A Christian approach to estate planning

14/08/2023 25 min Temporada 5 Episodio 109
A Christian approach to estate planning

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Episode Synopsis

Guests:Jeff GrimmTim LehmanShow notes:Start with biblical principles: God owns it allStewardship vs. selfishness (mindset for both giver and receiver)Only God knows the impact of the money we give on the lives of others: will it help or hurt them?Love has to be motivation for giving.Not always positive to hand down lots of money to the next generation. Can breed laziness and entitlement.Other pitfalls: family members can have unanticipated expectations. Need to be aware of the range of potential expectations.Motivation should not be to get every dollar possible. Nor should we expect a "family discount".Communication is very important! If there is not effective communication, conflict will be an inevitable result.It is scriptural to provide for our own families; that does not mean we need to give them everything (don't need to prosper them).Need to keep in mind: how do I promote the christian lifestyle when I give? Will it continue reflecting Christ after I die?Estate plan is our final act of stewardship. Start thinking about it earlier, rather than later.Estate plan will need to be updated; often every 3-5 years.If possible, use professionals who have a Christian worldview.Be thoughtful and considerate when appointing an executor. It may be best to involve someone outside the family.Be careful to not be self-focused, but be considerate of others.There are two different types of gifts: unrestricted and endowed (with restrictions).Referenced Silver Lining article for information on Endowment Fund.Giving is not about the amount; it is always a blessing when we promote Christian principles.Our estate plan should reflect our Christian values.Scriptures are rich in speaking to financial stewardship; it is important to God.