Leave A Legacy

“Unless the LORD builds the house, the builders labor in vain.” -Psalm 127:1

Ask the Lord to inspire your heart and guide your steps with principles from His Word. The tabs below can help you.

Prayer Of A Good And Faithful Servant:

Lord, the earth and everything in it is yours! (Psalm 24:1) Everything comes from you, and I have given you only what comes from your hand (1 Chronicles 29:14). You send poverty and wealth (1 Samuel 2:7). Have you not put a hedge around me and my household and everything I have? (Job 1:10)

Father, in your Word you said it is required that those who have been given a trust must prove faithful (1 Corinthians 4:2). And so Lord, I want to honor you with my wealth (Proverbs 3:9). I know that faith, if not accompanied by action, is dead (James 2:17). But unless I respond in love, I gain nothing (1 Corinthians 13:3). I am willing and my heart is moved to bring an offering to you Lord (Exodus 35:21).

Lord, you’ve called me to provide for my family (1 Timothy 5:8). And to provide for those who have instructed me in your Word (Galatians 6:6). And to share with your people who are in need (Romans 12:13). And to make disciples of all nations (Matthew 28:19). And so may my service of giving to you – during and after my lifetime – supply the needs of your people and overflow in many expressions of thanks to you (2 Corinthians 9:12), so that one day I’ll hear you say to me, “Well done, good and faithful servant.” (Matthew 25:23). For it’s in the mighty name of Jesus I pray. Amen.

What Does God Say About Providing For My Family?

• Make provision for your loved ones. “Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” (1 Timothy 5:8)
• Take steps to avoid interpersonal conflicts. “Whoever brings ruin on their family will inherit only wind, and the fool will be servant to the wise.” (Proverbs 11:29)
• Be cautious about leaving large inheritances to children. “An inheritance claimed too soon will not be blessed at the end.” (Proverbs 20:21)
• Don’t store up excess resources you don’t need. “Then he said, ‘This is what I’ll do. I will tear down my barns and build bigger ones, and there I will store my surplus grain.” (Luke 12:18)
• Use family resources to reach people for Christ. “It is God Who gives seed to the man to plant. He also gives the bread to eat. Then we know He will give you more seed to plant and make it grow so you will have more to give away.” (2 Corinthians 9:10)

5 Ways To Bless Your Families Future:

1. Create a will. When people start adding up the value of their home, life insurance, retirement accounts, and other property, they begin to see that even with a modest middle class estate, a plan is needed that provides for their families and the charities they love.

2. Reduce (or eliminate) unnecessary taxes and court costs. A will can help you reduce probate hassles and costs, avoid certain taxes, and decrease other administrative expenses – freeing up more resources to your heirs and charitable work.

3. Decide who will manage your stuff after you die. Without a will, a court decides how to distribute your estate. On the other hand, when you name your own representative in your will, you decide who will distribute the money and things entrusted to you.

4. Decide who will take care of your kids. If you have minor children, a will allows you to name the Guardian of your children and a Trustee of the assets to provide for the children. If a court is left to make these decisions for you, your spiritual values may be disregarded.

5. Include “ministry” in your family. Your will can be powerful a testimony to family and friends. Including your extended “family” in your will – namely your church and favorite charities – is a wonderful way to express your values for generations to come.

What Happens If I Die Without A Will?

If you do not have a will, the State actually has one for you. Unfortunately, that means state law would determine (without your input):

• Who will be the next steward of the resources entrusted to you
• Who will care for your young children
• Who will administer your estate

With a will, you get to decide these things. In addition to making sure your immediate family is provided for in your will, you can also bless your extended “family” – including your church and favorite charitable organizations.

These 10 Life Events May Signal It’s Time For An Up-To-Date Will:

1. Marriage or divorce
2. New baby, adopted children, or stepchildren
3. Moving to another state
4. Changing your mind about heirs
5. Major changes in property ownership or financial assets
6. Changes in estate planning and estate tax law
7. Death or disability of someone named in your will
8. Children have reached the age of 18
9. You would like to provide for a ministry organization
10. It has been three years or more since you have reviewed your will

“He who refreshes others will himself be refreshed.” -Proverbs 11:25

One of the best ways to steward the resources entrusted to you is to have an up-to-date will that reflects your personal values, provides for your loved ones, and blesses the charities you care about. Below we’ve included some practical resources to help you begin your journey.

Get Help In Person

Save time and money by filling out our Will Guide on your own before you see an attorney or estate planner.

DOWNLOAD GUIDE

Get Help Online

Every online will creation website provides a slightly different user experience, but they all provide a simple way for you to provide for your loved ones and the charities you wish to support. Follow the links below to choose the right one for you.

• Mama Bear Legal Forms (endorsed by Dave Ramsey)
• LegalZoom
• Nolo
• US Legal Forms

Links to third party sites are provided as examples of commonly known resources for information purposes only. CHI does not endorse any third party products

Sample Bequest Language

“I give _______ (% or dollar amount) of my estate to Child Hope International (EIN: 31-1811232) for its general use.”

“We will tell the next generation about the glorious deeds of the Lord,
about his power and His mighty wonders.” -Psalm 78:4

Use the links below to multiply the blessing of your will to you, your family, and the ministries you love.

