Putting your name on a building project or on the future of a ministry is not about lifting you up. It’s about training the next generation. It’s about a family legacy.
What did you inherit from your parents or your grandparents? Whether it was your grandfather’s pocket watch; the family farm; a treasured family heirloom or perhaps your mother’s smile… We all become heirs to something. You see, regardless of the size of the estate you inherited something. Maybe it was their attitude about giving.
Winston Churchill said “We make a living by what we get but we make a life by what we give.” It’s not a question of what we have when we die – the question is what we do with what we have while we are alive. Proverbs 13:22 teaches us that “A good man leaves an inheritance for his children’s children.” The first step in that process is to start thinking about what kind of legacy I want to leave behind. What do you want your grandchildren to remember about your life? Do you want them to remember how much you accumulated or how much you helped others?
The whole point of having a legacy is for others – often family members – to follow in your steps. It’s like a veteran’s parallel pride: you want your kids to feel the same patriotism.
TRAINING THE NEXT GENERATION
HOW TO GIVE MORE AND KEEP MORE
Benjamin Franklin said “There are two things that are certain, death and taxes.” Legacy giving won’t help you avoid death but it can certainly help you avoid some, or all, of the taxes on your estate when you die. Legacy giving simply put is planning today for what you will give after you are gone. It is also a way to begin teaching your children, and your children’s children, about your values and it allows you to be a good steward of the blessings that God has entrusted to you.
If you are currently writing checks for charitable giving, and also have appreciated stocks or mutual funds in a taxable investment portfolio, it is very likely you have an amazing opportunity to pay less tax, give more, improve your personal cash flow, and simplify your giving.