Tuesday, November 14, 2017

Legacy Giving Ministry

By: Richard Carnes

We often discuss with church leadership that the local church is the most overlooked charity in estate stewardship and legacy giving. It is not that church members are opposed to supporting the ministries and mission efforts of their church in this fashion. Rather, it is primarily due to the fact that most church members are never encouraged by their church leadership to consider giving a part of their estate to their church.

In most churches, the stewardship focus has been on tithes and offering giving that comes from members’ income and “liquid assets”, which may represent only a small portion of a member’s net worth. Certainly, it is good for the church to instill this discipline of current giving, but the discipline of financial stewardship should also include an attitude of legacy giving.

What is a legacy gift?

· It is a gift over and above tithes and offerings. It is a gift out of assets not out of income.

· It is a gift that can’t be put in the offering plate.

· It is a gift made in light of the giver’s overall estate and financial plans.

· It is a gift that uses tax-advantaged methods to accomplish the giver’s objectives.

· It is a gift that may require professional adviser assistance to complete the contribution.

Developing a coordinated legacy giving effort is how the church can equip its members to be Kingdom-minded with their resources. The legacy gifts that transpire from the churches’ stewardship education efforts will most certainly provide additional “above and beyond” financial resources that will permit the church to enhance and expand its programs and ministries.

As church leadership prays about its obligation to educate church members about the stewardship of legacy giving, the leadership should determine how legacy gifts will be used to further the church’s mission and what Kingdom impact will result from receiving legacy gifts.

How does a church get started in developing its personalized legacy giving ministry? An excellent first step is to contact the Kentucky Baptist Foundation. We welcome the opportunity to explain our legacy gift program development assistance. You may contact us at our toll-free number (866) 489-3533.

Richard Carnes is the president of the Kentucky Baptist Foundation, P O Box 436389, Louisville, KY 40253; toll-free (866) 489-3533; KYBaptistFoundation.org

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.


Wednesday, November 8, 2017

A Christian’s Estate Plan

By: Richard Carnes

As with most things, the world’s way of approaching estate planning is profoundly different from God’s way. Estate planning affects literally everything we consider ours. Because of that, it is the single most important act of stewardship we will ever undertake.

Sometimes an event causes a person to confront their mortality, and they engage in introspection about their relationships and values. Possibly the person is stimulated to complete an estate plan they have long postponed and finally take the steps to ensure that their wishes are fulfilled. Maybe they start thinking about the ways they can use lifetime accumulations to make a difference for God’s Kingdom in the lives of the next generation.

As believers we understand that God is the owner of everything; in estate planning we are merely arranging to transfer stewardship responsibility, hopefully in a way that would please the One who has created and who owns all things. God said in Psalm 50:10-12, “… for every animal of the forest is mine, and the cattle on a thousand hills. I know every bird in the mountains, and the creatures of the field are mine.”

In preparing our estate we are faced with a number of fundamental considerations that go to the heart of creating an estate plan that reflects God’s priorities. How shall I provide for my family members? What kind of eternal impact do I want to make through ministries that have been important to me and my loved ones over the course of our lives?

A complete estate plan is an affirmation of the meaning of your life – what you ultimately value, your affections, and the ways in which you want your life to have made a difference for God’s Kingdom.

Because the tools and techniques available to the believer are equally available to the non-Christian, there can inherently be nothing about the tools themselves that make an estate plan “Christian”. Rather, it’s the design of the estate plan. It is the prayer and careful thought put into it that will determine how well it reflects Biblical priorities.

Call upon the Kentucky Baptist Foundation as a helpful partner in these vital planning decisions.

Richard Carnes is the president of the Kentucky Baptist Foundation, P O Box 436389, Louisville, KY 40253; toll-free (866) 489-3533; KYBaptistFoundation.org.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.