Advancing Stewardship

Most Christians understand that giving, both to local churches and to parachurch ministries dedicated to spreading the Gospel, is as much a spiritual discipline as prayer and Bible study. Many are faithful above and beyond the call for a lifetime of giving for God’s glory. However, a comparatively small number recognize that with the proper estate plan, they can continue to “excel in this grace of giving” (2 Cor. 8:7 NIV) long after they’ve passed on to heaven.

AMG’s Advancing Stewardship ministry exists to serve the estate design and planned giving needs of our donors, sponsors, and other ministry partners. This ministry is provided free of charge with no obligation. We are providing this service in partnership with Ray Lyne of Lifestyle Giving. Ray has 40 plus years of experience and is one of the most respected and prominent estate designers in the country.

We offer this as a service to AMG ministry friends, and it is truly a “no-strings attached” ministry. We believe as good stewards of God’s resources that estate planning should be spiritual before it is mechanical. It only seems logical that, as we manage assets entrusted to us by God, we would seek out His plan of stewardship for our estate. As a fellow steward, I encourage you to read the following information on planned giving and let us know if we may serve you in any way. 

Reviewing Your Estate Plan
Most information written about estate planning is geared to the individual who has no estate plan. Therefore, we often think that once we have signed our wills, or planned our estates, we can forget about them. But that is not true. Estate planning is a continuing process. In this article from Lifestyle Giving, we want to list for you some reasons why you need to periodically review your estate plan, to make sure that it is up-to-date.

The Three-Year Rule
It has been suggested that you should review your estate plan every three years, to make sure that it is up-to-date. And this is not necessarily bad advice. But few people mark their calendars. If we condition ourselves to think of estate planning as a continuous process, we will be much safer. Whenever there is a change in your people, your property or your plans, your estate plan should be reviewed.

Changes in People
The following changes in people can affect your existing estate plan: a change in marital status of yourself or family members; a child or grandchild reaching legal age; newly born or adopted children or grandchildren; the death of a beneficiary; a personal representative or guardian who is no longer qualified or available; a witness to your will who is no longer available; a move to a state other than where your existing estate plan was drafted.

Changes in Property
Changes in property can also affect your existing estate plan. The following are some changes which will require review: a substantial increase in value of property, the acquisition of real estate in a state other than where you are a legal resident, the transfer of property specifically mentioned in your existing estate plan; an inheritance you have received; additional life insurance you have purchased; a substantial increase in the value of your retirement plan.

Changes in Plans
Changes can also occur in your desires for the distribution of your estate, or in the laws which were in effect when your existing estate plan was completed. The following are some of the areas to which you will want to give consideration: a substantial change in tax laws since your estate plan was drafted; a change in your desires for distribution of your estate; the increase or decrease of distribution from your estate to an individual because of changed needs; a substantial change in your charitable distribution desires; a change in your business relationship; a personal beneficiary has become handicapped or incompetent.

How Do I Review My Estate Plan?
The review of your estate plan will follow much of the same process followed when you created your original estate plan. It requires the assistance of competent counsel to make sure your desires will be accomplished. However, before you seek that counsel, let me suggest a simple process to help you formulate your desires.

Make a listing of your people. 1) List those to whom you wish to give because of dependency, and 2) list those to whom you wish to give because of love. Be sure to list your charitable organizations, too, because dependency and love are both valid reasons for your support.

Make a listing of your property, including approximate values. Add the values of the property, and think in terms of cash. Then answer this question: If death had occurred last night, how would you want the property divided among the people? However, before you make that decision, pray and ask the Holy Spirit to guide and direct you in your decision.

A Valuable Resource
Many individuals have found the material that the Lifestyle Giving staff has designed to assist our friends in the estate planning process to be just as valuable in the review of their estate plans. We have prepared a special “Guide to Planning Your Estate” which includes information and guidelines for the estate planning process, and an inventory form which can be used to list the data on your people, property and plans. We would like to make a copy available to you, at no cost and no obligation.

Again, we want to be of service to you. Whether you are making a review of your existing estate plan, or have not yet taken that first step in this important act of stewardship, please request your free “Guide to Planning Your Estate” today. There is no cost or obligation.

Pat Ragan is vice president of development for Advancing the Ministries of the Gospel (AMG) International in Chattanooga, Tenn.

For more information contact:
AMG’s Advancing Stewardship Ministry
c/o AMG International
6815 Shallowford Road, Chattanooga, TN 37421
Phone: 423.894.6060, ext . 202
E-mail: advance@amginternational.org
On the web: www.amginternational.org