Dr. MIKE MURDOCK is in tremendousdemand as one of the most dynamicspeakers in America today. More than17,000 audiences in over 100 countrieshave attended his Schools of Wisdom andConferences. Hundreds of invitations cometo him from churches, colleges andbusiness corporations. He is a noted author

of over 250 books, including the best sellers, The LeadershipSecrets of Jesus, Secrets of the Richest Man Who EverLived and the creator of The Master 7 Mentorship Program.Thousands view his weekly television program, Wisdom Keyswith Mike Murdock. Many attend his Schools of Wisdom thathe hosts in major cities... and his church, The Wisdom Centerlocated at 4051 Denton Highway, Fort Worth, TX 76117.

WISDOMONLINE.COM

The Legacy Plan©Information

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“The wise look ahead to see what is coming, but foolsdeceive themselves.” Proverbs 14:8

Your Willingness To PlanGuarantees

Your Experience of Reward.–Mike Murdock

TWCLP-01

4051 Denton HwyFort Worth, TX 76117

1-817-759-BOOK1-817-759-26651-817-759-0300

You Will Love Our Website..!WISDOMONLINE.COM

©

INTRODUCTION TOESTATE PLANNING

Estate Planning involves not only decisions asto who should receive your property at death, but anunderstanding of how such property will pass atdeath.

This memorandum summarizes informationabout ownership of property, elementary Estate taxplanning, and principal decisions which need to bemade in the Estate Planning process.

This memorandum does not consist of, and doesnot provide, legal advice.

I. Ownership of PropertyA common misconception in Estate Planning is

that your LastWill and Testament will determine whowill receive all of your property at death.

A Last Will and Testament will control thedistribution of property...titled in your sole name,property made payable to your Estate, and propertyheld by you as a tenant in common.

However, your Last Will and Testament will haveno effect on determining who receives property held byyou in joint tenancy with the right of survivorship,held by a Trustee of a Trust or property made payableto a beneficiary other than your Estate (such as lifeinsurance proceeds).

Because of this, an important part of EstatePlanning is a review of the Ownership of Your Assets.The various types of ownership are discussed below inmore detail.

A. Last Will and Testament (“Probate

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Property”): Your Last Will and Testament will controlthe distribution of your real estate and personalproperty which is held in your sole name, assets madepayable to your Estate (such as life insuranceproceeds or other company benefits) and interestsheld by you as a tenant in common.

These properties are referred to as “probateproperty.” Estate Administration Proceedings mustbe conducted after your death...for this property tobe distributed to the persons entitled to it under theprovisions of your Last Will and Testament.

Estate Administration Proceedings are courtsupervised proceedings and can last from 6 months toseveral years, depending on the size of the Estate andits complexity.

B. Revocable Living Trust (“Non-probateProperty”): A Revocable Living Trust is similar to aLast Will and Testament in that it normally containsprovisions distributing your property at death.

It differs from a Last Will and Testament becausethe Revocable Living Trust is a lifetime document andcan hold title to your property during your life.

All property transferred to the Trustee of TheTrust during your lifetime will be distributed to thebeneficiaries under The Trust and are not subject toEstate Administration Proceedings. Therefore, thisproperty is referred to as “non-probate property.”

If you transfer all of your assets to The Trust...Designate the Trustee of The Trust as the

beneficiary of your life insurance policies and otherbenefits...then none of your assets will be subjectto probate.

Another aspect of the Revocable Living Trust isthat it can serve as a Management Vehicle in the

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event of your incapacity. If you have transferredproperty to The Trust prior to the incapacity, then theTrustee can continue to manage The Trust property.

If you have not transferred your property to TheTrust prior to the incapacity but have executed aDurable Power of Attorney, your Attorney-In-Fact cantransfer your assets to The Trust for managementpurposes.

Such transfers may also be made in the event of aterminal illness in order to avoid probate.

If you decide on a Revocable Living Trust as theprimary document of your Estate Plan, it isrecommended that you also prepare a “Pour-over”Will,which distributes all of your probate property, if any,to your Trust at death.

