Here are the most common ways to significantly increase your ministry impact through your Will:
- Add "Ministry" to your family. Some families treat ministry organizations like an additional child. For example, if a family has three children, they might add a fourth child named "Ministry" and divide the assets in their Will into four equal parts. Each of their children would receive 25%, and the remaining 25% would be divided among their favorite ministry organizations.
- Tithe on your Estate. Other families commit a 10% tithe of their estate to the ministry organizations they love, dividing the remaining 90% among their heirs.
- Cap. Others prayerfully decide to "cap" their children’s inheritance, leaving the rest of their assets to ministry. This approach is used when the parents want to provide a modest gift to bless their children and eliminate concerns of creating dependence or giving too much too soon.
- Update an existing Will. An attorney can add, delete, or change an item in your Will with an additional statement called a "codicil." Here's an example: "I give, devise, and bequeath twenty-five percent (25%) of my residuary estate to [church or ministry name] whose address is [city, state, zip code]. Like a Will, a codicil must be dated, signed, and witnessed.
Now that you have a basic idea of what you need to do to create your Will, here are some additional resources to help answer any questions you may have:
- Sample Bequest Language
- Four Advantages of Online Wills
- How do Online Wills Work?
- Do I Need a Lawyer to Make a Will?
- Including the Lord’s Work in Your Will
- How do I Find a Christian Estate Planning Attorney?
This information is not intended as legal, accounting or other professional advice. For assistance in charitable planning, consult an attorney for legal advice or the services of a qualified professional.