Create a Lasting Legacy

How Do I Create a Last Will and Testament From a Biblical Perspective?

What is a Biblical Will?

A biblical will is a last will and testament that is prayerfully prepared and reflects biblical principles, values, and stewardship.

Why Is It Important to Have a Biblical Will?

As followers of Christ, we recognize that everything we have ultimately belongs to God and has been entrusted to us as stewards. A will is more than a legal document. It's an opportunity to thoughtfully and prayerfully direct the resources God has entrusted to you according to your faith and values.

Without a will, important decisions about your estate may be left to the courts. While a traditional will addresses legal requirements, a biblical will also considers God's principles for stewardship, caring for loved ones, generosity, and wise planning.

Scripture encourages us to:

• Be faithful stewards of what God has entrusted to us 1 Corinthians 4:2

• Provide for our loved ones 1 Timothy 5-8

• Give generously and cheerfully to God’s work 2 Corinthians 9:6-7

• Exercise wisdom in how we pass on our inheritance Proverbs 20:21

Whether you are creating a will for the first time or updating an existing one, our team can help you think through these important decisions from a biblical perspective before meeting with an attorney to prepare your legal documents.

Helping You Impact the World for Christ Through Your Will

Your will is one of the most important stewardship tools you will ever create. As you prayerfully plan your legacy, consider how biblical principles can guide decisions that will affect your family, your resources, and the causes you care about most.

Some important questions to consider include:

• How can you best provide for your spouse, children, parents, or grandchildren?

• What does the Bible teach about managing taxes, debt, and financial stewardship?

• How should you plan for a child who struggles with financial responsibility or is not walking with the Lord?

• Will the inheritance you leave encourage your children and grandchildren in their faith, or create unintended spiritual challenges?

• Who are the right guardians to raise your minor children if both you and your spouse pass away?

• What is the most effective way to transfer retirement assets and other resources?

• How can your estate continue to support ministries and Kingdom work for future generations?

By approaching these decisions prayerfully and biblically, you can leave a legacy that honors God, blesses your loved ones, and advances His work long after you're gone.

What Assets Can I Give Besides Cash?

Appreciated Assets

Appreciated assets include publicly traded stocks, closely held stock, bonds, mutual funds, and real estate that have increased in value over time.

Why Give Appreciated Assets?

Many Christians support their church and preferred ministries through gifts from their income or cash reserves. While these gifts are valuable, donating appreciated assets can often be a more effective stewardship strategy.

When you give appreciated assets directly to a qualified ministry, you may receive a charitable deduction based on the asset's fair market value while potentially avoiding capital gains taxes that could result from selling the asset first. This can increase the impact of your gift while maximizing the resources God has entrusted to you.

If you are considering selling an appreciated asset and would like to support ministry work, we can help you explore giving options that align with your financial goals and stewardship values. Our goal is to help you make informed, prayerful decisions that bless both your family and the ministries you care about.

The Possibilities Are Numerous

Many types of appreciated assets can be used to support the ministries and causes you care about, including:

• Publicly traded stock

• Mutual funds

• Bonds

• Real estate

• Business interests

• Private C-Corporation stock

• S-Corporation stock

• Family Limited Partnership (FLP) or LLC interests

• Mineral rights

• Gold and silver

• Cryptocurrency

Examples of Appreciated Asset Giving

Even if you are not in a position to give an entire asset, there may be creative giving options available that can help you maximize both your impact and stewardship.

Part Gift, Part Sale

For example, imagine you own 500 acres of appreciated farmland that you plan to sell. Before entering into a sale agreement, you could donate a portion of the property to a ministry. You and the ministry could then participate in the sale of the property. Depending on your situation, this strategy may provide a charitable tax deduction while reducing capital gains taxes, potentially increasing the resources available for both your family and the ministries you support.

Gift That Provides Income

Another option is to contribute all or a portion of an appreciated asset to a charitable trust. The asset can then be sold within the trust, and the trust may be structured to provide income to you for life or for a set number of years. After the trust term ends, the remaining assets are distributed to the ministries you have chosen to support.

This approach can offer a meaningful way to provide for yourself or your loved ones while creating a lasting ministry impact through your legacy.

What Charitable Giving Tools Are Available?

What tools can I use to give?

Many Christians support their church and preferred ministries through cash gifts. While these gifts are valuable, they are not always the most effective stewardship option. Depending on your financial situation, there may be giving strategies that allow you to support the causes you care about while also taking advantage of available tax benefits.

As faithful stewards of God's resources, we should seek wise and generous ways to invest in His Kingdom.

Giving Appreciated Stock

Donating appreciated stock directly to ministry may allow you to receive a charitable tax deduction while potentially avoiding capital gains taxes that could result from selling the stock first.

Giving From Your IRA

If you are age 70½ or older, you may be able to make tax-advantaged gifts directly from your IRA to support ministry. These gifts can also help reduce your taxable income, depending on your circumstances.

Giving Appreciated Real Estate

Real estate gifts can be a powerful way to support ministry. Depending on the gifting strategy you choose, you may receive a charitable deduction, reduce capital gains tax exposure, and even create an income stream for yourself or your family.

Donor-Advised Funds (DAFs)

A donor-advised fund can provide an immediate charitable deduction while allowing you to distribute gifts to your preferred ministries over time. DAFs are often a simple and cost-effective alternative to establishing a private family foundation.

Giving When Selling a Business

If you are preparing to sell a business, there may be charitable planning opportunities available before the sale is completed.

Charitable Gift Annuities (CGAs)

A charitable gift annuity can provide a fixed income stream for life while supporting the ministries you love. After your lifetime, the remaining funds become a gift that continues advancing God's work for future generations.

Charitable Remainder Trusts (CRTs)

A Charitable Remainder Trust (CRT) can be an excellent option for individuals who wish to make a significant gift of appreciated assets, such as real estate or stock, while also receiving income from those assets.

With a CRT, an appreciated asset is transferred into the trust and sold within the trust structure. Because of the trust's tax advantages, this strategy may help reduce or defer capital gains taxes that would otherwise result from a direct sale. In addition, the donor may receive a charitable tax deduction and an income stream for life or for a specified number of years.

The amount of income paid from the trust is determined when the trust is established and helps determine the charitable deduction available to the donor. At the end of the trust term, the remaining assets in the trust are distributed to the ministries and charitable causes selected by the donor.

A CRT can also be established through a will or living trust, allowing income to be paid to a spouse, family members, or other loved ones for a period of time before the remaining assets are distributed to ministry.

Giving Through Your Estate

One of the simplest ways to leave a lasting legacy is by naming your preferred ministries as beneficiaries of your financial accounts, life insurance policies, will, or trust. In some cases, naming a ministry as the beneficiary of a tax-deferred retirement account can be a particularly effective stewardship strategy, as qualified ministries can generally receive these assets without paying income tax.

Giving Life Insurance

Life insurance can be a valuable tool for charitable giving. Existing policies may be donated during your lifetime, and depending on your circumstances, you may be eligible for a charitable tax deduction based on the value of the policy.

Cryptocurrency

Cryptocurrency can be an effective asset for charitable giving, but special planning is often required to ensure your gift is structured properly and qualifies for available tax benefits. We can help you explore the best options for making a cryptocurrency gift.