An Investment in Christ-Centred Leadership Development
Spring is almost here! My family can’t wait for sunny days and the promise of hot summer temperatures ahead! For us, it also means spring cleaning around the house and garden. It is also a great time to do some “financial spring cleaning”. This is an ideal opportunity to review all your investments, update your will and ensure your estate plans are current to reflect your wishes.
A Biblical Perspective
In 1 Chronicles 29, King David leaves his wealth to a trustee to ensure the temple could be built after his death. This is a clear example of “planned giving or deferred giving”. David bequeaths his entire wealth so that his son Solomon, could build the temple. To guarantee David’s plans and to carry out his wishes, he gave his gifts to Jehiel the Gershonite ( 1 Chronicles 29:8 ). Jehiel became the trustee of the gifts to complete the construction of the temple.
Estate planning and the preparation of a legal will and/or a charitable bequest, is an opportunity to honour God with our gifts. This enables us to give back a portion of the financial growth He has showered us with during our lifetimes.
Types of Bequests
Cash Bequest: Northwest receives a specific dollar amount from your estate.
Bequest of Property: Northwest receives specific assets (real estate, securities, or other tangible property – art or antiques etc)
Retirement Plan Bequests: Northwest is designated as a beneficiary of the remainder of your RRSP/RRIF. This is simple to set up. First talk to your plan administrator and complete a “change of beneficiary “ form.
Many people pay more tax in the year of death than in any other year during their lifetime. Complete estate planning should always include tax planning. Charitable giving upon death is an excellent way to reduce your tax liability.
In addition to your annual gift to Northwest Baptist Seminary, have you considered leaving a gift to Northwest in your will?
Thank you for your involvement in this ministry. It is through the your generous support and your financial gifts that allow us to pursue our ministry in Christ-Centered Leadership Development.
If you would like to discuss how to become a Legacy partner with Northwest please contact Ron Sing, Director of Development. Direct: 250-821-3777 or toll free : 1-888-402-3477.
Visit Northwest’s web-page on “How to Donate to Northwest”.
This article is for general information only and does not replace consulting with your professional financial and/or legal advisors about your own situation.