C. Joint Tenancy Property (“Non-probateProperty”): All real estate and personal property heldby you in joint tenancy with the right of survivorshipwill pass at death to the surviving joint tenantregardless of the provisions of your Last Will andTestament or Revocable Living Trust. Often marriedpersons will hold title to their home and bankaccounts in joint tenancy with the right ofsurvivorship. This property also is not subject toprobate and is referred to as “non-probate property.”

D. By Contract (“Non-probate Property”):The designated beneficiary of your life insurancepolicies, company benefits, individual retirementaccounts and other property which requiresdesignation of a beneficiary, will receive the benefitsat death. Again, this property is not subject to probateand is not controlled by the provisions of your LastWill and Testament or a Revocable Living Trust.

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II. Basics of Estate PlanningA. Who Should Inherit Your Property: The

basic decision in Estate Planning is who shouldinherit your property at your death.

You must consider whether you want to leave asum of money or certain items of tangible personalproperty to designated beneficiaries.

You need to decide who should receive...(1) therest of your tangible personal property (such ashousehold items and personal effects) and...(2) thebalance of your Estate (cash, bonds, real estate and allother assets). You should provide for alternatebeneficiaries in the event the primary beneficiary orbeneficiaries predecease you.

You should also consider whether you want thegift to be an outright gift or placed in a Trust formanagement purposes. Trusts are appropriate formarital gifts and gifts to the elderly or a disabledperson. Trusts also are used for gifts to minors, asdiscussed under Paragraph D, below. All of theseTrusts can be contained in a Last Will and Testamentor in a Revocable Living Trust.

B. What Documents Should CompriseYour Estate Plan: As discussed in Part I of thismemorandum, the basic documents in an Estate Planare either (i) a Last Will and Testament or (ii) thecombination of a Revocable Living Trust with a “Pour-over” Will.

The Revocable Living Trust has theadvantage of lifetime management of your assets inthe event of an incapacity and, if fully funded, theadvantage of avoiding probate at death. TheRevocable Living Trust also provides more privacysince, unlike a Last Will and Testament, it is not

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normally part of any public record.In addition to one of the above types of Estate

Plans, you should consider a Durable Power ofAttorney. A Durable Power of Attorney is one whichwill continue to be effective even in the event of alifetime disability. The person holding such a powercould manage the property of the disabled personduring such person’s lifetime. When a person has aRevocable Living Trust, the principle purpose of theDurable Power of Attorney is to provide a designatedperson the ability to put the disabled person’s assetsinto The Trust for more flexible asset managementand to shelter those assets from probate.

C. Whether Estate Tax Savings Trusts ForMarried Persons Are Appropriate: If you aremarried and your Combined Net Estates exceed$1,000,000, you should consider including an EstateTax Savings Trust in your Estate Plan. Todetermine your Combined Net Assets, you must addthe fair market value of all of your assets (bankaccounts, real estate, household items, companybenefits, joint tenancy property).

You must also include the proceeds of lifeinsurance policies payable at your death (the proceeds,not cash value). This will give you your gross Estate.Now, subtract all debts to arrive at your CombinedNet Estates.

If your Combined Net Estates exceed $1,000,000,you should probably include an Estate Tax SavingsTrust in your Estate. This means that your basicEstate Planning document (Last Will and Testamentor Revocable Living Trust) would provide for yourEstate to be divided into two parts at your death: aMarital Part and an Estate Tax Savings Part.

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The Estate Tax Savings Part would be a Trustfunded with the amount of assets you can give atdeath “Estate tax free” to persons other than yourspouse, which amount increases each year under taxlaw, but begins at approximately $1,250,000.

The beneficiaries of The Trust can be your spouseand your children. The savings in Estate taxes comesat the death of the surviving spouse because theassets in The Trust will not be part of the survivingspouse’s Estate for Estate tax purposes and willtherefore escape Estate taxes at the survivingspouse’s death.

The second part of your Estate, the marital part,will consist of the balance of your Estate (assets inexcess of $1,250,000). The marital part is not taxablefor Estate tax purposes because of an Estate taxmarital deduction. However, the marital part will bepart of the surviving spouse’s Estate for Estate taxpurposes at his or her death.

