Being Prepared

The world we live in has many uncertainties.

We must prepare for whatever may occur.  The most important preparation, of course, is our relationship with our Lord and Savior.  We also need to prepare for our families and determine how we will distribute the resources God has provided us.  An important part of that preparation is to have an up-to-date estate plan.  These pages will help you with this preparation.  If you have any questions after you have read them, please feel free to contact:

Kevin Wassenaar, Development Office
CENTRAL MINNESOTA CHRISTIAN SCHOOL
204 School Street, PO Box 98, Prinsburg, MN 56281
(320) 978-8700 • kevinw@willmarnet.com

God owns everything. We are His money managers.

The earth is the Lord's, and everything in it, the world, and all who live in it. Psalm 24:1

Christian stewardship is the efficient management of our time and talents. Each individual is accountable for the use of the resources available to him or her because all that we are and have is His.

As wise planning and hard work result in the accumulation of an estate, similarly, wise planning and dedication should also be applied to the disposition of that estate. Your estate, regardless of its size, is the material representation of your life and is, therefore, significant.

As Christians, our estate planning must establish the goals and objectives we wish to accomplish for ourselves, our dependents, and for our Lord. We must practice Christian stewardship in everything we do. Estate planning needs to change as you progress through different stages of your life. Here are some examples that may apply to you:

Your first will and estate plan

Some concerns and goals:

1. Name a guardian for minor children and a trustee to manage assets for their care and education.
2. Assure sufficient financial security for your spouse and all dependent family members.
3. Consider gifts to the CMCS Foundation and your other favorite Christian causes when the last
parent dies and all children are adults.

Your second will and estate plan

Some concerns and goals:

1. Review whether named guardians are appropriate for teenage children.
2. Avoid estate and inheritance taxes as assets increase in value.
3. Attend to the manner in which your home and other assets are titled, including business, life
insurance, and retirement funds.
4. Review plans for support of and fair distribution to family members who may have different
levels of need, maturity, and responsibility.
5. Review provisions for the CMCS Foundation and other Christian causes when the last parent dies
and family responsibilities have been met.

Your third will and estate plan

Some concerns and goals:

1. Plan for continuity of business and financial matters in case of disability and for the ultimate
transfer to children or other family members.
2. Provide for transfer of assets at death with minimum probate intervention, delays, and
administration.
3. Arrange for less active management of assets, yet assuring a regular life income plus sufficient
funds in the event of emergencies or long-term health care needs.
4. Clearly express goals and intentions to family members in order to minimize potential
disagreements among those interested in your estate.
5. Reduce or eliminate death and transfer taxes.
6. Provide financial protection for your children should your spouse later remarry.
7. Continue good Christian stewardship toward children, grandchildren, and other family members,
as well as toward the CMCS Foundation and other favorite Christian causes in planning the final
distribution of your estate when both spouses are deceased and family needs have been met.

Process Check List

1. Do you have a well thought-out will?
2. In this document have you worked through the four major areas which affect you and your
long-range planning goals?
* People - For whom do you wish to plan? Are there any special or unique family situations
which should be considered?
* Property - Is your estate likely to owe any estate or inheritance taxes? What assets are
available to meet your family needs in case of death or long-term disability?
* Plan - What specific goals do you have for your property after you are gone? How can a
plan be prepared which meets both your family needs and your Christian stewardship
desires?
* Participants - Which people should be involved to aid in accomplishing your goals? For
example: executors and guardians.
3. Have you reviewed this will over the last five to ten years?
4. Do you have trusted professionals who helped you establish/review your estate plan?
5. Would you like free consultation with a representative from the Barnabas Foundation?
6. Have you ever considered the concept of "A Child Named Charity" (including charitable causes
in your will as if one of your children)?

Other frequently listed concerns:

1. Avoiding the double tax on tax deferred retirement funds in the event of death before these
funds are withdrawn.
2. Ensuring equal treatment of children where some, but not all, are involved in the family
business.
3. Adjusting treatment of children where some show greater maturity than others.
4. Making provisions for family members with special needs due to handicap, disability, etc.
5. Providing care for aging parents without affecting their rights to governmental assistance
programs.
6. Developing criteria for identifying proper guardians, executors, trustees, or other estate
representatives.
7. Minimizing probate delays and costs.

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