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Quote for today: Is the rich world aware of how four billion of the six billion live?If we were aware, we would want to help out, we'd want to get involved.- Bill Gates _________________________________________________________________________

ACGA BOARD ACTION ON ANNUITY RATES.....The Board of Directors of the American Council on Gift Annuities (ACGA), at a called meeting on December 29, 2008, approved a recommendation from the Rates Committee to reduce the expected return assumption from 5.75% to 5.25%. A new rate schedule is being developed reflecting this change and will be released no later than January 15, when the actuarial work is complete.

It is anticipated that the recommended rates will be lower by .4% to .7% at each age with a maximum rate of 9.5% at ages 90 and above. The new rates will qualify at all ages at a CFMR of 2.4% or above. The new rate recommendation will be effective on February 1, 2009. Note: When the new rates are posted they will be a link on this site. _________________________________________________________________________

NATIONAL COMMITTEE ON PLANNED GIVING (NCPG) becomes the Partnership for Philanthropic Planning (PPP) learn more at they have set lofty goals for the next 20 years of charitable estate and gift planning. _________________________________________________________________________

FIDELITY SITTING ON $4.7 BILLION.....The New York Times reported on 12/8/08 the Fidelity Charitable Gift Fund is the nations's largest such fund. The number of new accounts at Fidelity's donor-advised fund was growing the same as last year in spite of the market downturn. But contributions to existing accounts fell 40% in the first six months of 2008 compared to the previous year. Interestingly Fidelity reports donors in advised funds generally give away 20% to 30% of their assets value each year. This means individuals are truly parking their philanthropy at the fund and are capable of making major gifts later. Remember gift funds such as Fidelity and others can not be used for life income agreements since the donor has already received a deduction for the fair market value of their gift. No double dipping. _________________________________________________________________________

HOW OLD IS YOUR COUNTY?.....Where the retirees are should be a hot bed of planned gift activity. Where to Retire magazine recently listed the top counties for percentage of individuals over age 65. The winner LaPaz, AZ with 31.9% over age 65. Among the top 25 there were 9 counties in Florida, 4 in Texas and 3 in Michigan. _________________________________________________________________________

BEING HIGHLY EFFECTIVE......with your initial prospect interview means you follow the principle of 5/55. In a one-hour meeting, you're talking for a total of 5 minutes. The remaining 55 minutes are either your prospect speaking or silence. This is only possible if almost everything you say is a question, as the term interview implies.

You might want to record your conversation. Simply introduce a compact digital recorder by telling them the truth. It could sound something like, "In addition to asking you lots of questions, listening well, and taking good notes today we record these meetings so we can listen to them again to improve our ability to do the best possible job for you and all of our donors.”

If they really don't want you to record they will tell you. In an interview you want to capture the most relevant information. Veteran gift planners have a tendency to know much and when you know much you tend to talk too much. The goal is to find a plan that will fit the prospects needs and wishes. _________________________________________________________________________

Pinehurst office: PO Box 3335, 15 Pinewild Drive, Pinehurst, NC 28374
Phone: 910-295-6800

Northeast office: 20982 Bayside Avenue, Rock Hall, MD 21661 Phone: 410-639-7758

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