A biblical will is a last will and testament that was prayerfully designed with scriptures and biblical concepts in mind.
WHY IS IT IMPORTANT TO HAVE A BIBLICAL WILL?
TO ANSWER THIS QUESTION, let’s first look at the two alternatives to not having a biblical will. First, you could choose to have no will at all, but this would leave important stewardship responsibilities – entrusted to you by God – in the hands of the courts. We know from 2 Kings 20:1 that God wants us to have our affairs in order, so this doesn’t seem like a fitting alternative. Second, you could choose to just have your attorney draft your will from an entirely legal viewpoint. However, when you stop to consider that everything you have actually belongs to God (Psalm 24:1) and you are His steward, designing your will simply from a legal viewpoint isn’t a good alternative for Christians either.
Your will is the legal document that transfers stewardship of everything God has given you. So, a Christian’s will should be prayerfully designed with God’s Word in mind. Consider the following scriptures:
God wants us to be good stewards.
1 Corinthians 4:2
God wants us to provide for our loved ones.
1 Timothy 5:8
God wants us to give cheerfully to the Lord’s work.
2 Corinthians 9:6-7
God doesn’t want our heirs to get too much too soon.
Proverbs 20:21
Whether writing your will from scratch, or updating your existing will, we will fully prepare you – from a scriptural perspective –to have your will or trust drafted with an attorney.
HELPING YOU IMPACT THE WORLD FOR CHRIST; THROUGH YOUR WILL:
As you design your will, consider biblical principles of stewardship when answering important questions such as:
- How do you plan for your spouse, children, parents, or grandchildren?
- What does the Bible say about taxes and debt?
- How do you plan for a child who wastes money or is living an ungodly lifestyle?
- Will the amount of inheritance you leave your children draw them closer to Jesus or push them further away?
- How do you choose the right guardians to raise your minor children if you and your spouse both pass away?
- What’s the best way to transfer remaining retirement?
Definitions
Gift of Cash
One of the easiest and most common ways for you to support Hope Unlimited for Children is with a gift of cash. Cash can be used to support our work in the form of an outright gift. By making a cash gift by check, credit card ACH transfer from your bank account or money order today, you enable Hope Unlimited for Children to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive a federal income tax charitable deduction when you itemize on your taxes.
A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds one you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money, change the beneficiary, or close the account.
Living Trust
Like a will, a living trust is a legal document that lets you distribute your possessions to people and organizations after you die. A living trust “owns” the property you put into it, while still allowing you to maintain control. You can put most types of assets into a living trust, as long as they have value.
Charitable Lead Trust
A charitable remainder trust is a tax–exempt irrevocable trust designed to reduce the taxable income of individuals and support charities.
Charitable Lead Trust
A charitable lead trust is an irrevocable trust designed to provide financial support to one or more charities for a period of time, with the remaining assets eventually going to family members or other beneficiaries. Charitable lead trusts are often considered to be the inverse of a charitable remainder trust.
Donor Advised Fund
A donor advised fund (DAF) is like a charitable savings account. It gives you the flexibility to recommend how much and how often money is granted to the harity of your choice.
Smart Giving from Your IRA
For those 70–1/2 years of age or older, you can give any amount up to $100,000 per year from your IRA directly to a qualified charity without having to pay income tax on the money. This gift option is commonly called the IRA charitable rollover, but it is also referred to as a qualified charitable distribution or QCD.
