lifetimeof interest payments back
  • 00:15:43.322 --> 00:15:48.027
  • at the first of the month.
  • 00:15:48.027 --> 00:15:49.428
  • - The simplest wayto describe it is
  • 00:15:49.428 --> 00:15:51.230
  • that it's an investmenttoll, but in this case
  • 00:15:51.230 --> 00:15:55.868
  • it's an investmenttoll that ultimately
  • 00:15:55.868 --> 00:15:57.469
  • will benefit the gospel byhelping TBN to continue.
  • 00:15:57.469 --> 00:16:02.174
  • Let's say I have an amount ofmoney, let's just pick $50.000
  • 00:16:02.174 --> 00:16:06.645
  • and I really don't needthe cash of it right now.
  • 00:16:06.645 --> 00:16:09.882
  • I need to invest it, Ineed it to work for me
  • 00:16:09.882 --> 00:16:12.284
  • rather than it justsit there on the shelf
  • 00:16:12.284 --> 00:16:14.053
  • or in the mattress.
  • 00:16:14.053 --> 00:16:16.321
  • Making it throughan annuity means
  • 00:16:16.321 --> 00:16:18.924
  • that I'm going to getincome from that annuity.
  • 00:16:18.924 --> 00:16:21.960
  • I give the $50.000,TBN manages it
  • 00:16:21.960 --> 00:16:24.630
  • and there is a fixed interestthat is going to come back.
  • 00:16:24.630 --> 00:16:28.167
  • Now in an annuityit's almost always
  • 00:16:28.167 --> 00:16:30.102
  • way better than a bank rate,way better than a CD rate.
  • 00:16:30.102 --> 00:16:33.305
  • Right now if people are livingoff their cash investments,
  • 00:16:33.305 --> 00:16:38.110
  • they're probablynot doing very well
  • 00:16:38.110 --> 00:16:39.812
  • because the interestrates are so low.
  • 00:16:39.812 --> 00:16:41.914
  • Great if you're buying a house,
  • 00:16:41.914 --> 00:16:43.115
  • horrible if you'retrying to live off it.
  • 00:16:43.115 --> 00:16:45.751
  • So this actually means thatthe person giving the annuity
  • 00:16:45.751 --> 00:16:48.620
  • can get a muchhigher rate of return
  • 00:16:48.620 --> 00:16:52.724
  • and get an ongoing monthlydividend from their annuity.
  • 00:16:52.724 --> 00:16:57.729
  • Which is beneficial to them,it's also beneficial to TBN.
  • 00:17:00.199 --> 00:17:05.204
  • It's frankly not foreverybody because
  • 00:17:06.371 --> 00:17:07.573
  • some people needtheir money now,
  • 00:17:07.573 --> 00:17:09.408
  • but some people actually justneed maybe some living money
  • 00:17:09.408 --> 00:17:12.978
  • they don't need theprinciple and therefore
  • 00:17:12.978 --> 00:17:15.547
  • this is a fantastictool for a lot of people
  • 00:17:15.547 --> 00:17:19.418
  • who maybe are lookingat their CD rates or
  • 00:17:19.418 --> 00:17:22.588
  • their savings account saying,
  • 00:17:22.588 --> 00:17:24.022
  • I might as well juststick it in a cookie jar.
  • 00:17:24.022 --> 00:17:27.192
  • There's a better way,the cookie jar ought to
  • 00:17:27.192 --> 00:17:28.927
  • give away to the annuity.
  • 00:17:28.927 --> 00:17:30.762
  • - And it is age dependent
  • 00:17:30.762 --> 00:17:33.031
  • - (Attorney General) yeah
  • 00:17:33.031 --> 00:17:34.266
  • - For a fifty yearold you get a lower
  • 00:17:34.266 --> 00:17:37.102
  • substantially higherthan at a bank.
  • 00:17:37.102 --> 00:17:39.171
  • - (Attorney General) Sure
  • 00:17:39.171 --> 00:17:40.639
  • - The further on upthe scale you go in age
  • 00:17:40.639 --> 00:17:44.276
  • the higher that return.
  • 00:17:44.276 --> 00:17:47.479
  • - It's one of the few timesthat being old is a benefit.
  • 00:17:47.479 --> 00:17:50.949
  • Usually it's a penalty, inthis case the older you are
  • 00:17:52.384 --> 00:17:55.320
  • the better the annuityactually performs for you
  • 00:17:55.320 --> 00:17:58.223
  • and understandably so.
