Estates are settled. Legacies live on. Which should be your focus?
Your estate will make an impact, but your estate plan will ultimately establish your legacy. The assets you leave to others—your estate—will benefit them financially as a portion of your benevolence is received. However, the values by which you have lived, the hopes you have to influence the future, and the guidelines you put into place—your legacy—are far more significant than any financial transaction.
The legacy you hope to leave takes preparation and planning; foresight and forethought; decision-making and discernment. The starting point is at the intersection of Biblical Stewardship and Proactive Philanthropy, the key tenets of South Carolina Christian Foundation’s mission and vision.
Think through these tips as you establish your estate plan and your legacy.
Pray. Everything we have in life and all we will leave behind comes to us as part of the Lord’s blessing. God entrusts us with resources to manage for His purposes. His resources and His purposes will continue long after we are gone. In times of dedicated prayer, asking the Owner will assist you in planning for your heirs, managing His assets, and making the impact He is calling you to make.
Prepare. There are potential and significant tax issues regarding your estate. If the current policy stands, the estate tax exemption of $13.6 million for individuals and $27.2 million for married couples will be cut in half in 2026. You are covered if your estate is worth over $7 million today. If your estate is settled in 2026 or later, estate taxes may be assessed, and depending on where your beneficiaries live, an inheritance tax may be incurred. Be aware of tax implications associated with your plans and the charitable giving strategies that may offset potential tax liabilities.
Consider. Your life has been (and therefore your legacy will be) driven by certain values and shaped by specific experiences. Consider how you came to embrace these values as well as the life lessons learned that have caused you to embody them. Most likely these ideals became significant to you through the influence of key individuals or challenging circumstances, not through independence or comfort. Reflect on ways you want your estate to communicate those same tenets to the next generation and create for them experiences that will teach them similar principles and practices.
Communicate. Conveying your estate plan to others will include them in the process, encourage them toward your vision, and empower them to steward your legacy into the future. Let your heirs know your hopes for them and how your estate is intended to bring those hopes into reality. Share with them the causes you care about most and the impact you wish to make on the culture and your community. Speak with your family about the reasons and rationale for constructing your estate plan so they will employ the same as they carry it forward. Tell them your personal testimony of how God saved you, blessed you, taught you, and called you to continue in death the important work He gave you in life.
Creating an estate plan is not easy. Neither is establishing a legacy. But both are well worth the time and energy if you desire to be an excellent steward. South Carolina Christian Foundation exists to disciple those who wish to explore and embrace Biblical Stewardship and Proactive Philanthropy. Wherever you are on the journey of establishing your legacy, SCCF can be a trusted advisor educating you on the tools and techniques for tax-wise planning and the principles and practices for godly asset management.
Contact the SCCF team to start your journey.
864.949.5800
Admin@SCChristianFoundation.org.