At Covenant Trust Company, we think everyone should have an estate plan. As stewards of gifts from God, we believe it is important to be responsible for those gifts not just in life but in death as well.
However, estate planning isn’t simply about money and all the things we own. Ultimately, estate planning is about the people in our lives. It’s about the ministries and causes God calls us to support. A will or revocable living trust isn’t for our homes and our savings accounts: it’s for our families, our friends, and the causes and ministries we believe in.
Think about it this way: what do you want your money, investments, and other assets to achieve after you pass? This isn’t the same thing as trying to figure out what to give family members or deciding how much money to leave to charities. It’s the difference between wanting to leave $15,000 to a grandchild and wanting to help pay for that grandchild’s college tuition. The question gets to the heart of legacy planning and asks: “what effect do I want my legacy to have?”
Asking yourself this question can help you set estate planning goals and make decisions for your will or revocable living trust. Viewing your estate as a tool to accomplish goals instead of something to divvy up can give you a better idea of how to use, grow, and pass along your investments and assets.
We believe estate planning isn’t about the things you own: it’s about supporting the people in your life and the causes you believe in. It’s about building for the future and leaving a lasting legacy. So let us know: what do you want your legacy to be? What effect do you want it to have?
Covenant Trust Company is a financial services company owned by the Evangelical Covenant Church and its affiliates. Our services are available to anyone in need of asset management, retirement planning, legacy planning, gift planning, or trust services. In addition, we seek opportunities to encourage and promote healthy financial habits, and keep a personal finance blog at www.covtrustblog.com.