Your Last Will & Testimony?
A Will is for the living. Make it
while you can!
Do you have a Will? Is it up to date? Did you write it last year? 5 years ago? 20 years ago? What were the circumstances that caused you to have one written?
At Harvest Endowment Foundation, we find that people commonly take action when:
- a couple has their first child,
- a family decides to take a trip overseas,
- someone close to them passes away which causes them to consider their own wishes, or
- an older couple begins to think about how they want “their” wealth or blessings to be distributed.
It doesn’t necessarily matter what eventually causes you to draft a Will. The important thing is that you have one – either your own or the government’s! A properly drafted Will ensures that the details of your estate can be worked out quickly and easily. For those who haven’t drafted a Will, the province has a default “Will” for you and, as a Christian, you will not like it. It will not reflect your personal wishes or circumstances, it does not make provision for Kingdom work, nor attempt to minimize taxes and/or legal fees (it requires the appointment of an Administrator).
We have all heard the commonly phrased statement “Last Will and Testament”. Did you know that your Will is more than your “Last Will and Testament”? Did you know that your Will is really a TESTIMONY? It is a TESTIMONY to your values, your priorities and your faith.
The making of a Will is an important act of stewardship. To recognize and acknowledge God as the owner of all things is a fundamental principle of Christian stewardship. Everything that has been entrusted to us by God will be distributed when we pass away and He has given us the important responsibility of deciding who gets what.
Does your Will accurately reflect your values, your priorities in life and your faith? If not…should it? If you don’t have a Will or have a Will needing an update, please look after it right away and remember to pray about these important decisions.
Stewardly Tip: There are several ways that charitable giving can occur within a Will. A popular strategy that incorporates an act of Stewardship and ensures our children are provided for is the “Child Called Charity” concept. The “Child Called Charity” concept includes a gift to charity equal to the share received by your children. In many cases a gift in a will can often lead to significant tax savings for your estate, and has a minimal effect on the amount received by your children.
Checklist for Prepapardness
The following checklist has been created to help confirm if you need a Will or need an update. Please take the time to read through and answer the questions. Do you know if your friends and family have their “stuff” in order? If not, will the responsibility fall back on you? Feel free to pass along this form to people who you think need a helping hand.