  • 00:17:58.223 --> 00:17:59.992
  • It's still a great investmenttool for a lot of people.
  • 00:17:59.992 --> 00:18:04.396
  • - (Yellow Tie Male) We areproducing this program in 2020
  • 00:18:05.931 --> 00:18:10.936
  • and you know I think I looked at
  • 00:18:13.438 --> 00:18:17.910
  • my son has a littleinvestment account.
  • 00:18:17.910 --> 00:18:20.546
  • I think he showed me hewas making 0.25% interest,
  • 00:18:20.546 --> 00:18:25.551
  • a quarter of 1% okay.
  • 00:18:27.920 --> 00:18:29.788
  • Back historically governorback over your lifetime,
  • 00:18:33.692 --> 00:18:36.695
  • what was interest rates atthe high way back in the day?
  • 00:18:36.695 --> 00:18:41.700
  • - I can remember backin the 70s and early 80s
  • 00:18:42.868 --> 00:18:45.370
  • when a CD rate might be 14%.
  • 00:18:46.705 --> 00:18:48.874
  • - Oh come on
  • 00:18:48.874 --> 00:18:50.075
  • - But here's theother side of that,
  • 00:18:50.075 --> 00:18:51.677
  • a home loan might be 19%.
  • 00:18:51.677 --> 00:18:54.947
  • If you could get ahome loan for under 10,
  • 00:18:54.947 --> 00:18:57.849
  • a home loan you ranand bought a home
  • 00:18:57.849 --> 00:19:00.118
  • just cause youcouldn't find anything.
  • 00:19:00.118 --> 00:19:01.720
  • - Just because of that.
  • 00:19:01.720 --> 00:19:02.921
  • - Yeah it was just atotally different time.
  • 00:19:02.921 --> 00:19:05.490
  • People who had some cashcould put it in a CD
  • 00:19:05.490 --> 00:19:08.193
  • or some type of sortsof investment tools
  • 00:19:08.193 --> 00:19:11.096
  • and they were doing reallywell, but it's been a long time
  • 00:19:11.096 --> 00:19:13.899
  • and it's going tobe a long time again
  • 00:19:13.899 --> 00:19:15.867
  • because the fed seemsto be determined to
  • 00:19:15.867 --> 00:19:17.636
  • keep interest rates lowwhich is good for business,
  • 00:19:17.636 --> 00:19:19.905
  • and good for homeowners, andgood for a lot of things.
  • 00:19:19.905 --> 00:19:22.140
  • If you are that older investor,
  • 00:19:22.140 --> 00:19:25.110
  • if you're that person who'sliving on their savings
  • 00:19:25.110 --> 00:19:28.480
  • and you've worked yourlife for retirement.
  • 00:19:28.480 --> 00:19:30.749
  • It is a horrible timefor that to be your tool
  • 00:19:30.749 --> 00:19:33.285
  • of having an income,and that's why
  • 00:19:33.285 --> 00:19:36.722
  • I think a lot ofpeople are saying
  • 00:19:36.722 --> 00:19:38.590
  • you know this annuityidea at my age,
  • 00:19:38.590 --> 00:19:41.660
  • with the needs that I have.This is a much better vehicle
  • 00:19:41.660 --> 00:19:46.431
  • than it would beto put it in for a
  • 00:19:46.431 --> 00:19:48.600
  • quarter of apercent of interest.
  • 00:19:48.600 --> 00:19:51.236
  • - Okay so we startedoff this broadcast
  • 00:19:51.236 --> 00:19:53.805
  • by saying you were goodat taking complex subjects
  • 00:19:53.805 --> 00:19:57.609
  • and boiling themdown. In general
  • 00:19:57.609 --> 00:20:00.212
  • we've discussed the threecategories of information.
  • 00:20:00.212 --> 00:20:04.449
  • We have booklets that areavailable to come to you.
  • 00:20:04.449 --> 00:20:09.454
  • All of these booklets,there you go,
  • 00:20:11.223 --> 00:20:13.992
  • all of these booklets arepart of out legacy giving
  • 00:20:15.460 --> 00:20:19.431
  • and we mail themout free of charge.
  • 00:20:19.431 --> 00:20:22.067
  • Call the number and we'llget all of this back to you
  • 00:20:22.067 --> 00:20:27.072
  • when you contact us.
  • 00:20:27.806 --> 00:20:30.008
  • So just in the last you know
  • 00:20:30.008 --> 00:20:32.844
  • kind of little bit here of last
  • 00:20:32.844 --> 00:20:35.247
  • give you kind of the final word.