If you do not divide your Estate into two parts,but give all of your assets to your spouse, there wouldbe no Federal Estate Tax at the first death because ofthe marital deduction, but all of your assets will beincluded as part of the surviving spouse’s Estate forEstate tax purposes at his or her death (comparedwith all of your Estate less $1,250,000 in the firstexample).

There are reasons other than tax planning whichcause many people to create a Trust for some part ofthe Estate at the death of the first spouse. Forexample, a Trust can be used to help shelter propertyfrom creditors of the surviving spouse and frommarital claims in the event of remarriage of thesurviving spouse.

A Trust can also ensure property is available for

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children and grandchildren while providing lifetimesecurity for the surviving spouse.

D. Provisions For Minor Children:Children under 18 years old are minors under thelaws of most states and generally cannot receiveproperty outright. Therefore a Trust is normallycreated to manage the property you want to benefitthe minor at your death or at the death of thesurviving spouse if you are married.

If you have more than one child, there are TwoTypes of Trusts for minors for you to consider:

(i) the “Pot Trust”; and(ii) the “Separate Share” Trust.A “Pot Trust” is one Trust Fund which receives

all of the assets for the benefit of more than one child.The Trustee of The Trust is instructed to distributethe income and principal from the single fund to thechildren according to their need, and The Trustee hasno obligation to distribute equal amounts of income orprincipal to each child during The Trust Term.However, at the termination of The Trust the assetsare normally distributed equally among the children.

“Separate Share” Trusts differ from “PotTrusts” in that a separate Trust is created for eachchild and that child’s separate Trust is used solely forthat particular child. If one child has a greater needthan another child, The Trustee cannot use The Trustfunds set aside for the other children but is limited tothat particular child’s Trust funds.

E. Fiduciary Relations: In all Estate Plans,you must decide who should be the PersonalRepresentative of your Estate. This is the person,bank or trust company who manages your Estate

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during the Estate Administration Proceedings andhas the duty to see that all Income and Estate TaxReturns are properly filed.

In addition, if your Estate Plan includes one ormore Trusts, you must decide who should act asTrustee or Successor Trustee and if you have minorchildren, who should act as Guardian and AlternateGuardian.

Further, if your Estate Plan includes a DurablePower of Attorney, you must designate an Attorney-In-Fact.

III. Basic Decisions In Estate PlanningNumerous decisions must be made in the Estate

Planning Process.

A. Types of Documents To Use In YourEstate Plan:

1. Think and Decide...whether yourEstate Plan should consist of a Last Will andTestament or:

...A combination of a Revocable Living Trustwith a Pour-over Will.

2. Think and Decide...whether aDurable Power of Attorney would be appropriate aspart of your Estate Plan and who you would want tobe designated as the Attorney-In-Fact.

B. Ownership of Assets:1. Review the ownership of all of your

assets and beneficiary designations.2. For married persons, determine the

approximate size of your combined net estates. Forcombined net Estates in excess of $1,250,000, youshould consider the use of an Estate Tax Savings

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Trust in a Last Will and Testament or RevocableLiving Trust.

C. If You Have Minor Children, You ShouldConsider:

1. A Trust for the management of theassets for your children and whether you would prefera “Pot Trust” or “Separate Share” Trusts.

2. At what age or ages do you feel yourchildren should receive their share of your Estate freeof Trust?

3. Who...you would want to serve asTrustee and Successor Trustee of a Trust created foryour minor children.

4. Who...you would want to serve asGuardian and Alternate Guardian of your minorchildren.

D. For All Estate Planning Purposes, YouMust Consider:

1. Who you would want to serve asPrimary and Alternate Personal Representatives ofyour Will (the person, bank or trust company who willsee to the administration of your Estate).

2. Whether a Management Trust isappropriate for an adult Beneficiary.

3. If your Estate Plan includes aRevocable Living Trust or a Management Trust for anadult, who you would want to serve as Trustee andSuccessor Trustee of such Trust.

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� Special Reminder �These are the Primary Decisions which will

influence the type of Estate Plan you select. Again,this Basic Estate Planning Introduction is nosubstitute for a qualified attorney, and it does notprovide legal advice. Your Final Estate Plan will becomplete only after it has been approved by anattorney.

