We have all heard the expression, “You can’t take it with you” So within a mission context, and with a desire to be a good steward of all that God has entrusted to us, how do we respond to that statement?
Mission activity has long been funded from legacies and distributions from the estates of Christian people. Besides providing for family upon their death, many have generously given to Christian charities involved in mission and evangelism, responding as a faithful steward.
Pause … and ask yourself the question, “If I was to die tomorrow, what would happen to my assets?”
• Your Will should be prepared professionally, but ensure it encapsulates your wishes, not those of your lawyer.
• Build in flexibility, consider the options, (e.g. a set sum legacy, a percentage share of the estate value, etc.)
• If you have a Will, review it to ensure it reflects any changing wishes or situations.
• If your wishes have changed, seek advice whether a new Will is required or a Codicil will suffice.
In the Bible, those who give generously and cheerfully are commended by God. Both through church offerings and from individual donations, there continues to be faithful stewardship and solid financial support of GC3’s mission partners.
GCiM handles funds in a trust capacity on behalf of donors so we are unable to provide tax credit receipts for such donations.
• The funds donated to GC Assist for our purposes in NZ do qualify for tax credit receipts.
• Within certain income limits, you are therefore able to get a third of your GC Assist donation refunded by Inland Revenue.This regime is particularly attractive when donations are made during a lifetime rather than via a legacy after death.
• You are able to appreciate the benefits to the charity of your choice as well as get a refund of one third of the amount from Inland Revenue!
Your Family Trust
With the introduction of Government asset testing regimes, many people have formed family trusts to protect the erosion of asset values. The net worth of these people now sits in their trust where the opportunity for faithful stewardship exists.
During a lifetime, decisions can be made to ensure that distributions of trust income and capital are made to Christian Charities.
• If you wish that similar distributions continue after your death, you are wise to prepare a Memorandum of Wishes. While not legally binding on surviving trustees, this document signals your desire for discretionary Christian Charity distributions to continue.
We want to provide you with the opportunity to invest in the future of mission. GC3 has a long proud history of enabling individuals and churches to do just that. We are happy to partner with you and would welcome any enquiry you have in regard to how you can do that effectively and efficiently. Feel free to contact me;