Your Christian Will
Set your affection on things above, not on things on earth. Col. 3:2
What is a Christian Will?
A Christian Will is a Will that includes the work of Jesus Christ and His church, locally and worldwide. Biblical stewardship teaches us that God owns everything, and we are stewards or managers of ALL of His creation and provision.
What is a Wills Clinic?
A Stewardship Seminar is an estate planning seminar whereby a Planned Giving Officer from the Stewardship Department of the Pentecostal Holiness Church presents to your congregation a program on wills, trusts and other estate planning tools. The presentation is followed by personal, confidential interviews with individuals in the congregation who desire this type of counseling. To see complete details of a clinic click "more."
Here’s How It Can Help You and Your Church
1. Your pastor may schedule a Planned Giving Officer (PGO) to come to your church for a Stewardship Seminar. There is NO COST to the church. The PGO will explain why you should have a Will and the steps involved in writing your Will.
2. Following this seminar, if you choose to have a Will written, the PGO will schedule an appointment with you for a confidential interview. At that time he will obtain necessary information and help you fill out a Confidential Data Questionnaire (CDQ). The CDQ is your written instructions to the attorney on how to write your Will. Remember to be specific and clear with your information.
The cost for writing a Will is only $25 per person. Minister’ wills are done at NO COST, as a ministry from the Planned Giving division of Stewardship Ministries.
3. The PGO then forwards the completed questionnaires to the IPHC Stewardship Ministries office in Oklahoma City where a para-legal produces the document. The attorney then reviews your Will to be sure it is written according to your specifications. The original and one copy is mailed to you from the attorney with a cover letter explaining how to execute your Will.
Requisites for a Will
To safeguard the validity of a will, certain formalities are required in the execution of the document: (Check with your attorney. Each state governs the probate process, and procedures may vary.)
- The writer must be of majority age and of "sound mind"
- It must be in writing
- It must be signed by
- The maker of the will
- Two witnesses, who witness the signing of all other parties
- The signatures should be notarized
- Upon the death of the maker, the will must be "probated," a legal process in which the state court proves the validity of the will, and directs its administration.
While a personally written will without an attorney may be legal in some states, it is strongly advised that a qualified attorney be consulted and direct the drafting of a will.
Who Needs a Will?
- Any person who has property or assets for which ownership will need to be transferred or assigned at death.
- Any person who has family or loved ones to whom he/she wishes an asset to pass.
- Any person who has minor children, or others for whom he/she are legally responsible, and for whom a guardian is needed.
One of finest gifts you might give the persons you love is the gift of a clear and comprehensive will. Many loving families seem to become divided and hostile when faced with decisions concerning the division of assets. If those decisions are made by the testator, such conflict is avoided.
Without a Will
If you die without a will ("intestate"), the state will take over and direct the transfer of your assets, the assignment of your property, the selection of guardians for your minor children, and will manage all of your business. But it will be done according to the "laws of intestacy" without regard to your wishes or the wishes or desires of your family.
Consider Remembering Your Church or Beloved Ministries in Your Will
A Will is a legal document designating the transfer of your property and assets after you die. The only way to be sure your wishes are followed is to have a carefully drawn Will.
Although Wills are simple to create, about 70% of all Americans die without one (or intestate), allowing the court to step in and distribute your property according to the laws of your state.
The preparing of a Will is not a do-it-yourself job. If certain criteria are not observed, your Will may be invalid. Your Will should be written and executed with the assistance and supervision of a qualified attorney. The stewardship Department has arrangements with a law firm to represent you as a member of the Pentecostal Holiness Church and assist us in the preparation of your Will through our Church Wills program.
The trustee named in your Will is the person who will manage the Trust. This might include managing rental properties, investing funds or paying income to the beneficiary. Your Will can create a Trust for children and others, to protect them against loss which might result from their inexperience in financial affairs.
How much a trustee is required to do and how much access he or she has to the funds should be specified in the Trust. Talk with the person you want to name as trustee of your estate. You should also choose a successor trustee should the trustee be unable to serve at the time of your death.