To facilitate any such planning, however, TheWisdom Center is enclosing suggested methods andwording for remembering The Church during yourlife, or at the time of your death, through properEstate Planning and Biblical Stewardship.

You and your Estate Planning Advisor may findthese provisions and suggestions to be helpful sinceyou have indicated a charitable interest in recognizingor remembering The Wisdom Center through yourEstate Plan.

NOTICE:Neither the author, the publisher, nor thisorganization is engaged in rendering legal,investment or tax advisory services. For advice andassistance on specific cases, the services of an attorneyor other professional advisor should be obtained. Thepurpose of this publication is to provide accurate andauthoritative information of a general character only.Watch for tax revisions. State laws govern Wills,Trusts, and charitable gifts made in a contractualagreement. Advice from legal counsel should besought when considering these types of gifts.

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SUGGESTED METHODS AND WORDING FOR

REMEMBERINGTHE WISDOM CENTERIN YOUR PERSONAL WILL

(Please Review This With Your Personal Lawyer)

SPECIFIC BEQUEST [Dollar Amount]:“I give, devise and bequeath $______________to THE WISDOM CENTER, 4051 Denton

Highway, Fort Worth, TX 76117, for its corporate usesand purposes.”

SPECIFIC BEQUEST [Percentage ofEstate]: “I give, devise, and bequeath _____%of my Estate to THE WISDOM CENTER,

4051 Denton Highway, Fort Worth, TX 76117, for itscorporate uses and purposes.”

REST, RESIDUE, AND REMAINDER OFESTATE: “All the rest, residue and remainderof my Estate, both real and personal,

whatever situated, I give, devise and bequest to THEWISDOM CENTER, 4051 Denton Highway, FortWorth, TX 76117, for its corporate uses and purposes.”

PERCENTAGE OF ESTATE WITHPROVISION FOR GIFT ANNUITY: “I give,devise and bequeath ____% of my Estate to

THE WISDOM CENTER, 4051 Denton Highway,

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Fort Worth, TX 76117, for its corporate uses andpurposes; provided, however, that if [name ofbeneficiary] survives me, THE WISDOM CENTERshall, as promptly as may be after my death, issue to[name of beneficiary] a Gift Annuity Agreement upon[his/her] life, in the form customarily issued by it.”

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� A Very Personal Word �The Wisdom Center Stewardship Planning.

The future growth and development of The WisdomCenter depends greatly upon the support receivedfrom individuals like you.

We are prepared to provide information andpersonal assistance, without obligation, to help youcarry out your objective most efficiently.

Please do not hesitate to call on us if we can be ofhelp to you.

Enclosed Documents. The following documentscontain a mechanism to permit Estate Planningindividuals to gather, assemble and maintainsummaries of documents, information, histories andother information that would be helpful to theindividual’s family, loved ones and/or heirs in theevent of a serious disability, terminal illness or death.

This type of information or documentationincludes summaries of an individual’s history, locationof documents, financial information, funeral andburial arrangements, projections of income,preferences relative to guardianships, raising minorchildren, managing family businesses, etc.

The purpose of and use for this type of documentis to facilitate Estate Planning when an individualbecomes disabled, terminally ill or dies. If thedocument is utilized properly, and kept current, itprovides a tremendous benefit to an individual’sfamily, loved ones and heirs at a time when it isparticularly difficult for these persons to achieve therequirements accomplished by the document.

The Valuable Instructions. The Instructionsinclude funeral/burial requests, insuranceinformation, bank account identification and safe

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deposit box locations, and summaries of or specificdescriptions of the circumstances of a person’s life,including business and financial activities, enablingand facilitating the requirements such person mayexpect of the family, loved ones or heirs in the event ofdisability or death.

Immediate Priority. The documents shouldbe completed as soon as possible, updated frequently,copied and distributed to appropriate persons.

