Don and Nyla Wieberdink Testimony

Don and Nyla Wieberdink’s testimony illustrates the power of leaving a legacy and the benefit of having a charitable remainder trust. They knew there would be significant taxes resulting from the sale of their farm machinery. That's when they thought of Barnabas Foundation and wanted to see if they could avoid some of that tax by using a charitable remainder trust. Don Wieberdink comments, "We have an obligation to be responsible with what God has given us. We've been blessed through the years, and we wanted to see that some of what was left when we were gone would be directed to kingdom causes we love." This testimony can be shared with your supporters.  (113 words) 

Wieberdink

Giving away the farm...

Don and Nyla Wieberdink decided it was time to retire from farming. They had looked at their family situation and their goals. They had analyzed the financial implications. They looked at what they wanted for their future and decided that 2001 was the year to retire.

One significant issue was the huge tax bill they would have to pay when they retired. They knew there would be significant taxes resulting from the sale of their farm machinery. That's when they thought of Barnabas Foundation and wanted to see if they could avoid some of that tax by using a Charitable Remainder Trust.

Don Wieberdink comments, "We have an obligation to be responsible with what God has given us. We've been blessed through the years and we wanted to see that some of what was left when we were gone, would be directed to kingdom causes we love."

The couple discovered that if they gave their machinery to the Trust, they could make their largest gift ever to their favorite kingdom causes, and still get a lifetime income from the Trust. Moreover, they could avoid the tax they would have paid if they sold the machinery at auction. In fact, after looking at the projections, they found they would probably have more income on an annual basis by giving it away than if they sold it, paid the taxes and invested the proceeds.

Barnabas Foundation worked with them to set up the Trust, make the gift and then have an auction. The auction date was set and Don and Nyla began preparing for it as though the property was still their own. The Lord blessed their hard work.

The weather was perfect on the day of the auction and the farm machinery sold well. The Wieberdinks watched as the machinery they had given away was sold, knowing that it would ultimately benefit kingdom causes and still provide them with a lifetime income.