Planning wisely today, providing for tomorrow, and supporting the Lord’s work for generations to come.
As Christians, we recognize that everything we possess ultimately belongs to the Lord. Our homes, savings, investments, and other resources are blessings entrusted to our care. While we are called to be faithful stewards throughout our lives, thoughtful estate planning provides an opportunity to extend that stewardship beyond our lifetime.
Estate planning is not simply about distributing our possessions. It is about making wise, prayerful decisions that reflect our faith, provide for those we love, and potentially support the continuing work of the gospel.
A Biblical Perspective on Estate Planning
The Scriptures provide valuable principles concerning stewardship, planning, and caring for others.
“Moreover it is required in stewards, that a man be found faithful.” — 1 Corinthians 4:2 (KJV)
Faithful stewardship involves wisely managing what God has entrusted to us. This responsibility extends to considering how our possessions will be distributed when the Lord calls us home.
Proverbs 13:22 reminds us that “A good man leaveth an inheritance to his children’s children.” This verse highlights the value of considering future generations and the importance of providing wisely for our families.
We are also reminded in 1 Timothy 6:17–19 that our confidence should not rest in uncertain riches, but in the living God, and that we should be “rich in good works, ready to distribute, willing to communicate.”
These principles encourage us to consider not only what we leave behind, but also how our resources might continue to be used for the Lord’s glory.
Why Is Estate Planning Important?
A carefully prepared estate plan can provide peace of mind and practical benefits for those we leave behind. It can help to:
- Provide for loved ones: Ensure that family members and others for whom we have responsibilities are appropriately considered.
- Clearly communicate our wishes: Reduce uncertainty and potential difficulties for family members and executors.
- Exercise wise stewardship: Make informed decisions now concerning the distribution of assets and potential tax implications when we are gone.
- Support the Lord’s work: Consider leaving a charitable gift that will continue to advance the gospel and support Christian ministry.
Leaving a Lasting Legacy Through Gospel Trust Canada
For Christians who have faithfully supported the Lord’s work throughout their lives, estate planning provides an opportunity to continue that support for future generations.
By including Gospel Trust Canada in your estate plan, you may be able to direct a portion of your estate toward supporting the Lord’s servants and the ongoing work of the gospel both in Canada and around the world.
A charitable gift through your estate, often referred to as a legacy gift or charitable bequest, can be structured in several ways, including a specific dollar amount, a percentage of your estate, or a portion of the residue remaining after other obligations and gifts have been fulfilled.
Such a gift, whether large or small, can be a meaningful expression of Christian stewardship and a lasting investment in the Lord’s work.
Are There Tax Benefits to Charitable Giving Through an Estate?
The Canada Revenue Agency (CRA) recognizes charitable donations made through an estate and provides potential tax benefits when gifts are made to eligible registered charities.
Depending on the circumstances, charitable donations made by an estate may qualify for donation tax credits that can be applied against estate income or, where certain conditions are satisfied, against income reported on the deceased person’s final tax return or the preceding year’s return.
These provisions may help reduce the overall tax burden and allow a greater portion of an estate to be directed toward the purposes the individual valued.
Because estate and taxation circumstances differ, it is important to obtain advice from a qualified estate lawyer, accountant, or financial advisor when considering a charitable gift.
Planning Today, Impacting Tomorrow
Estate planning is an act of thoughtful preparation. It provides an opportunity to care for our families, honour our responsibilities, and consider how we might continue to support the Lord’s work.
The words of our Lord Jesus in Matthew 6:20 remind us:
“But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal.”
While our earthly possessions are temporary, the spiritual purposes for which they are used can have eternal significance.
As you consider your estate plans, we encourage you to prayerfully reflect on the blessings the Lord has entrusted to you and how they might continue to be used for His glory.
Would you consider including Gospel Trust Canada in your estate planning?
We invite you to contact Gospel Trust Canada to learn more about how a legacy gift may help support the Lord’s work for generations to come.
This article is provided for general information and encouragement and is not intended as legal, financial, or tax advice. Please consult qualified professional advisors when preparing or updating your estate plan.