A copy of the completed document also should beplaced with the Last Will and Testament, andmaintained additionally in any safe deposit boxmaintained by the individual Estate Planner. Thedocument also includes the names and identificationof individuals who may provide professional or otherservices relative to Estate Planning, includingattorneys, accountants, financial advisors, lifeinsurance agents, contact persons with state, local andfederal agencies, and other persons who havesignificant roles in the life of or other relationshipswith the individual completing the document.

Thank You..!Your Passion... To care for the souls of others is

noted and celebrated.Your Confidence... In this Ministry is a

Treasure and will be Protected at All cost.Your Seed...Will unlock an Uncommon Harvest

much sooner than you ever dreamed.Faithfully,

Dr. Mike Murdock

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You Will Love Our Website..! WisdomOnline.com

WisdomOnline.com

A Child Is A Gift From God. Children observe. Theyabsorb. They are like “containers.” In their ears wedeposit faith or fear, victory or defeat, motivation ordepression. We want them to feel and see the Love ofGod... through the meals we provide. Your Tithes andOfferings help feed 1,000 children in Mexico every day.

A Child Is A Gift From God. Children observe. Theyabsorb. They are like “containers.” In their ears wedeposit faith or fear, victory or defeat, motivation ordepression. We want them to feel and see the Love ofGod... through the meals we provide. Your Tithes andOfferings help feed 1,000 children in Mexico every day.

If you have ever felthopeless... you knowthe beauty and powerof the Force of Hope.

The Home of Hope in Johannesburg, South Africais more than a home for boys orphaned due to theAIDS epidemic in South Africa. More thanproviding shelter, food, clothing, education andmedical attention, The Home of Hope,underwritten by the ministry of Dr. Mike Murdock,is a Lighthouse of Hope... a safe harbor of loveand healing... because of you.

The Home of Hope in Johannesburg, South Africais more than a home for boys orphaned due to theAIDS epidemic in South Africa. More thanproviding shelter, food, clothing, education andmedical attention, The Home of Hope,underwritten by the ministry of Dr. Mike Murdock,is a Lighthouse of Hope... a safe harbor of loveand healing... because of you.

SCHOLARSHIPFUNDFor Christian Education

Thousands who come through TheWisdom Center need intensive training.Christian Education is one of ourgreatest challenges. That is why we haveestablished the Willie MurdockScholarship Fund For Christian Educationin honor of my Mother.

Your Seed toward this ScholarshipFund will enable a Young Timothy(minister) to complete their Bible SchoolTraining. Thank you for yourpartnership...remember, What You MakeHappen For Others, God Will Make HappenFor You.

A Miracle Is In Your Future..!

TheWisdom Center Ministry DistributesFood EveryWeek To Families In The

Community LivingWith TheHarsh Reality of Hunger.

For More Information Call 1-817-759-0300 Ext. 1445

WisdomOnline.com1-817-759-BOOK1-817-759-0300

THE WISDOM CENTER4051 Denton Highway • Fort Worth, TX 76117

You Will Love Our Website..!

Dr. MIKE MURDOCK is in tremendousdemand as one of the most dynamicspeakers in America today. More than17,000 audiences in over 100 countrieshave attended his Schools of Wisdom andConferences. Hundreds of invitations cometo him from churches, colleges andbusiness corporations. He is a noted author

of over 250 books, including the best sellers, The LeadershipSecrets of Jesus, Secrets of the Richest Man Who EverLived and the creator of The Master 7 Mentorship Program.Thousands view his weekly television program, Wisdom Keyswith Mike Murdock. Many attend his Schools of Wisdom thathe hosts in major cities... and his church, The Wisdom Centerlocated at 4051 Denton Highway, Fort Worth, TX 76117.

WISDOMONLINE.COM

The Legacy Plan©Information

DR

.MIK

EM

UR

DO

CK

Th

eL

egacy

Plan

©In

form

ation

©

“The wise look ahead to see what is coming, but foolsdeceive themselves.” Proverbs 14:8

Your Willingness To PlanGuarantees

Your Experience of Reward.–Mike Murdock

TWCLP-01

4051 Denton HwyFort Worth, TX 76117

1-817-759-BOOK1-817-759-26651-817-759-0300

You Will Love Our Website..!WISDOMONLINE.COM

©