Protect Your Estate With Wills and Trusts

We ought to be a blessing to others while we are here on earth. But, our work there is not over. When we are gone, we should leave our mark behind as well. 2 Corinthians 12:14 tells us to look after our offspring. But to include future generations, Proverbs takes things one step further. “A good man leaves an inheritance for his children’s children, but a sinner’s wealth is stored up for the righteous.” Proverbs 13:22 reads (NIV) You may find more details about this at Israel & Gerity, PLLC-Bankruptcy Attorney.

For us, it is important to prepare ahead. Isaiah ordered him to get his house in order when King Hezekiah fell ill, because he was going to die. In 2 Kings 20:1 you may read this.

Death is imminent for all of us, whether sooner or later. But we should, for the sake of our families, be prepared. We should set up wills and trusts that divide our properties and record our last requests instead of asking the state courts to determine which family member should be entitled to our land.

A revocable living trust is a brilliant alternative. But let me put out this disclaimer first. I’m not an attorney. I’m just giving a jump start for you. To find out how this would better suit the needs of your family, please seek legal advice.

A revocable living trust is similar to a will because, upon your death, it sets out how you would like your estate to be dispersed. The added advantage, however, is that a trust prevents probate. The courts appoint a conservator to administer your properties when your estate winds up in probate. All is being made public. The mechanism is long and costly.

To make sure the tradition continues, wills and trusts are imperative. Our heirs will not be psychologically or emotionally equipped to manage the immediate riches that our death creates for them. An inheritance quickly acquired at the beginning will not be blessed at the end,”An inheritance quickly gained at the beginning will not be blessed at the end” (NIV)

Some members of the family can cause greed to take hold of them, resulting in months of mismanagement and squandering of the inheritance. A confidence helps us to nominate trustworthy administrators who will make sure the tradition continues. In Galatians 4:1-2, Paul says, “What I am saying is that as long as the heir is a child, he is no different from a slave, although he owns the whole estate. He is subject to guardians and trustees until the time set by his father” (NIV)