Twelve Steps For Christian Estate Planning- Step #9

By: Laurie Valentine- COO & Trust Counsel

Step #9 Include a Legacy Gift in Your Plan. The Bible reminds us God owns everything and we are merely the managers, not the owners, of all with which he has blessed us. We can “Honor the Lord with your substance” (Proverbs 3:9), by including a gift out of our assets (“substance”) that will help advance God’s Kingdom in this world.

That is what legacy gifts in the context of Christian estate planning are----gifts out of your assets that provide either immediate or deferred benefits to one or more Christian causes you name in your plan. Bequests in Wills and Trusts; designating a Christian cause as a beneficiary of all or a portion of a life insurance policy or retirement account; and gifts that provide benefits first to you and/or others and then to charity are all ways to include a legacy gift in your plan.

Legacy gifts can provide tax savings to the giver and valuable long term financial strength and stability to the charitable cause(s) named to benefit from your gift.

And, most importantly, including a legacy gift in your plan allows you to make a lasting difference for the cause of Christ in this world.

Next Month-Step #10 - Plan Now for Possible Future Incapacity—Part 1.

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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.