Proper planning can help your gift make a greater impact on your family, your church, and other ministries you hold in high esteem. Below you’ll find several basic components to have in place to ensure you’re making the most of the resources God has entrusted to you.
Getting Started on Your Generosity Journey
A Will is a legal document that allows you to decide how to distribute your estate, who will manage your estate, and who will oversee the transfer of property at the time of your death. If you are a parent of young children, it is especially crucial to have a Will as it will ensure that your wishes for their ongoing care and the distribution of your assets are followed. If you do not have a Will, the government will be given control of your assets as well as the decision of who will raise your children.
Naming a “Durable Power of Attorney with Health Care Directives”
Should you ever become incapacitated, this person will be given control to make decisions regarding your finances and other legal matters. Should you ever lose the ability communicate, the addition of “with Health Care Directives” allows this person to make health care decision on your behalf. Be sure to choose a trusted individual who understands your goals and values.
A Living Will
A Living Will is a written legal document declaring your intentions for what actions your “Durable Power of Attorney” should take given you are no longer able due to illness or incapacity. In the absence of a named “Durable Power of Attorney” or Living Will document, decisions regarding your health care fall under the law of federal and local state government.
A Living Trust
A Living Trust is a legal document that designates a trustee (usually the person named your “Durable Power of Attorney”) to manage your assets on your behalf during your lifetime, often with lifetime income payable to you and the balance payable to your named beneficiaries upon your death. One key advantage of Living Trusts is that they bypass the legal process of validating a Will (known as probate) for assets listed within the Trust, meaning your trustee can manage your assets during and/or after your life outside the courts.
An Electronic Will
An Electronic Will allows you to designate a person access and control to all accounts and information that are password-protected in web-driven services. This includes everything from online bank accounts you wish to be frozen to social networking sites you wish to be deactivated upon your death.
A Legacy Will
A Legacy Will is a non-legal document that gives you the opportunity to record key pieces of your personal story to share with family and friends who survive you. It includes questions about your upbringing, your spouse and your spiritual life to help fill in the gaps of “conversations we wish we’d had.” Our version of a Legacy Will, called “My Legacy Story,” can help confirm the legacy of God’s grace for the next generation.
Our Commitment to Our Donors
LegacyWay places the utmost importance on protecting the privacy of our donors. We do not sell, share, or trade our donors’ names or personal information with any other entity, nor send mailings to our donors on behalf of other organizations.
This policy applies to all information received by LegacyWay, both on- and offline, on any Platform (‘Platform’ includes the LegacyWay website and mobile applications) as well as any electronic, written, or oral communications.
To the extent any donations are processed through a third-party service provider, our donors’ information will only be used for purposes necessary to process the donation.