How do I decide which tools to use in estate planning?

In this short video (2:04), Ron continues the Virtual Feedback Loop series on the topic of wealth transfer. This week, Ron speaks to the fifth step in the wealth transfer process, the tools and techniques decision, by pointing out that tools exist to accomplish your objectives, not to drive the process. We welcome your comments on the blog and thank you for your ongoing participation in the Virtual Feedback Loop!

Also, we are in an exciting time at MasterYourMoney.com as we are getting ready to unveil “Phase Two” of the site in the coming few weeks. We really hope that you will continue to enjoy this blog and the video answers and that you will enjoy the new structure and expanded features of the site. Check back soon to see the changes, and let us know what you think by emailing info@masteryourmoney.com!

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.

Number 1: Your tools should accomplish your purpose (Tools Principle)

Jeremiah 29:11 (NIV)
“For I know the plans I have for you," declares the LORD, "plans to prosper you and not to harm you, plans to give you hope and a future.”

I Thessalonians 5:21(NIV)
“Test everything. Hold on to the good.”

Number 2: Keep it Simple (KISS Principle)

II Corinthians 1:12 (ESV)
“For our boast is this, the testimony of our conscience, that we behaved in the world with simplicity and godly sincerity, not by earthly wisdom but by the grace of God, and supremely so toward you.”

I Corinthians 14:33a (ESV)
“For God is not a God of confusion but of peace.”

Number 3: Never use a trust because of a lack of trust (Trust Principle)

Luke 16:13 (NIV)
“No servant can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money."