  • 00:20:35.247 --> 00:20:37.115
  • We're talking abouta state planning,
  • 00:20:37.115 --> 00:20:38.917
  • we're talking aboutlegacy giving.
  • 00:20:38.917 --> 00:20:40.652
  • Some people think it'sa very complex thing,
  • 00:20:40.652 --> 00:20:42.921
  • kind of simplifyit for us so that
  • 00:20:42.921 --> 00:20:45.691
  • folks would call usand let us help them.
  • 00:20:45.691 --> 00:20:48.193
  • - Billy Graham once saidnobody has ever seen a hearse
  • 00:20:48.193 --> 00:20:52.564
  • pulling a uhaul to the cemetery.
  • 00:20:52.564 --> 00:20:54.466
  • Which means thateverything we have
  • 00:20:54.466 --> 00:20:57.002
  • we're going toleave for someone.
  • 00:20:57.002 --> 00:20:59.171
  • We're going to leaveit to some end.
  • 00:20:59.171 --> 00:21:01.506
  • We may leave it to thegovernment if we make no plans
  • 00:21:01.506 --> 00:21:03.575
  • and I think for most of usthat would be a disaster.
  • 00:21:03.575 --> 00:21:06.144
  • We may leave it to familythat will fight over it
  • 00:21:06.144 --> 00:21:08.513
  • and we would do thema great disservice
  • 00:21:08.513 --> 00:21:10.482
  • if they're not prepared andthey are not fully versed
  • 00:21:10.482 --> 00:21:13.585
  • on what the plan is. Parentsneed to make these plans
  • 00:21:13.585 --> 00:21:17.222
  • and not leave it up toa family to fight over.
  • 00:21:17.222 --> 00:21:22.227
  • It's a horrible legacyto leave behind.
  • 00:21:23.328 --> 00:21:25.464
  • The reason you sit with anattorney and you make plans,
  • 00:21:25.464 --> 00:21:28.433
  • weather it's for a trust,a will, an annuity,
  • 00:21:28.433 --> 00:21:31.770
  • or a one time charitable gift
  • 00:21:31.770 --> 00:21:34.573
  • through a stock, a bond,a piece of property,
  • 00:21:34.573 --> 00:21:36.975
  • is because you're reallysaying to your family
  • 00:21:36.975 --> 00:21:40.312
  • I love you enough, butI'm not gonna leave a mess
  • 00:21:40.312 --> 00:21:42.614
  • for you to clean up. I'mgoing to take care of things
  • 00:21:42.614 --> 00:21:45.784
  • and by doing so you're doingyour family a big favor,
  • 00:21:45.784 --> 00:21:49.788
  • you're saving an enormousamount of the resources
  • 00:21:49.788 --> 00:21:52.991
  • that you really worked hard for.
  • 00:21:52.991 --> 00:21:55.327
  • You worked hard, you didn'thave those things because
  • 00:21:55.327 --> 00:21:59.064
  • they just showedup in the mailbox
  • 00:21:59.064 --> 00:22:02.534
  • and you want themto do good work.
  • 00:22:02.534 --> 00:22:05.570
  • So if you are a believer
  • 00:22:05.570 --> 00:22:07.305
  • and you want them todo good eternal work,
  • 00:22:07.305 --> 00:22:09.975
  • then you want to makesure that it goes to God
  • 00:22:09.975 --> 00:22:13.211
  • and not to the government.
  • 00:22:13.211 --> 00:22:14.713
  • That's why you make plans,
  • 00:22:14.713 --> 00:22:15.947
  • which you make plansthat make sense to you
  • 00:22:15.947 --> 00:22:18.049
  • that are personalized foryour interest and loves.
  • 00:22:18.049 --> 00:22:20.919
  • But you know we'vebeen talking about
  • 00:22:20.919 --> 00:22:22.821
  • if you give let's say aportion of that giving
  • 00:22:22.821 --> 00:22:27.125
  • and it goes to anentity that is a
  • 00:22:27.125 --> 00:22:29.361
  • non-profitorganization like TBN.
  • 00:22:29.361 --> 00:22:31.763
  • You have the goodfeeling of knowing
  • 00:22:31.763 --> 00:22:34.299
  • that every single day,in every time zone
  • 00:22:34.299 --> 00:22:37.602
  • on the entire planet,think about this
  • 00:22:37.602 --> 00:22:41.173
  • every single time zone,every second of the day
  • 00:22:41.173 --> 00:22:44.543
  • the gospel is beingpreached in the language
  • 00:22:44.543 --> 00:22:46.645
  • of the people whoare hearing it.
