Where There’s a Will…and say now, Where’s Yours?

Shamelessly copied from online friend Randy Nelson to benefit you and your heirs —

The earth is the Lord’s, and everything in it, the world, and all who live in it… Psalm 24:1 (NIV)

Our Biblical stewardship journey can be challenging and confusing no matter what assets we hold.

LIVING TRUST vs. WILL

A will is one of the single most important documents a person can have, yet it is estimated that 70% of adults in the U.S. do not have one.

Many may assume that they’re too young, or that they don’t possess the assets to necessitate a will. However, everyone over the age of 18 should make it a priority to have a will. In the absence of a will, your assets will be distributed according to state laws and the courts. But with a will in effect, your spouse, children, parents, close relatives, and favorite ministries, such as Asbury University, will become the beneficiaries of your estate.

It is important to note that a will is not a private document and is considered by law to be a public record.

To create your will, I encourage you to begin with prayer and allow God to lead you through the process. Take a deep breath; this is not as hard as you may think. The following are necessary steps needed to create your will:

1. Take inventory of your assets: everything from your home to your personal items — and don’t forget about digital assets! Asbury University offers a complimentary “Estate Planning Guide” that is helpful in working through this process. You may request a copy by clicking on the link at the bottom of this email or by contacting me directly at plannedgiving@asbury.edu.  
2. Choose your beneficiaries: decide what you want to distribute to your loved ones, church, and other favorite charities such as Asbury University. More information about naming Asbury University in your will can be found by clicking here. 
3. Select an executor: choose your person and notify them of your choice.
4. Decide on who you will appoint as guardian if you have children: this step is only necessary if you have minor children or have guardianship of grandchildren.
5. Be explicit: it’s important to be extremely specific about how your assets will be passed down so that your final wishes are carried out appropriately.
6. Create your Last Will and Testament. You can do it yourself through websites with state-approved templates or you can hire an estate attorney who will assist you throughout the process.
7. Sign and notarize your will. Two witnesses are required in most states, but there are some that may require more.
8. Put your will in a safe place. A fireproof safe is the best option. Some people opt to use a safe deposit box at a bank, but it can be difficult to access safe deposit boxes after an owner dies. Make sure you share a copy and the location of your will with your executor.

Finally, it is important that as life circumstances change, you review and update your will. This should happen periodically as needed, but it is recommended to do so every three to five years.

Creating your estate plan is not only wise, but the only way to control your legacy, protect your family, and gain peace of mind. You can feel confident that your final wishes have been explicitly stated and can therefore trust that those wishes will be executed exactly the way God has directed you.

—Amen?

Then what action steps will you take after reading all this today?