For most Christians
today, the question of how much to give their children is not really
a question at all: they just expect to leave everything they have to
their children. Many are starting to see the Biblical requirement
to be good stewards even as part of your estate and by effective estate
planning techniques, we are seeing many plan to leave significant assets
to the Lord’s work while still leaving much to their children and grand
children.
Most Christians today will leave significant estates to family members
who aren’t capable of handling it! Statistics Canada figures from 1999
show that over $1 Trillion will change hands from one generation to the
next over the next 20-30 years. That’s more than at any other time in
Canadian history. With that much in question think what could be accomplished
for eternal significance if every believer included the Lord’s work as part
of their estate.
Yet, we need to put the same care into passing on wealth to our children
as we do determining what ministries to include in our estate plans. For most
of us, we will be surprised to learn, that in fact it would not be wise to
leave large estates to many of our children. They are prepared to handle it!
Why is that?
Ecclesiastes 7:11-12 says "Wisdom is good with an inheritance: and by it
there is profit to them that see the sun. 12For wisdom is a defence, and money is
a defence: but the excellency of knowledge is, that wisdom giveth life to them that have it."
As you think about giving to your children, remember that financial assets
should not be passed on without first handing down a healthy portion of wisdom.
The financial wisdom that we will hand down to our children will to a large degree
to dependent on how well we have done at managing our own resources. So whatever
age your children are, start passing on the one most important inheritance you can:
the wisdom to handle the financial legacy you will lead them. Few things other than
your faith can have a greater impact on their lives!
Michael Nichols owns a wealth management business. He is available to give
biblically based seminars on estate planning and planned giving. If you would like
Michael to speak to your group please contact him directly at 519-624-4500 or
contact us.
Godfrey Davis, who wrote a biography about the Duke of Willington, said,
"I found an old account ledger that showed how the Duke spent his money. It was
a far better clue to what he thought was really important than the reading of his
letters or speeches."
How we handle money reveals much about the depth of our commitment to Christ.
That's why Jesus often talked about money. One-sixth of the gospels, including one
out of every three parables, touches on stewardship. Jesus wasn't a fundraiser. He dealt
with money matters because money matters. For some of us, though, it matters too much.
