By David S. Bell, Vice President of Stewardship for the United Methodist Foundation of Michigan
An estate plan is for everyone – young parents, retirees, singles, middle-aged people, and adults living with parents.
It enables individuals to be assured that their personal desires will be followed. An estate plan provides a tool to distribute people’s assets according to their faithful intent.
It may solve some personal financial situations, augment retirement income and certainly offer peace of mind throughout one’s life.
The launch of estate planning education should be grounded in the desire to equip Christians to be even better steward of God’s gifts in life. The church has a tremendous opportunity to help educate parishioners about the key components of a Christian estate plan.
In addition, the church may receive some benefit from providing such a service. Namely, the church may be named as a beneficiary of people’s assets.
As several church leaders find it more and more difficult to fund the daily church operations and ministry with offering plate contributions, income diversification is essential. The life gifts through planned giving may serve as an integral revenue source to fund mission and ministry.
Recognizing that all possessions are gifts from God, Christian stewards often are defined, in part, as ones who manage these gifts according to God’s desire. However, Christian stewardship includes more than money, homes, cars, investments, and possessions.
It is about all of life – everything! It is linked intrinsically to discipleship. Christian stewards offer their prayers, presence, financial assets, witness, and service for the sake of the Gospel.
People spend their lives acquiring things. The Church teaches that the faithful stewardship of one’s possessions is important. Christians are called to be good stewards of God’s gifts.
Many believers manage these possessions well throughout their lives. Yet, they often are not sure of the best methods for overseeing the care of these possessions beyond their own need. They are reluctant to establish any estate plan, notwithstanding one that will serve as a testimony to their faith.
They even avoid initiating plans that will make caring for one another easier during times of uncertainty or diminished health. In fact, over 50% of Americans have not established an estate plan. Thus, they are relying by default on the probate court system to implement a plan.
Estate planning is a key component of a steward’s financial discipleship. It provides for the purposeful distribution of our social capital. It helps us recognize that none of our possessions belong ultimately to us. (Read I Corinthians 4:7). It reminds us that we are in God’s care.
We are God’s children. We are part of something far greater than ourselves.
Generations have gone before us, and generations are yet to come. Estate planning helps to bear witness to God’s provision and to build legacies in God’s name for those future generations.
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