Giving Gifts That Matter
For all of history, humanity has been inspired by the desire to leave the next generation better off. The great men and women of the past worked diligently towards building today's society. We did not discover the latest technology, design the tallest skyscrapers, and travel into space overnight. It took time and the compounding work of many generations to reach those lofty goals.
When you reach the later stages of your life, a rush of financial decisions run toward you. Who will receive my possessions when I pass away? How much will I even have to pass down? These, and many other critical questions, are not so simple to answer. But encapsulating many of these ideas is one big question: how do I leave behind gifts that matter? What can I do to create the best opportunity for the next generation?
Just like the building of our society, the answer to these ideas cannot be decided overnight. Different family scenarios and a variety of other obstacles complicate these decisions. However, it is our duty to find the answer to best steward the resources God has given us.
The Danger of Wealth
When leaving behind wealth for the next generation, we must consider whether that wealth is helpful to them. The Bible tells us that wealth creates a tremendous burden on people. 1 Timothy 6:10 tells us, "For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs." To be clear, money itself is not bad, but the love of money creates serious problems in many people's lives.
In Luke 15, Jesus tells the parable of the prodigal son. In the story, the prodigal son demands his inheritance from his father and quickly squanders all the riches he received. Of course, the son eventually returns home to his father's loving embrace. However, the point remains that leaving behind riches to someone may not help them. In fact, it may even do more harm than good.
Even worse than pure irresponsibility, many people in our society, and sometimes even loved ones, struggle with dark addictions. In those cases, a gift from an inheritance could fuel the fire of their addiction, allowing them greater access to things that harm them. Gifts should be given for the benefit of those who receive them. If a gift could be harmful, it should be avoided. When leaving behind a legacy that honors God, you must protect your loved ones against the dangers that come from wealth.
Wolves In Sheep's Clothing
Another issue that can arise during estate planning is deciding what to give away to charity. Sadly, many charities in the world seek to take advantage of your resources and use them irresponsibly. In 2016, CBS News investigated the Wounded Warrior Project and found that it spent only 60% of donations helping American heroes, while comparable organizations spent upwards of 90% of their donations helping veterans. Even worse, the charity spent $26 million in 2014 on lavish conferences and meetings.
Goodwill, another beloved charity, got caught paying disabled workers 22 cents an hour while paying executives generous six-figure salaries, according to MSNBC. Sadly, even Christian charities are not immune to malpractice. According to the Athens Banner-Herald, Angel Food Ministries' founder, Pastor Joe Wingo, used millions of dollars of donations to buy expensive jewelry, luxurious cars, and beautiful houses. Wingo even went as far as using donations for a down payment on a private jet.
I do not share these stories to mock or diminish the good work that these charities have done (in fact, the Wounded Warrior Project has made significant strides towards honoring their donors by using a much greater proportion of their donations to help veterans), but as a cautionary tale about being careful about what charities and ministries you leave behind gifts for. Many ministries and charities begin with good and honest intentions, directing their supporters' money towards the important causes for which the donations are intended. But over time, the temptation of wealth can lure the organization away from its original vision until it is almost unrecognizable.
Fortunately, there are some useful tools out there to help givers gauge the effectiveness and efficiency of the charities and ministries they support. Charity Watch and Ministry Watch independently ensure that organizations are responsible and accountable regarding the donations they receive, and can help you decide which charities and ministries will best steward any money you leave for them.
By God’s grace, over the past 140 years, The Christian and Missionary Alliance (C&MA) has stayed true to its All of Jesus for All the World vision by responsibly stewarding the resources donors generously give. More than 80 percent of its international workers are in places with little or no access to the gospel. In addition, 84 percent of gifts made to the Great Commission Fund go directly to The Alliance’s gospel-advancing ministries in the United States and throughout the world, with the other 16 percent being used to steward those funds for maximum impact. With continued passion for its mission, The C&MA has avoided the pitfalls that lead to irresponsibility with its donations.
Your Gifts Matter
Ultimately, one of the most important things to remember is that you should carefully plan your estate because your gifts matter. Whether you have hundreds or millions of dollars, one car or ten, a small home or a giant mansion, what you leave behind can have lasting—even eternal—impact.
The money and possessions God has entrusted to you are, simply put, tools, and a well-crafted estate plan enables you to wield those tools with greater effectiveness and intentionality. If you would like help along the way, Orchard Alliance's Gift and Estate Design team can assist you through the entire process to ensure that your estate accounts for any challenging scenarios in your life and that it is designed in the way you believe best honors the Lord.
Faith and Finance Perspective
God loves His children and often blesses us with gifts we do not deserve. If we recognize this, we realize that God owns it all, including our estate. We must honor Him with those resources and avoid giving gifts that create harm or giving gifts to those who will squander them.
"One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much. If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? And if you have not been faithful in that which is another's who will give you that which is your own?" – Luke 16:10-12
Ensure that faithfulness remains present for both you and those you give to. When you trust in and honor God's plans for your finances, you can leave a legacy that will show Jesus’ great love to everyone it touches.