An Ethical Will

An ethical will (or Legacy Love Letter) is a personal document you create to communicate your values, experiences, life lessons and family heritage to your family. Unlike a legal will which focuses on passing along your physical assets, property and items of monetary value, an ethical one serves to share guiding principles, memories, spiritual values, stories of personal faith, family objects with personal (but not necessarily monetary) value and future wishes for your family.

Writing an Ethical Will

Because an ethical will is not a legal document, and is not made for the purpose of distributing assets, the content and form of your letter is up to you. Here are four themes you may wish to cover:

Beliefs and Values. What do you believe about God? What are your guiding principles when it comes to marriage, raising children, church and ministry, handling money, etc.?

Life Lessons. What were some of the defining moments of your life, and what did you learn from them? What experiences and people are you most grateful for? Think of significant events, moments and experiences in your life. What would you like them to know about your hopes for their futures?

Personal Feelings. How can you communicate love to them? In other words, how have they impacted your life in a positive way? Is there anyone you owe an apology or confession you’ve never been able to communicate? An ethical will can be a powerful place to share these feelings.

Message of Hope. What are some of the most meaningful passages of Scripture to you? What message of hope and encouragement do you wish to leave to your family and friends?

Setting Up Your Legacy File

Make it easy for your loved ones to locate the documents they’ll need when the time comes

Contents List.  A list of the contents in your Legacy File

Duplicate Copy. If you create a duplicate copy of your Legacy File for your executor and for a safe deposit box, you should provide contact and location information.

Finances. Provide a list of bank accounts, CDs, mutual funds, and other investments with institution names, account names, and account numbers.

Funeral Instructions. Provide details about your wishes for the funeral service, funeral home, burial arrangements.

Important Documents.  Create a “catch all” file for all other important documents your family may need such as birth certificates, Social Security cards, titles, etc.

Insurance. Create a single file with all insurance information – including auto, home, life, health, disability, etc. List the company name, policy numbers, and contact information.

Monthly Budget. Include a copy of your monthly budget to help your family keep track of bills and run your household once you are gone.

Passwords. If you’re like most people, you have probably have a large and growing list of passwords, usernames, and PIN numbers for your bank accounts, web sites, voicemail, and more. Make a list of these important access codes in a single file.

Ethical Will. You may wish to include a letter from you expressing your spiritual values, your love for family, your life lessons and beliefs.

Tax Returns. It is recommended that you keep up to 7 years of tax returns on file in the event that you are audited by the IRS. This precaution will spare your family from a lot of unnecessary hassle if you are no longer around.

Will. A signed copy of your will, including information about guardianship, beneficiaries, executor, power of attorney, financial accounts, and charitable interests.

Source: Selected concepts based on the Legacy Drawer at www.daveramsey.com

Notice Of Bequest Letter

If you have included us in your will, we’d like to thank you appropriately and be sure we understand and honor your gift intentions. You can help us do that by sending us a “Notice of Bequest” letter. Here is a sample:

In recognition of my strong belief and confidence in its mission, I have made a gift by will to Child Hope International.

If I make any change to this provision or if the value of the bequest or gift changes substantially, I will notify Child Hope International of such change.

I understand that all information listed below will be kept in confidence unless I authorize its release.

• Name
• Mailing address
• Email address
• Estimated current value of the bequest

Other Ways To Give

Charitable Gift Annuities

CGAs are a simple arrangement that involves a charitable gift and an annuity. You simply make a gift (part of which is tax deductible), and receive fixed annuity payments each year for the remainder of your life. At the end of your life, the charitable gift goes to support our work.

Stock Giving

Did you know appreciated stocks, bonds, and mutual funds in a taxable investment portfolio can be transferred as gifts to support Kingdom work? Giving stocks provides a significant opportunity to avoid capital gain tax, receive a deduction and simplify your giving.

Charitable Trusts

A charitable trust allows you to bless a ministry you care about while still providing an income for you or your heirs. With a charitable lead trust, money is paid first to the ministry of your choice for a specified amount of time. Then at the end of the trust period, the balance goes to a designated beneficiary. A charitable remainder trust reverses that order, paying your heir first.

Retirement Assets and IRA Giving

Designating a ministry as the beneficiary of your retirement account offers a number of tax advantages. Unlike individual beneficiaries, ministries are not required to pay income tax on withdrawals from these accounts, plus the sum you give will not be included in your adjusted gross income.

Gifts In Kind

Gifts in Kind refer to the practice of giving actual goods or services to a ministry versus donating the money to buy them. These types of gifts can be as creative as the person giving them!

Real Estate Gifts

Many people like to give gifts of real estate because the inherent value of the property far exceeds that of any other single asset. It’s very popular because even individuals with modest estates typically own real estate.

Point of Death Transfers

POD Transfers are a way of designating beneficiaries to receive your assets automatically at the time of your death, without having to go through probate court. They also allow you to specify the percentage of assets each person or entity will receive.

Donor Advised Funds

One of the simplest ways to give real estate, stocks, mutual funds or commodities is through a Donor Advised Fund. This is an account for setting aside money or assets, receiving immediate tax benefits and allowing you the flexibility to distribute gifts over time. It’s like having your own charitable giving account.