Generosity Today 2023, Issue 3

GENEROSITY TODAY

Joyful Giving, Fully Living

Life Story: Bruce & Barb While I’m Away

Paul’s Approach to Planning

Leaving Your IRA to Ministry

“They Meant Well”

Dear Friend,

I, like every parent, find myself very concerned for my children. Worrying about their financial condition continues, even after they reach adulthood. I’m concerned about their livelihood and financial stability. Deep down inside, however, I know that what they need most from me doesn’t relate to finances.

I recently met with a couple preparing for a family meeting with their children. They planned to communicate how God has blessed them, their commitment to generosity, what they appreciate most about their children, and their hopes and dreams for the future. They also intended to discuss openly their estate distribution plans, including the transfer of a business.

Meetings like this are an extremely valuable gift to children and future generations! They provide families with the opportunity to communicate the importance of their values, including faithfulness and stewardship, in a way that will extend well beyond their lifetimes.

That’s what I’m most concerned about passing to my children: a legacy of faithfulness, stewardship, and trust in God – and I want to help others do the same!

If there’s any way we can help you to consider how to communicate your plans to your children, we would love to support you.

James Bakke, J.D. Executive Director

Joyful Giving, Fully Living

Life Story: Bruce & Barb

It was as children that Bruce and Barb first learned the importance of giving back to the Lord.

“It was always expected that we gave a certain percentage to the church,” Barb remembers.

“That was modeled to both of us by our parents.”

“My folks always told me to exceed the minimum and look for greater opportunities for generosity,” says Bruce.

When Bruce’s parents passed away in 2012, he was left to fulfill their charitable wishes as the executor of their estate.

“They dictated that a percentage of their assets would go towards Kingdom causes,” explains Bruce.

He contemplated starting a foundation but found it to be complex and burdensome. Looking for a simpler solution, Bruce reached out to Barnabas Foundation.

By star ting a Stewards Fund (donor-advised fund) funded by his parents’ estate, Bruce and his siblings were able to fulfill their parents’ charitable wishes and ensure that their legacy would continue well into the future.

“Barnabas Foundation took the burden out of the process and handled the complex work,” says Bruce. “We’re so thrilled we did it.”

In 2016, Bruce and Barb decided to start their own Stewards Fund account. “We put appreciated assets into our account, which gives us a great return on our invested assets,” says Bruce. “We can’t speak highly enough about the people we interact with.”

However, for Bruce and Barb, their Stewards Fund is not about the tax benefits. “It helps us with the mission of being eternally minded and working the mechanics of a generous heart,” explains Bruce. “We know that when we go to be with the Lord one day, we will have made a positive impact on his Kingdom.”

“We’ve come to understand that material things do not bring us fulfillment,” Bruce continues. “They can provide some levels of comfort, but they’re not going to keep you healthy and happy. If there’s a need, we want to exceed what that need is in giving.”

Bruce and Barb pray their children will also catch their passion for generosity.

“We try to model the joy of giving to our children and grandchildren,” says Barb. “It’s fun to help somebody, whether it is with your time, making a gift or lending a listening ear. It’s a joyful thing, and it’s not out of obligation. God has provided us with these resources so that we can share them with others.”

“We want to use our resources to benefit the Kingdom,” concludes Bruce. “We are an instrument of His grace, and that is the ultimate gift. We fully live when we freely give.”

“We try to model the joy of giving to our children and grandchildren.” - Bruce and Barb

But as for you, continue in what you have learned and have become convinced of, because you know those from whom you learned it, and how from infancy you have known the holy Scriptures, which are able to make you wise for salvation through faith in Christ Jesus.

While I’m Away

What Paul Teaches Us About Planning

Every parent understands the urgency, anxiety and struggle of preparing children for their absence. Leaving them with a sitter for the very first time. Sending them off to college. Giving them away at the altar. Prepping them to inherit a family business.

Whether they are five months old or 55 years old, it doesn’t seem to matter. We all worry about how our loved ones will function when we’re not around.

The Apostle Paul understood this struggle, too. Writing from a cold, dark prison, he knew his time on earth was limited. His second letter to Timothy (recorded in the New Testament), reads like an urgent “while I’m away” to-do list.

“You then, my son, be strong in the grace that is in Christ Jesus...”

“…Endure hardship with us like a good soldier…”

“…flee from the evil desires of youth, and pursue righteousness, faith, love and peace…”

His detailed instructions went on and on.

From Paul’s example, we glean a helpful strategy for finding peace about our family’s future. The long and short of it? Write it down, then trust.

1. Write down your instructions. Paul left no room for doubt about how he wanted to be remembered and how his heirs should carry on his life’s work. Through Timothy, he provided detailed instructions to the churches throughout Asia and for generations of believers impacted by their ministry. Similarly, one of the greatest gifts we can offer is detailed instructions about what to do when we’re gone. Our documented desires remove ambiguity, ease anxiety, reduce strife and ensure our God-given resources continue to be stewarded well.

