At Covenant Trust Company, we think everyone should have an estate plan. We are stewards of God’s gifts and we believe we should be responsible for those gifts in life and after death. Of course, estate planning isn’t simply about the things in our lives. Ultimately, it’s about the people in our lives. A will or revocable living trust isn’t just for our homes and our savings accounts: it’s for our families, our friends, and the causes and ministries we believe in and support.
Another way to think about this: ask yourself, “what do I want my money, investments, and assets to achieve after I pass?”
This isn’t the same as asking “what do I want to leave for my family?” or “how much do I want to donate to a charity?” It’s the difference between wanting to leave $20,000 to a child and wanting to help that child purchase a home. The question gets to the heart of legacy planning and asks: “what effect do I want my legacy to have?”
Asking yourself this question can help you set estate planning goals and make decisions for your will or revocable living trust. Viewing your estate as a tool to accomplish goals instead of something to divvy up can give you a better idea of how to use, grow, and pass along your investments and assets.
We believe estate planning isn’t about the things you own: it’s about supporting the people in your life and the causes you believe in. It’s about building for the future and leaving a lasting legacy. So give us a call and let us know: what do you want your legacy to be? What effect do you want it to have?