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Estate Planning: Making Wise Decisions for Our Legacy

Title: Estate Planning: Making Wise Decisions for Our Legacy

Opening:

As we age, we begin to think more about what we will leave behind for our loved ones. It’s natural to want to ensure that our legacy is one of love, generosity, and sound decision making. In today’s lesson, we will discuss estate planning and how being a good steward can help us leave a lasting impact on future generations.

Body:

1. What is estate planning?

Estate planning is the process of making decisions about how to manage and distribute your assets after you pass away. It involves creating a will, establishing a trust, and designating beneficiaries for your retirement accounts and life insurance policies.

2. Why is estate planning important?

By planning your estate, you can ensure that your wishes are carried out after your death. It also allows you to minimize the taxes and fees that your heirs may face when settling your affairs. Integrating your values into your estate plan can be a reflection of your faith and a way to provide for future generations.

3. Steps to take in estate planning

To begin the process of estate planning consider basic steps such as listing assets, accounting for debts and obligations, drafting a will, and designating beneficiaries for retirement accounts, life insurance policies and other assets. An experienced attorney in estate planning should be able to guide you through the process.

4. Being a good steward of our resources

God calls us to be good stewards of our resources. We are called to use them wisely for the benefit of others and for His glory. Estate Planning can be part of this process. It involves the careful evaluation and management of our resources during our lifetimes and how they are distributed after we pass away. By creating a legacy of generosity and morality, we can positively impact future generations.

Closing:

In conclusion, estate planning is an important part of being a good steward. It allows us to provide for our loved ones and positively impact future generations. By incorporating our values and faith into our planning, we can leave a legacy that reflects our desire to love and serve those who come after us. Let us prayerfully consider how we can use our resources wisely, and leave a lasting impact that honors God.

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Possible Viewpont: Evangelical Christian

Scriptures

1 Timothy 5:8
Proverbs 13:22
Proverbs 19:14
Proverbs 27:23-24
Ecclesiastes 2:18-19
Mark 12:41-44
Luke 12:13-21
Luke 16:1-14
1 Corinthians 4:2
2 Corinthians 9:6-7

Questions for Lesson

1. How does being a good steward align with Evangelical Christian beliefs and values?
2. In what ways have you personally practiced being a good steward over the years?
3. From a biblical perspective, what are some of the benefits of being a good steward?
4. What are some practical steps that seniors can take to ensure they are being good stewards of their estate and legacy?
5. According to the lesson, why is it important to involve family members and loved ones in estate planning?
6. What does the Bible teach about generosity and how can seniors apply this to their estate planning decisions?

Worship Music for Lesson

1) “In Christ Alone” by Keith and Kristyn Getty: This song speaks of placing our trust in Christ alone as our foundation and source of hope for the future.

2) “It Is Well With My Soul” by Horatio G. Spafford: This classic hymn acknowledges the hardships and trials of this life, but ultimately affirms our confidence in God’s sovereignty and power to sustain us.

3) “Blessed Assurance” by Fanny Crosby: Another classic hymn, this song emphasizes the security and assurance we have in Christ, even as we prepare for the end of this life.

4) “I Can Only Imagine” by MercyMe: This song imagines the glorious moment when we meet Jesus face to face and are able to see our loved ones who have gone before us. It encourages us to think about the legacy we want to leave and the impact we want to have on others.

Object Lesson

Props needed:
– Picture frames (2-3)
– Family heirloom (optional)
– Paper and pen
– Retirement savings plan (optional)

Steps:

1. Begin by introducing the concept of estate planning and being a good steward. Explain that like in all aspects of life, it is important to make wise decisions for our legacy. As seniors, it is especially important to consider how we can best leave a lasting impact on our loved ones and community.

2. Take out the picture frames and ask the audience to imagine for a moment that these frames represent their legacy. These are the things that they will be remembered for after they are gone. Ask the audience what they would like to see in these frames – a happy family, successful career, philanthropic efforts, etc.

3. Transition into setting the stage for estate planning by pointing to one of the empty frames and saying, “But what if we don’t plan for these things? What if we leave this frame empty?” Ask the audience how they would feel if their legacy wasn’t what they had hoped for, or if they left their loved ones unprepared.

4. Bring out a family heirloom, or any item that represents something valuable to them, and say that this is an important part of their legacy as well. Talk about how it represents their history and the important role it plays in their family’s story.

5. Shift the focus to the practicalities of estate planning by explaining that it involves creating documents that outline how their assets will be distributed, including any sentimental items they want to pass down. Encourage them to write down a list of these items and who they would like to give them to.

6. If relevant, bring up the topic of retirement savings and how planning for it now can ensure that they have enough money to provide for themselves as they age, as well as for their loved ones after they are gone.

7. End the illustration by emphasizing the importance of being a good steward and making wise decisions for their legacy. Encourage them to take action and plan for their future by talking to a financial planner or estate planning attorney.

Presentation tip: Use the empty picture frame as a visual aid throughout the illustration, referring back to it frequently to reinforce the importance of planning for a meaningful legacy.

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