Q&A – Gifts in a Will

Including nonprofit organizations, like Wedgwood, in your will is an opportunity to create a lasting legacy that can transform lives. We know that creating, writing, and updating your will can seem like a daunting task. We, along with the Barnabas Foundation, have answered some frequently asked questions about leaving gifts in your will. Through our partnership with Barnabas Foundation, you have access to complimentary will planning services with someone who understands tax-wise charitable planning from a biblical perspective. They will review your will and make important, God-honoring decisions in an atomsphere of complete confidence and trust.

Q: What are some considerations I should keep in mind as I’m choosing a legal guardian for my minor child(ren)?

A: While no one could possibly care for your children like you, it’s crucial you choose a trustworthy guardian to provide for your children’s long-term spiritual, emotional and physical needs in the unlikely event you cannot. As you move through this difficult process, here are a few questions about potential candidates to guide your thoughts and conversations.

• Do they share your Christian faith? Do their decisions and behaviors reflect an authentic commitment to living a Christ-centered life?
• Do they foster an atmosphere within their home where your child(ren) will thrive?
• Are they committed to the responsibility of raising your child(ren) to adulthood?

While many choose to select a guardian from their immediate family, others select a close friend who is a better fit because of their values, lifestyle or circumstances.

The most important thing is to choose someone – regardless of their relation to you – who will provide your child(dren) a safe, healthy, faith-filled environment where they can grow into their full, God-given potential.

Take the next step by requesting your free copy of “Who Will Care for Your Children? 6 Considerations for Naming a Guardian.” Call (616) 942-2392 or email advancement@wedgwood.org.

Q: We want to be fair when dividing our estate, but one of our kids needs more help than the others. How should we approach this?

A: Dividing an estate among children is a complex issue – and there is no one-size-fits-all solution. An estate plan based on equality often leads to results that are not helpful, and in some cases, does more harm than good. We recommend you walk through this decision with a trusted advisor to help you find a solution that “fits” your circumstances and goals. They will help you answer questions like…

• How can we structure our estate plan to support our children’s needs and encourage their personal growth?
• Should each of our children receive their inheritance in a lump sum, or would they benefit from an annual income stream instead?
• Who is best suited to become the next steward of our God-given resources?

​Through Wedgwood’s partnership with Barnabas Foundation, you can have a complimentary, confidential conversation with a trusted planner who shares your Christian values. To learn more, call Gary at (616) 831-5623 or graterink@wedgwood.org.

Q: Who should I name as my personal representative in my estate plan?

A: A personal representative (also known as an “executor”) is the person you’ve named in your will to carry out your instructions. They may also…

• Collect and maintain the property until your estate is settled,
• Take care of final expenses, such as paying off debt, utility bills or taxes (funded by your estate), AND
• Make court appearances on behalf of your estate.

Almost anyone over the age of 18 can serve as a personal representative, but common choices include spouses, siblings, and children. The most important qualities in this person are integrity, financial knowledge, dependability, available time, and the ability to communicate effectively with those impacted by your estate.

Who are the other participants you should include in your plan? Request your free copy of “The People in Your Plan” by contacting (616) 942-2392 or advancement@wedgwood.org.

Q: I’d like to include a gift to Wedgwood Christian Services in my will. What language do I need to give my lawyer?

A: Thank you for considering a gift to Wedgwood in your will! By doing so, you will model to your loved ones a steadfast commitment to financial stewardship, charitable giving and building God’s Kingdom.

By using the following language in your will, you ensure that Wedgwood continues to transform the lives of vulnerable children and families through residential care, community programs, and counseling services well beyond your lifetime.

I give to Wedgwood Christian Services, a nonprofit ministry with its principal offices located at 3300 36th Street SE, Grand Rapids MI 49512 [the sum of $____] OR [____% of the residue of my estate], to be used [for its general purposes] OR [designated purpose]. If, in its opinion, the need for funds for the designated purpose no longer exists, Wedgwood Christian Services is authorized to use these funds for a similar purpose.

Take the next step in putting a plan in place today by requesting “How to Give to Wedgwood Christian Services in Your Will.” Contact Gary today at (616) 831-5623 or graterink@wedgwood.org.

Q: I’m considering naming Wedgwood Christian Services as a beneficiary of my IRA. How do I do this?

A: Thank you for considering a gift to Wedgwood as a beneficiary of your IRA! This is a significant way to support this important mission and to extend the impact of your giving, well beyond your lifetime!

To gift your retirement assets, simply contact your plan’s administrator and file the appropriate beneficiary designation form(s). Use this contact where needed:

• Legal Name: Wedgwood Christian Services
• Address: 3300 36th Street SE, Grand Rapids MI 49512
• Tax ID Number:38-1918221

Would you like to explore other smart and powerful ways to give through your estate plan? Through Wedgwood’s partnership with Barnabas Foundation, you can have a complimentary, confidential conversation with a trusted planner who shares your Christian values. To learn more, call Gary at (616) 831-5623 or graterink@wedgwood.org.

 

Start your legacy giving conversation or inform us of Wedgwood’s inclusion in will or trust documents today by calling (616) 831-5623 or emailing graterink@wedgwood.org!