  • 00:22:46.645 --> 00:22:49.147
  • You can't do thatin many places,
  • 00:22:49.147 --> 00:22:51.349
  • so as a believer that'sa great incentive to say
  • 00:22:51.349 --> 00:22:54.619
  • maybe I want my church tobe blessed by my giving,
  • 00:22:54.619 --> 00:22:59.624
  • I want my family to be blessed,
  • 00:23:00.492 --> 00:23:02.194
  • but I also want togive to something
  • 00:23:02.194 --> 00:23:03.762
  • that is global in nature andthat has universal impact.
  • 00:23:03.762 --> 00:23:08.400
  • TBN is a great vehicle for that.
  • 00:23:08.400 --> 00:23:11.036
  • - (Yellow Tie Male)Leave a legacy,
  • 00:23:11.036 --> 00:23:12.704
  • your legacy for eternity.
  • 00:23:12.704 --> 00:23:15.440
  • Final thoughts?
  • 00:23:16.374 --> 00:23:17.642
  • - I just love givingto the Lord because
  • 00:23:17.642 --> 00:23:19.845
  • you just don't know whathappens with your seed.
  • 00:23:19.845 --> 00:23:23.181
  • When you give thatseed is eternal.
  • 00:23:23.181 --> 00:23:25.417
  • God takes what you cangive and he multiplies it
  • 00:23:25.417 --> 00:23:29.054
  • and it changes, thatkind of seed changes life
  • 00:23:29.054 --> 00:23:32.624
  • around the world. I'malways feeling good if
  • 00:23:32.624 --> 00:23:37.295
  • I give him theoffering. Anything
  • 00:23:37.295 --> 00:23:39.231
  • because I know I havesome in good soil.
  • 00:23:39.231 --> 00:23:42.033
  • - My parents last act at Trinity
  • 00:23:42.033 --> 00:23:46.438
  • was the fact thatthey had planned
  • 00:23:46.438 --> 00:23:50.609
  • and that a home thatmy parents purchased in
  • 00:23:50.609 --> 00:23:54.779
  • Newport Beach, California.Southern California in the
  • 00:23:54.779 --> 00:23:59.050
  • late 60s. For $38.000after all those years
  • 00:23:59.050 --> 00:24:04.055
  • when my mom finally passedaway a few years ago,
  • 00:24:05.457 --> 00:24:06.858
  • that was their last acttogether was their last act
  • 00:24:08.493 --> 00:24:13.465
  • of their living trust,donating their home
  • 00:24:14.666 --> 00:24:18.603
  • that I grew up in. Thathome was donated to Trinity.
  • 00:24:20.038 --> 00:24:24.276
  • We sold it to a developerfor $1.5 million.
  • 00:24:24.276 --> 00:24:27.879
  • My parents last actwas donating their home
  • 00:24:29.047 --> 00:24:33.618
  • that had a crude andvalue over all those years
  • 00:24:33.618 --> 00:24:37.489
  • 40 something years, 50 years.
  • 00:24:37.489 --> 00:24:40.091
  • Sold that and that was mymom's and dad's last act
  • 00:24:42.193 --> 00:24:46.464
  • here in Trinity. We encourageyou to just call the number,
  • 00:24:46.464 --> 00:24:50.302
  • let us help you. Wehave access to people
  • 00:24:50.302 --> 00:24:53.438
  • that do this a lot. If itseems confusing it's not,
  • 00:24:53.438 --> 00:24:57.609
  • and they'll help you through it.
  • 00:24:57.609 --> 00:24:59.344
  • Governor thank you forhelping us break it down,
  • 00:24:59.344 --> 00:25:02.180
  • thank you for hosting us,and hop on your crib here.
  • 00:25:02.180 --> 00:25:06.117
  • - You know it's kind of yours so
  • 00:25:07.018 --> 00:25:08.587
  • anytime you feel likedropping in, come on by.
  • 00:25:08.587 --> 00:25:11.723
  • - When does your show air?
  • 00:25:12.624 --> 00:25:14.426
  • - Every Saturday, eightand eleven eastern
  • 00:25:14.426 --> 00:25:17.762
  • and on Sundays at nine eastern.
  • 00:25:17.762 --> 00:25:20.432
  • - We'll see you next time.
  • 00:25:20.865 --> 00:25:22.834
  • Bye-bye.
  • 00:25:22.834 --> 00:25:23.635
  • (Upbeat music)
  • 00:25:25.704 --> 00:25:27.839