The Barakel Foundation, Inc.

Your Will

Taking Steps For Those You Love
 
What About YOUR Will?
 
The Role of an Executor
 
Making an Everlasting Investment
 
Suggested Forms of Bequest
 
Will Information Worksheet

This information is of a general nature only. For specific legal advice and assistance, you should contact your own attorney.

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Taking Steps for Those You Love

"There was a time when Mom and Dad thought they would live forever ... and the truth is they've had a wonderful life, rich in God's most precious blessings. But now that they are retired, life's cycle becomes clear-the shadows are lengthening."

"Once my parents reached retirement age, they thought even more about what they could leave as a witness to their faith in Christ when they were gone. Then they remembered hearing about the Barakel Foundtion, Inc. (Barakel) charitable giving program."

"Mom and Dad learned that they could leave a lasting testimony of their Christian faith through their Will by designating that a portion of their assets go to Barakel. And that's exactly what they did. It was very simple. They just told their lawyer what they wanted, and he made the necessary changes to their existing Will."

"My parents impressed upon us, too, the importance of including the Lord in all aspects of our lives, from birth to death. They shared with us about the Barakel Foundation, Inc. charitable giving program, and we learned how to provide for our minor children in case something unexpected should happen to us."

"Now it's all set-my parents have found satisfaction in being able to make a lasting witness of their faith in Christ by providing for the work of this ministry in their Will; we, too, have found satisfaction in knowing that our estate will help provide for the work of Barakel and that our Will gives directions for the care of our children while they are young. It gives us all remarkable peace of mind."

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What About YOUR Will?

Your Will is a continuation of your life and influence, reflecting those things which are closest to your heart. Thus, it is important that you provide for those who mean most to you.

Your Will expresses your wishes for the distribution of your possessions after you are gone. It ensures that what you desire to give to your loved ones and to Christian causes will be given.

Some people think their estate is too small to require a Will. Not so! Many people have a larger estate than they think when they take into consideration life insurance, pension benefits, and the family home.

  • Whom Should You Include in Your Will?

    Loved ones who still have needs. Your Will could help provide someone with a college education, housing, or nursing care.

    Possibly a favorite church and/or charity. Having your Will prepared is not only a privilege but also a means of being a good steward of those material possessions with which the Lord has entrusted you.

    If you have a deep concern for spreading the Gospel, consider organizations such as the Barakel Foundation, Inc.  In this way, you can make an investment in eternity.

  • Writing a Will Is Easy

    Some people put off writing a Will because they think it is complicated. Actually, the steps are quite simple.

    • First, contact an attorney today. Don't wait until tomorrow. Writing a Will is too important to delay.
    • Second, give your attorney directions on how you want your property divided. The Will Information Worksheet can help.
    • Your attorney will then prepare your Will. After your Will is written, read it to make sure it says exactly what you want it to say. Sign it and put it in a safe place. It will remain in effect until you die or make changes to it. Making changes to your Will is not complicated either, and it ensures that your wishes are in writing and that they are official.

     
    If you die without a valid Will, you forfeit the right to determine how your possessions will be distributed. Without a Will you let the state decide who will be the guardian of your minor children. The state also appoints an Executor to distribute your assets according to state law--probably not the way you would want them distributed.

  • When To Review Your Will

    Be sure your Will reflects new or changing family circumstances such as:

    • Marriage
    • Divorce
    • Death of Spouse or child
    • Birth or adoption of child
    • Birth of grandchild
    • Retirement
    • New business started
    • Moved to another state
    • Children have reached adulthood
    • Life insurance policy purchased or terminated
    • Substantial inheritance or gift received
    • Desire to make sizable charitable gifts
    • Real estate acquired, especially in a state other than your state of residence

     

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The Role of an Executor

One of the most important steps in preparing your Will is to name an Executor (Personal Representative)--the person who will manage and settle your estate.

Choosing an Executor is often the last point considered when a Will is being prepared. As a result, an unqualified person is often chosen to do the job.

There are certain key factors to consider before choosing your Executor. To help you understand better the importance of the role of an Executor, we have answered several questions people often ask.

  1. What Is an Executor?
     
  2. What Are the Qualifications of an Executor?
     
  3. Whom Should I Choose to Be My Executor?
     
  4. Are There Any Restrictions About Whom I May Choose as My Executor?
     
  5. How Can I Make My Executor's job Easier?


  1. What Is an Executor?

    An Executor is the person, bank, or trust company whom you have designated in your Will to manage and settle your estate according to your instructions.
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  2. What Are the Qualifications of an Executor?

    The Executor you choose should be a qualified individual, bank, or trust company who will follow the instructions in your Will, protect the interests of your beneficiaries, meet the requirements of tax and other laws, determine creditors' rights and the authenticity of claims, and exercise prudent investment judgment.
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  3. Whom Should I Choose to Be My Executor?

    Choosing an Executor is an important decision. You want to choose a person you have confidence in who is capable of carrying out the instructions in your Will. Because there are a number of duties an Executor may be required to do, it is a good idea to ask the person you have in mind whether he or she would be willing to accept these responsibilities.

    For more information on the duties of an Executor, click below.

    Duties of an Executor

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  4. Are There Any Restrictions About Whom I May Choose as My Executor?

    Usually not. However, some states specify that a nonresident may not serve as an Executor unless he or she is a close relative. You should consult your attorney regarding the laws of your state.

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  5. How Can I Make My Executor's Job Easier?

    Keep a list of all your property, debts, and records, and their location with your important papers where your Executor can find it. The list should be reviewed periodically and changed as necessary. Click here to go to What Your Executor Needs to Know About You.

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Making an Everlasting Investment

We encourage you to include the Barakel Foundation, Inc. in your Will. By doing so you are making an investment in reaching more people with the Gospel of Jesus Christ. Through your gifts, our ministries continue.

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Suggested Forms of Bequest

A gift to Barakel through your Will can be made in one of the following forms (these are suggestions only; the actual form of bequest should be determined in consultation with your attorney):

  1. A specific amount: "The sum of_____________ dollars ($_______ )"
  2. A specific asset: "Securities (or other property) described as follows: __________________________________________."
  3. A percentage of your estate: " ________ percent of my estate."
  4. The remainder of your estate: "All the rest, residue, and remainder of my estate . . ."

The following name and address should be used to properly identify BARAKEL:

The Barakel Foundation, Inc.
1092 Meadow Drive
Orange Park, Florida 32065

Barakel  is a nonprofit corporation and is qualified for tax exemption under Section 501 (c) (3) of the Internal Revenue Code of 1986. Barakel's tax identification number is 59-3580000.

(The purpose of this section is to provide information of a general nature only. For specific legal advice and assistance, you should contact your attorney.)

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If you have any questions or would like to know more, please contact us at:

The Barakel Foundation, Inc.
1092 Meadow Drive
Orange Park, Florida 32065

email:  info@barakel.com
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