Legacy Building Articles
Simple but Lasting Impact
Many people are intimidated by the legal language in bequests, but leaving a legacy of the resources God has provided can be simpler than you think. Here are some ways to produce lasting impact in the lives of your family and Kingdom organizations that are important to you.
It’s important to review your plan at least every two to three years—or after major life changes like the ones below—to reflect your personal and Kingdom goals.
- Death of spouse
- Birth of grandchildren
- Retirement
- Business changes
Beneficiaries and relationships change, and outdated information can impact your bequest. Update your beneficiary designations on the following items:
- Life insurance
- Retirement and pension plans
- Brokerage accounts
Consider how your bequest will impact the people and organizations included in your will or trust.
- How much is enough?
- Lump sum or over time?
- Transferred with or without values?
- Does your family have members with special needs?
Think about creative gift-planning opportunities.
- Trusts to protect beneficiaries
- Trusts to provide income
- Trusts to produce eternal impact
- Create your largest lifetime gift
- Family giving fund
These are some simple ways to produce lasting impact. Wycliffe Foundation can help you with the process of reviewing your current plan or developing a new plan that reflects your goals. For more information, contact us.
