Life is full of milestone events that impact the gifts we plan from our estates. In 1971, Herb and Rachel lost their son in the Vietnam War. Though that was 52 years ago, Herb and Rachel still remember the day they received the bad news. Today, their son would have been 71. They wonder why they are still living at 94, when their son’s life was so short. They are thankful that in Jesus, both they and their son will live with Jesus in eternity.
A year before their son left for Vietnam, he had married, and his wife was expecting a child when he left. Through the years, Herb and Rachel felt responsible for this child, but now they know that at age 52, their grandson is a successful, happily married man with children of his own. The plans they included in their estate 52 years ago are no longer needed for his survival.
Herb and Rachel feel it is time to rebalance their estate plan, equally dividing the family inheritance between their two surviving children, and this grandson. As they contemplate this, they realize that both of their children, just like their grandson, are quite comfortable financially. But they have been hearing a lot lately at Church that families need scholarship support to send their children to the Lutheran School. There is an endowment fund set up for that purpose. They feel their estate plan should include a gift for this endowment. Yet at their age, the work of figuring this all out on their own seems intimidating. They called their LCMS Foundation Gift Planning Counselor, who led them with some questions, to finally settle on a $100,000 gift for ministry. They found out they could create this gift simply by changing a beneficiary designation on their IRA which they never touch. They are thankful more children will be taught about Jesus, just like their son was when he was in this school.
Do you sense that your plans are changing? Your LCMS Foundation Gift Planning Counselor can help you organize that new plan. Contact the Indiana District’s LCMS Foundation Gift Counselor, Mark Muehl (260-241-4845, mark.muehl@lfnd.org) to get the conversation started.