Now that you have a basic idea of what you need to do to create your Will, here are some additional resources to help answer any questions you may have:
- Add "Ministry" to your family: Some families treat ministry organizations like an additional child. For example, if a family has three children, they might add a fourth chhild named "Ministry" and divide the assets in their Will into four equal parts. Each of their children would receive 25%, and the remaining 25% would be divided among their favorite ministry organizations.
- Tithe on your Estate: Other families commit a 10% tithe of their estate to the ministry organizations they love, dividing the remaining 90% among their heirs.
- Add a "Cap" to your Will: Others prayerfully decide to "cap" their children's inheritance, leaving the rest of their assets to ministry. This approach is used when the parents want to provide a modest gift to bless their children and eliminate concerns of creating dependence or giving too much too soon.
- Update an Existing Will: An attorney can add, delete or change an item in your Will with an additional statement called a "codicil." Here's an example: "I give, devise, and bequeath twenty-five percent (25%) of my residuary estate to [church or ministry name] whose Tax Number is [tax ID] and address is [city, state, zip code]." Like a Will, a codicil must be dated, signed and witnessed.
If you are creating a legacy gift to the Mission, you may need our Federal Tax ID (EIN) number: 86-6057771. See the proper language to put the Mission in your estate plans under Bequest Language.
No. There is no legal requirement that a Will be drawn up by a lawyer. Most people can use quality, fill-in-the-blank legal documents to take care of basic concerns such as leaving their property to loved ones and naming a guardian for young children.However, there are a number of situations where it would be highly recommended to work with a lawyer instead of an Online Will:
- If you have significant assets.
- If you have a special needs, disabled or dependent adult child.
- If you've been divorced or remarried.
- If you think one of your heirs might contest your Will.
- If you own a small business.
- If you are concerned about guardianship issues for minor children.
- If you're raising grandchildren or stepchildren.
- If you or your spouse are citizens of another country.
- If you have questions about your Will or the Online form doesn't address your situation.
There are many types of legacy gifts and some are more complicated than others! For most people, gifts in a Will or Trust or designating an organization as the beneficiary of a life insurance policy or retirement account are the cheapest and easiest ways to make a lasting difference.
If you have special circumstances like selling a business, unexpected assets, or a significant amount of wealth, a specialized gift type might help you give to the causes you care about while relieving a significant tax burden.
Financial planners provide professional advice by helping you compile your assets and plan for your financial future. If you do not have a financial planner, we would be happy to provide recommendations for local professionals that fit your circumstances.
If you decide to use a lawyer to create or update your Will—or review your Online Will—you'll want to find an attorney who shares your Christian values and is knowledgeable in estate planning. There are 3 sources you can check for a referral to a trusted Christian estate planning attorney:
- Contact Us: You can contact our office for a referral.
- Christian Legal Society: You can go online for a referral from the Christian Legal Society, a national network of approximately 3,000 legal professionals committed to loving and serving Jesus Christ in the practice of law.
- Your Pastor: Your Pastor is probably connected to a wide network of people, which may include a Christian estate planning attorney. Even if he doesn't know a Christian attorney, he can ask others for a trusted referral because of his position.
I already have a gift to the Mission planned in my Will or estate. Do you need to know the details about it?
While you don't have to inform us of your legacy gift ahead of time, letting us know about it does help us plan better for the future, show you our appreciation, and share the stories of lives that are being transformed by gifts just like yours.
If you do want to inform us of your legacy gift plans, simply Contact Us.
P.O. Box 6708 Phoenix, AZ 85005