On Our Own Together

Trust Funds for Families with Financially Dependent Loved Ones and Endowment Funds for Small Not-For-Profit and Charitable Organizations

This book is about methods to secure some financial comfort, or even independence, for (a) a financially dependent loved one or (b) a not-for-profit/charitable organization.

This book is an information guide -- not an instruction manual. The book does not, nor is it intended to offer legal, tax and financial advice. It is designed to guide readers into asking the appropriately qualified people the right questions that fit the specific situation.

This book is really two books in one. Why does the book combine trusts and endowments together? Why put families with a dependent loved one together with not-for-profit or charitable organizations?

The answer is their common ground. Although families with dependent loved ones and not-for-profit and charitable organizations have different operational needs and, obviously, different finances, both are involved in trying to secure some financial independence in the future. Both are looking for ways to avoid the monthly and annual contortions of making ends meet. Both have traditionally avoided long-term financial thinking because daily demands are too great. Both have exhaustion (physical and mental) as common denominators of trying to balance current needs with all the struggles and fears of long-term financial comfort. By giving common financial and legal information to both audiences, we hope to satisfy a common need with enough flexibility to meet your requirements.

Also, for a growing number of families, future security is based, in large part, upon their membership in a family group. Such groups usually consist of a limited number of families (less than 15) that have joined together in a common vision for emotional and physical support. Some of these groups have become incorporated and have turned their attention to securing future financial support for its membership. The trust fund information may help the individual families of such a group. The endowment information may help the whole group look at securing future support dollars.

252 pages, 5-1/2 x 8-1/2 inches, ISBN 1-55307-005-4, $20 ebook, $29.95 paperback

Table of Contents

What You Must Know First

How to Use This Book

Introduction

Part 1: General Information

Chapter 1: General Information

Part 2: Trusts Chapter 2: One Family's Story (The Beginning) Chapter 3: What are Trusts and Are They for Me?

Chapter 4: Present and Future Needs

Chapter 5: Beginning, Maintaining & Closing a Trust

Chapter 6: Non-Financial Considerations

Chapter 7: A Family's Story (The Sequel)

Part 3: Endowment Funds

Chapter 8: Deohaeko Support Network (The Beginning)

Chapter 9: What are Endowment Funds and Are They Right for Us?

Chapter 10: Present and Future Needs

Chapter 11: Beginning, Maintaining and Closing an Endowment Fund

Chapter 12: Non-Financial Considerations

Chapter 13: Deohaeko Support Network (The Sequel)

Part 4: Making It Work For You

Chapter 14: Creative Fund Raising

Appendices Part 1: For Both Trust and Endowment Funds

Appendix A: Comparing Trusts or Endowment Funds

Appendix B: Specific Wording for Donations to Charities Through a Will

Appendix C: Last Will and Testament and Settling the Estate 

Part 2: Trusts

Appendix D: Sample Discretionary Trust Created by a Last Will and Testament 

Appendix E: Life Planning Guide

Appendix F: A Sample of a Trust Funded Through Insurance Benefits 

The "Special Needs" Plan Description

Part 3: Endowments

Appendix G: Plan for Establishing an Endowment Fund

Appendix H: Sample Endowment Fund Policies

Appendix I: Sample Endowment Fund Agreement

Appendix J: Specific Sample Agreement between ACT and the Toronto Community Foundation 

Appendix K: Sample Donor Agreement to Contribute to an Endowment Fund 

Appendix L: Draft Agreement Among Deohaeko Families for the Creation, Maintenance and Dissolution of an Endowment Fund

Part 4: Resources

Organizations and Useful References/References

Glossary

Index