How do I decide to whom I should leave my estate? (Step One: The Transfer Decision)
In this short video (1:58), Ron continues the Virtual Feedback Loop series on the topic of wealth transfer. This week, Ron helps to clarify the first step in the wealth transfer process, the transfer decision, by identifying three underlying principles that will help you to answer the question, “to whom should I give my estate?” We welcome your comments on the blog and thank you for your ongoing participation in the Virtual Feedback Loop!
As always, Ron’s encouragement to you is to go back to God’s Word to restore your faith. Take a moment to consider the following Scriptures, and meditate on their Truth and their application.
Proverbs 13:22 (ESV)
“A good man leaves an inheritance to his children’s children, but a sinner’s wealth is laid up for the righteous.”
Principle #1: The Treasure Principle
Matthew 6:19-24 (NIV)
“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there will your heart be also. The eye is the lamp of the body. If your eyes are good, your whole body will be full of light. But if your eyes are bad, your whole body will be full of darkness. If then the light within you is darkness, how great is that darkness! No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to one and despise the other. You cannot serve both God and Money.”
Principle #2: The Unity Principle
Psalm 133:1 (NIV)
“How good and pleasant it is when brothers live together in unity.”
Principle #3: The Wisdom Principle
Ephesians 5:15-17 (ESV)
“Look carefully then how you walk, not as unwise but as wise, making the best use of the time, because the days are evil. Therefore, do not be foolish, but understand what the will of the Lord is.”
James 1:5 (NASB)
“But if any of you lacks wisdom, let him ask of God, who gives to all generously and without reproach, and it will be given to him.”
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Related Articles & Links:
Treasure Principle: A fantastic article about the story of Randy Alcorn, who wrote the bestselling book, The Treasure Principle.
Unity Principle: Sharon Jaynes of Proverbs 31 Ministries talks about the blessings of unity in marriage.
Wisdom Principle: Steve Diggs discusses how the current economic crisis in America reveals a need to pursue wisdom, not just knowledge.
Crown Financial Ministries has an article about Biblical wisdom and preparing your family for the inheritance they may receive.
Ron Blue and Jeremy White wrote a book called “Splitting Heirs” that speaks to the topic of inheritance and training children and grandchildren.
Video Transcript
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