2. Trust the memories. Paul understood a single letter could not compare to the lessons he’d already taught Timothy. “What you heard from me, keep as the pattern of sound teaching, with faith and love in Christ Jesus.”

(2 Tim. 1:13) Likewise, your most important instructions cannot be confined to a letter or legal document. The truths you’ve spoken and modeled over the years will have a lasting influence.

3. Trust the Scriptures. Paul believed God’s Word would continue to equip Timothy and the other believers, regardless of what challenges they’d face. “All Scripture is God-breathed and is useful for teaching, rebuking, correcting and training in righteousness, so that the man of God may be thoroughly equipped for every good work.” (2 Tim. 3: 16-17) We, too, can be sure the “living and active” (Hebrews 4:12) scriptures we’ve taught our children will continue to mold their hearts and minds.

4. Trust the Spirit. Most importantly, Paul trusted that it would be the Holy Spirit, not He, who would ultimately guide, empower and protect his loved ones when he was gone. “For this reason I remind you to fan into flame the gift of God, which is in you through the laying on of my hands. For God did not give us a spirit of timidity, but a spirit of power, of love and of self-discipline.” (2 Tim. 1:6-7). The ever-present Spirit of God will guide your family, too.

Preparing our loved ones to persevere in an uncertain future is unnerving, but we don’t have to be afraid.

Focus on what’s within your power to do – then surrender the rest to the Lord. In other words: write down your instructions, then trust.

Trust your lifetime of lessons will continue to teach.

Trust the living and powerful Word of God will guide their path.

Trust the Holy Spirit to direct, embolden and shape the lives of those who come behind you.

Like Paul, we can have peace knowing God always carries our loved ones close — now and while we’re away.

“THEY MEANT WELL”

Leaving Your IRA to Ministry

We all know the hidden meaning behind this common pardon for others. “Well, you know… they meant well.”

Translation: Their intentions were good, but their judgment was poor. Had they known better, they could have done much better.

Unfortunately, such can be said for many well-intentioned Christians who tried to balance family provisions with charitable giving in their estate planning.

People often leave their IRA, 401(k) or other retirement funds to family, and then they give entirely different assets from their will to their church or favorite ministries. In most cases, this is the exact opposite of what’s best.

When you leave your retirement funds to family, you create a taxable event. This gift will be treated as income when the funds are withdrawn, and your loved ones will be taxed accordingly.

On the other hand, by giving those funds directly to ministry, you can eliminate the tax bill and provide meaningful support for the causes that mean so much to you. Then, you can give more tax-efficient gifts from your will to provide for the needs of your loved ones.

How do you give retirement funds to ministry? It’s really quite simple.

Option A: Direct Designation

Designate your favorite ministry as a beneficiary on the forms provided by your account manager, specifying the amount you want to give.

Option B: Give Through Barnabas Foundation

OR

Giving retirement funds to multiple charities?

Consider naming Barnabas Foundation as the charitable beneficiary. Then, you provide Barnabas Foundation with a list of your favorite ministries (and the percentage you want each to receive).

By leaving your retirement to ministry, you’ll create a win-win situation for your loved ones and the causes that mean so much to you.

Your intentions will be good, and your execution will be even better.

Save the Drama!

Giving Peace and Clarity through a Family Meeting

When the details of your will are read out loud, what will your loved ones say?

Without a doubt, your family will discuss your priorities and intentions. The only question is whether you’ll be present to steer the conversation.

By hosting a family meeting, you can lovingly clarify the passions and logic that have guided your planning process.

Through healthy dialogue about your values, goals and the specific plans included in your estate plan, you offer loved ones a profound and lasting gift. You save them from the chaos, division, heartache and complications that often surface in ambiguity.

A family meeting might involve the help of a trusted advisor, attorney or family friend as a conversation facilitator. However, it may be as simple as sitting down with your adult children and/or grandchildren for an open, honest conversation.

Regardless of how or when it happens, a family meeting clears the path for your wishes to be carried out as efficiently and lovingly as possible. By talking to your family now, you’ll give clarity and peace to the people you love the most.

WHAT'S GOT YOU STUCK?

The Roadmap to Your Completed Will

BA RNABAS ASK

Q: Do I really need a will?

A: Yes! Some people think they don’t need a will because they don’t have “enough” or because they assume everything will automatically go to their next of kin. However, when you don’t have a plan, your state will execute its plan for you – and this may not match up with your values and expectations.

By having a will, you ensure your God-given resources continue to be managed well. You’ll document your instructions and priorities, speaking volumes to your family and others about what mattered most to you.

Having a will may also help you to…

• Give to your church and other favorite ministries in substantial ways.

• Minimize family disputes.

• Provide for loved ones with special needs.

• Transfer a family farm or business.

• Avoid probate expenses and delay.

August 23, 2023, 11 a.m. (Central)

When it comes to creating your will, there’s no one-size-fits-all solution. During this free, online event, Barnabas Foundation’s Adam Lopez, J.D., will discuss how you can move forward on an estate plan that honors God, provides for your family and supports the causes close to your heart.