Estate Planning: A Biblical Perspective toward Family Restoration

 

This guest post is from Joy Lim, Regent Law 3L Estates student:

 

As my Wills, Trusts, and Estates course comes to an end, I can reflect on all the valuable information I have learned regarding thorough, effective estate planning.

Christianity teaches us to become good and faithful servants to Christ (Matthew 25:23). Protecting and providing after death is an obligation that God has entrusted us with, for every person has been given stewardship to manage and decide where their property goes. God clarifies in Job 41:11: “Everything under heaven belongs to me.”

The average American works around 90,000 hours in their life. Including other factors, this is approximately one-third of that person’s lifespan. One may work over 40 years accumulating assets, then spend around 20 years conserving during retirement. Despite all that work, if that person hasn’t taken half a day to contact an attorney and plan to distribute their assets, the final chapter of one’s life may be incomplete. In many cases, this chapter can become burdensome for family members, especially if no planning was done at all. Hebrews 9:16 and 17 set out the reality of estate planning: “For where a will is involved, the death of the one who made it must be established. For a will takes effect only at death, since it is not in force as long as the one who made it is alive.”

To begin your estate planning journey, contact an attorney. Every state has adopted different statutory law on the construction of wills and trusts, so an attorney who is competent to help navigate you through the law is essential. With a good plan, your property may be transferred as you desire. To make your initial consultation as thorough as possible, start by listing all your property and assets. Then, think about how you want your property to be transferred and research the internet on how property is transferred in your state to avoid accidental disinheritance or paying unnecessary taxes. The final thing to consider before your first consultation is your advance medical directives, which states your desired health care decisions if you are incapacitated or no longer able to make such decisions because you are ill.

Wise stewardship now offers family hope for later.