One of the creative ways people passionate about LCMI’s gospel ministries can support them is by making gifts through their wills or other estate planning tools. Attorney and Board Member Don Davis agreed to write this article for our friends about one element of good stewardship.
We call the two parts of the Bible the Old Testament and New Testament. “Testament” comes from the Greek word for “will” or “covenant.” The Old Testament (OT) tells about God’s dealings with and plans for man before Christ came, while the New Testament (NT) reveals the new covenant made possible by our Savior of which we are the beneficiaries.
Hebrews teaches that God’s “new will” is superior to the old, making a way for us to be permanently right with Him (10:10). The OT promises revealed God’s plans for His creation and loved ones but could not be effective until the death of the “testator,” or will-maker (9:16-17). The writer of Hebrews used a will as an analogy, and we can apply this picture to our own stewardship.
A good steward has a valid, up-to-date will that directs how to use his/her entrusted resources for the benefit of survivors. Beneficiaries may include dependents, individuals, or organizations that were close to the decedent in life. A will is the written expression of those plans.
Old Testament
Some may have a will written long ago, especially when first becoming parents. Those wills focused on caring for minor children, guardians, and financial management. When children are grown and no longer dependent on you, you may wish to include your church or an organization like LCMI as a beneficiary of some of your assets. Even a recent will can become “old” if you have new beneficiaries in mind. A good steward keeps the will current.
New Testament
If you recently made a new will, I commend you for your good stewardship! You have said:
- I care. You care about those, especially minor children, who depend on you. You care about what happens to the things God has blessed you with and that you want your property used for those needs about which you care most.
- I want to be a good steward. You realize your money is a trust and you are responsible to God for its use. You want to hear “well done, good and faithful steward” and don’t want others to make decisions for you.
- I believe in being prepared. You want to be ready to meet God and to care for those you leave behind. You’ve said you want to plan ahead since you don’t know when God will call you Home.
- This is important to me. Your will reveals your heart. Christ said, “Where your treasure is, there your heart will be also.” How your will distributes your treasure reflects your priorities.
Remember that wills require review. Don’t let your new testament become an old one. Keep it updated as needs and priorities change.
No Testament
More than half of U.S. adults die without a will. In those cases, the state decides how assets are handled and who will be responsible. Consider Henry Bridges (not his real name). Henry loved the Lord but died of cancer at 35 without a will. His wife, Sue, had a difficult time straightening out his estate and had to apply to the state for guardianship of her own children. Though their home was jointly owned, Henry’s retirement plan and other assets were in his name alone, and two-thirds of their value went to the minor children, requiring Sue to account annually to the court. A short time later, Sue died in a car accident without a will. The state placed the children with unsaved relatives, where they could not attend church or Christian school until they were older.
We do not know what tomorrow may bring. Joint ownership and named beneficiaries are helpful for insurance and assets, but only a will ensures a plan when the unexpected happens. Don’t be in the “no testament” group. When circumstances permit, and you want part of what you have to support the gospel when you die, please consider LCMI in your plans.
We will share other stewardship ideas in future posts. Let us know if you have questions, and we will be glad to answer them.