Estate Planning

Planning is an important aspect of our lives as Christian stewards. In fact, developing a good estate plan is one of the single biggest acts of stewardship you can do for your family and those you love. Estate planning is for everyone, not just “retired” people, and certainly not just the wealthy, and a good estate plan deals with more than just assets. It deals with the relationships we steward as well. A Christian estate plan demonstrates the importance we place on family and faith, through decisions that honor our family members and give thanks to God for all his blessings.

Why Have A Plan

Simply put, if you don’t have a plan, the government has one for you, but it probably isn’t the plan you would want. A good estate plan provides excellent instructions during your life and after your death, regarding you, your family, your assets, and your charitable wishes. It attempts to eliminate uncertainties and conflicts over the administration of this process, minimize legal and probate fees, and maximize the value of your estate by reducing taxes and other expenses. It also provides instructions on how to care for minor children or children with disabilities, how to care for yourself as you age, how to share a portion of your estate with charitable organizations, and how to set up financial support for your family over a period of time.

Components of a Good Plan

A typical estate plan contains the following components:

  • Your Will
  • Power of Attorney and Advanced Care Directive
  • Tax and Financial Planning to maximize the estate residual
  • Planned Gift to support those organizations and ministries you are passionate about
  • Succession Planning to transfer your business or farm
  • Life/Disability Insurance to provide for your family
  • Record of Assets and Liabilities to understand what you are stewarding
  • Personal Information Directory identifying all important information
  • Christian Preamble to your will, expressing Christian values and beliefs
  • Funeral Plan to ensure your Christian wishes are followed

Contact us to set up your confidential complimentary conversation with a LFC representative.