As Christians, we know that Scripture is our highest authority and applies to all areas of life. So here are four Biblical Principles of Leaving an Inheritance...
Principle: God Owns Everything
The foundation on which a Christian’s estate plan is built is the recognition that God is the owner of all. He owns everything...even us.
It’s our job to take the assets entrusted to us and use them wisely. If we do not fully grasp this, then it makes the proper exercise of stewardship impossible. It will even make leaving an estate or inheritance, grievous to us because we see it as our money and our estate left for others to enjoy.
Psalms 24:1-2 (ESV): The earth is the Lord's and the fullness thereof, the world and those who dwell therein, for he has founded it upon the seas and established it upon the rivers.
Haggai 2:8 (ESV): The silver is mine, and the gold is mine, declares the Lord of hosts.
Some of you might be thinking, but I’m the one who worked to earn money. So this money and estate are mine.
Deuteronomy 8:17-18 (ESV): Beware lest you say in your heart, 'My power and the might of my hand have gotten me this wealth.' You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day.We must acknowledge that we are not the owners but only stewards, caretakers, or money managers. If God is the owner of all, we as stewards have a responsibility to find His plan for the distribution of the property He has entrusted to us.
It’s our job to take the assets entrusted to us and use them wisely. If we do not fully grasp this, then it makes the proper exercise of stewardship impossible. It will even make leaving an estate or inheritance, grievous to us because we see it as our money and our estate left for others to enjoy.
Ecclesiastes 2:20–21 (ESV): So I turned about and gave my heart up to despair over all the toil of my labors under the sun, because sometimes a person who has toiled with wisdom and knowledge and skill must leave everything to be enjoyed by someone who did not toil for it. This also is vanity and a great evil.
Principle: Care for Those Dependent on Us
We have a responsibility to those financially dependent on us.
For me when my children were younger, my wife and I had people in our estate plan to care for our children if we died. And the people we chose shared our faith and values so we felt we could trust them with our children.
1 Timothy 5:8 (ESV): But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.We must consider how we can provide for those who are left behind especially those who have been dependent on us such as...
- A Surviving spouse
- Minor Children
- Those with Disabilities
For me when my children were younger, my wife and I had people in our estate plan to care for our children if we died. And the people we chose shared our faith and values so we felt we could trust them with our children.
Principle: Love
Love must be the basis of all giving. God is the ultimate Giver. “God so loved the world that He GAVE His only Son . . .” So love must be our standard when it comes to giving.
1 Corinthians 13:3 (ESV): If I give away all I have, and if I deliver up my body to be burned, but have not love, I gain nothing.
Proverbs 13:22a (ESV): A good man leaves an inheritance to his children’s childrenAll people should love and desire to leave a good heritage for their children, and provide for the material and moral needs of their descendants. Proverbs also emphasizes the need for moral training without minimizing the physical needs of family life.
Principle: People over Dollars
People are more important than dollars. Many people are often more concerned about avoiding probate or taxes than they are about the effect of dollars upon beneficiaries.
The parable of the prodigal son illustrates how the distribution of wealth can change a lifestyle. When the prodigal son got his inheritance early, he went to a far country and squandered it with wild living.
So we must consider when our children and beneficiaries are ready and able to handle an inheritance. My estate planner asked my wife and I at what age would we want our children to receive their inheritance. Could they handle it at age 18, 25, or 30?
We should also think wisely about the beneficiaries and how we leave our estates. Household goods and personal effects, guardianship of minor children, personal representatives of the estate, and the management of property are areas where families often have problems. A lot can be done to reduce the potential of conflicts between the beneficiaries of our estates.
But most importantly, an inheritance is not limited to money and material things. If we're not able to leave anything, let us leave a legacy of faith to our children and family.
God has called us to direct our children and our households in the ways of God. We must teach our children and families about Jesus Christ and the Gospel. We must tell them how Jesus died for their sins and rose from the dead and pray that they will place their faith in Jesus Christ.
Passing on our faith so that it becomes their faith will last them long after their material inheritance runs out. Our heavenly inheritance will last for eternity.
The parable of the prodigal son illustrates how the distribution of wealth can change a lifestyle. When the prodigal son got his inheritance early, he went to a far country and squandered it with wild living.
So we must consider when our children and beneficiaries are ready and able to handle an inheritance. My estate planner asked my wife and I at what age would we want our children to receive their inheritance. Could they handle it at age 18, 25, or 30?
We should also think wisely about the beneficiaries and how we leave our estates. Household goods and personal effects, guardianship of minor children, personal representatives of the estate, and the management of property are areas where families often have problems. A lot can be done to reduce the potential of conflicts between the beneficiaries of our estates.
But most importantly, an inheritance is not limited to money and material things. If we're not able to leave anything, let us leave a legacy of faith to our children and family.
God has called us to direct our children and our households in the ways of God. We must teach our children and families about Jesus Christ and the Gospel. We must tell them how Jesus died for their sins and rose from the dead and pray that they will place their faith in Jesus Christ.
Passing on our faith so that it becomes their faith will last them long after their material inheritance runs out. Our heavenly inheritance will last for eternity.
1 Peter 1:3–4 (ESV): Blessed be the God and Father of our Lord Jesus Christ! According to his great mercy, he has caused us to be born again to a living hope through the resurrection of Jesus Christ from the dead, to an inheritance that is imperishable, undefiled, and unfading, kept in heaven for youPlease consider these biblical principles when planning your estate and leaving an inheritance.
Comments