by Bryon Swanson

Did you know that your state of residence has prepared an estate plan for you? The state is waiting to act as your substitute. Its Last Will and Testament goes into effect if you die without preparing your own will or living trust.

What it says depends on the stage of life you have reached. If you have minor children, the state's will makes provision for their care. Does the state know that you and your spouse want a certain friend or family member to be the guardian? Unfortunately, there is no way for a bureaucracy to gather that information or make such plans. The state will use its own formulas and methods to find a qualified guardian. Will that guardian be a Christian committed to raising your children to fear and honor the Lord? There is no guarantee how your substitute will act.

Perhaps your children are grown and on their own, so their care is not a concern for you. What does the state's will say as your substitute? It will distribute your assets without prejudice or regard for the special needs of your heirs. Also, the state makes distribution only to your direct descendants or extended family. It cannot make provision for friends or other special relationships.

The state's will cannot make a gift to your church, to Back to the Bible or your other favorite ministries. Even though you give faithfully to the Lord's work now, the bureaucracy has no way to take your specific wishes into account. The state has no option but to treat everyone's estate according to the same mold.

Thankfully, there is a solution! The good news is that you can plan now to prevent the state from acting as your executor. There is time. Have a qualified attorney prepare your own will or living trust. If you have documents in place, review them every few years to ensure their accuracy and how well they express your current wishes.

The following checklist can help you start thinking about your estate plan. 

Do you need to...

Young Families

• Name guardians for minor children?
• Direct the use of assets for their care?

Midlife

• Care for those assets that are accumulating during the high-income years?
• Make plans for an estate that is getting more complicated?

--Have you inherited or purchased real estate outside of your state of residence?

--Do you need to provide for the care of dependent family members?

Any stage of life

• Plan for the needs of your spouse?
• Select a personal representative, executor or successor trustee?
• Do planning now to save on estate taxes and fees?
• Structure how beneficiaries will receive assets (if a lump-sum distribution is not the best option)?
• Name the beneficiaries you want to remember?
• Include Back to the Bible, your church or any other favorite ministries?

If any of these situations apply to you, please request a complimentary copy of the Estate Planning Kit at our toll-free number: 1-800-759-6655.

We will gladly send it to you without cost or obligation. The helpful staff of the Back to the Bible Foundation want to help you prepare the solution that will keep the substitute from getting called into action.