What are the benefits of establishing a Trust?
A Trust fund ("Trust") is not just associated with the wealthy. A Trust can actually be an effective financial tool for many people in many circumstances.
A Trust is a separate legal entity that holds property or assets of some kind for the benefit of a specific person, group of people or organization known as the beneficiary. In choosing a trustee, you may decide upon a professional with financial knowledge, relative, or loyal friend.
Whether it makes sense to establish a Trust depends on your individual circumstances. Some common reasons for setting up a Trust include:
- To provide for minor children or family members who lack financial experience or who are unable to manage their assets.
- To provide for management of your assets should you become unable to oversee them yourself.
- To avoid probate and transfer your assets immediately to your beneficiaries.
- To reduce or otherwise provide for payment of estate taxes.
Keep in mind that you may not need to establish a trust to accomplish these and other financial goals. A well-written Will may distribute your assets appropriately. A qualified Planned Giving Officer of the IPHC will be able to assist you.
Having a Will is especially important if you have young children because it gives you the opportunity to designate a guardian for them in the event of your death. Without a Will, the court will appoint a guardian for your children, and it may not be the person you would choose to love and educate your children.
Whether you choose a member of your family or a trusted friend, first consider these factors:
- Are they competent to take on the extra responsibility and care for my children?
- Do they have the necessary time to devote to the special needs of my children, to nurture
them and provide the home atmosphere I desire for them? - How would this affect their lifestyle and the members of their family?
Talk to the prospective guardian ahead of time about what you are asking. You should also choose a successor guardian should the guardian be unable to serve at the time of your death.
An Executor is the person responsible for settling a deceased person’s estate. The duties include inventorying, appraising and distributing assets; paying taxes; and settling debts owed by the deceased. If all this sounds a bit overwhelming, keep in mind an attorney can be helpful with the probate process or an accountant to file taxes.
Your Executor should not be selected for sentimental reasons. This person should have demonstrated ability in financial management. You should also choose a successor executor should your executor be unable to serve at the time of your death..
Many concerned Christians give generously during their lifetime to Christian causes. They enjoy seeing the results of their gifts. There’s nothing that can match the satisfaction of contributing to the work of God. You may choose to leave a gift of any size through your Will. Such bequests may reduce your tax liability.
Another way to benefit your church or charitable organization is to name it as beneficiary on a life insurance policy.
Take time to prayerfully educate yourself concerning the ministries that are close to your heart, and then give a gift that really counts. Great satisfaction comes from aiding a cause in which you truly believe. With planning, you can maximize the benefits for all concerned.
When you make your Will, if you desire to make a charitable bequest or "tithe" on your estate, here is a list of ministries within the Pentecostal Holiness Church.
DEATH IS MORE THAN AN ECONOMIC EVENT
It seems there’s never enough time to do all the things we intend to do in our lifetime. Many people live day-to-day with the uncertainty of what will happen to their families when they die. They have put off making the provision that will ultimately give peace of mind to their spouses and children.
Be a good steward and don’t put off your estate planning…for any reason!
Become one of the visionaries who look beyond the here and now…who are perceptive enough to see that we begin meeting tomorrow’s needs today. Designate a portion of your estate to be used for the work of God. It’s not the amount you give, rather it’s the excellence of your discernment…seeing and helping to provide for tomorrow’s needs today!
Hi Bro. Wood, We're a church of about 500 in attendance and I have a testimony as to the effectiveness of Planned Giving. Several years ago our church hosted a Wills Clinic with Jay Stone, one of the Planned Giving Officers. He did a really good job and worked well with our people. As a result of the clinic several wills were written in which Trinity was listed as a beneficiary. This past month we received over $110,000 from two estates. Just thought I would let you know....these Wills Clinics are well worth the time and effort! We're having another one August 1 and we'll do it every year from now on. Thanks for making these clinics available! Blessed Pastor |
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