Estate Planning Month
October is recognized as National Estate Planning Month. Every pastor is encouraged to provide your congregation with basic information regarding this often-neglected area of “Godly Stewardship.”
Here are several ways estate planning can be beneficial:
Protection for Your Loved Ones: An estate plan can ensure that your family is taken care of financially and that your children are placed under the care of a trusted guardian.
Minimizing Taxes: Effective estate planning can help reduce the taxes that might be levied on your estate, ensuring that more of your assets are passed on as you desire.
Preventing Family Disputes: Clearly outlining your wishes can help avoid potential conflicts among family members regarding the distribution of assets.
Incapacity Planning: An estate plan can include documents like a durable power of attorney and a healthcare directive, ensuring that your affairs are managed according to your preferences if you become incapacitated.
Charitable Contributions: If you wish to leave part of your estate to charities, an estate plan can help you accomplish this in a tax-efficient manner.
Every person needs a well-defined estate plan. To that end, the AGOK Foundation has prepared a 28-page booklet entitled Planning Your Legacy: A Guide to Planning Your Will and Trust. Please contact us to request your free copy.
If your local church does not already have an established Endowment Fund, the Foundation is willing to assist with making that a reality! An Endowment Fund established for perpetuity generates annual distributions for missions, youth ministries, and children’s ministries—even beyond your lifetime!
If the Foundation can assist you, please give us an opportunity.
