For Kairos, serving as the Trustee of your Church Trust is an honor. It also carries the responsibility of administering the terms of the trust during both the passive and active phases.
Passive Phase: During the passive phase of the Church Trust, the Trustee maintains its relationship with the church to ensure the ongoing viability of the congregation and the preservation of the assets of the trust. Activities of the Trustee include the following:
- Ensuring that the church remains true to its heritage and values;
- Defending the Trust against any entity laying claim to or wishing to control the assets;
- Confirming that the church continues to occupy the trust property, pays its bills and maintains the property in good condition;
- Verifying that the church remains viable by periodically confirming its attendance and finances;
- Maintaining a compassionate relationship through regular contact with the church leaders.
Active Phase: During the active phase of the Church Trust, the Trustee liquidates and distributes the Trust property in accordance with the Trust terms. The activities of the Trustee will include the following:
- Confirming that the church leaders and members are committed to close the church;
- Assisting the congregation in preparing an appropriate celebration of its legacy;
- Preparing the Trust assets for sale;
- Marketing and selling the Trust property at a competitive price given the then current market conditions and the location and condition of the property;
- Reimbursing legal and real estate professionals for assisting in the closing and settlement of the property sale;
- Determining that all named beneficiaries in the Church Trust are still eligible to receive the designated funds, and if not, determining an appropriate successor;
- Sending the designated percentage or dollar amount of the net proceeds to the named beneficiaries;
- Filing to legally dissolve the church corporation.