Building a Legacy: Estate Planning with a Biblical Perspective
Building a Legacy: Estate Planning with a Biblical Perspective
By Matthew Allgood, Principal and CFP®
Estate planning is often viewed through the lens of practicality and legality, primarily concerned with the distribution of assets after one's passing. However, for those of us guided by faith, estate planning can serve a much higher purpose. It becomes a profound opportunity to leave a lasting legacy that honors Biblical principles and reflects our deepest values.
The Biblical Foundation of Stewardship and Legacy
Scripture offers abundant guidance on stewardship, emphasizing the importance of managing God's gifts with wisdom and foresight. In Matthew 25:21, the faithful servant is commended: "Well done, good and faithful servant. You have been faithful with a few things; I will put you in charge of many things." This parable underscores the importance of faithful stewardship, a principle that extends to how we plan for the future of our estates.
Charitable Giving: Extending Your Impact
Charitable giving is a cornerstone of Biblical stewardship. Acts 20:35 highlights the blessings of giving, reminding us, "It is more blessed to give than to receive." Incorporating philanthropy into your estate plan not only ensures that your assets continue to serve a godly purpose but also instills values of generosity and compassion in succeeding generations.
Approaching Conversations with Family
Discussing estate planning with family members can be challenging, yet it presents a critical opportunity to share your values and visions. It's important to approach these conversations with clarity, grace, and a spirit of unity. Expressing your wishes from a faith-based perspective can help align your family around common values, making the process not only a financial arrangement but also a spiritual and relational bonding experience.
Stewardship of Assets
Estate planning from a Biblical perspective involves thoughtful consideration about the stewardship of your assets. This includes prudent management while you are alive and strategic distribution that aligns with your faith principles after your passing. For instance, ensuring your investments and savings are used in ways that reflect Christian ethics, such as supporting ministries or aiding the less fortunate, can be part of your legacy.
Legal Tools and Spiritual Wisdom
Utilizing legal tools such as wills, trusts, and healthcare directives in estate planning ensures that your assets are protected and distributed according to your wishes. However, integrating spiritual wisdom into these decisions ensures they resonate with your moral and ethical convictions. Seeking counsel from financial advisors who respect and understand these spiritual dimensions can be invaluable.
Estate planning is much more than a legal necessity—it is a stewardship responsibility and a chance to leave a legacy that extends beyond material wealth. By aligning our estate plans with Biblical teachings, we can ensure our legacies reflect our values and faith, impacting our families and communities for generations to come.
At Allgood Financial, we are committed to helping you navigate this sacred responsibility with wisdom and integrity. Together, we can craft an estate plan that honors your faith, supports your loved ones, and glorifies God through your earthly and eternal commitments.
