Leaving an Inheritance
Leaving an Inheritance
By Dr. Gerald House
A good person leaves an inheritance for their children’s children,
But a sinner’s wealth is stored up for the righteous.
(Proverbs 13:22, NIV).
Leaving an inheritance is vital for maintaining generational wealth. A wise and righteous person not only builds wealth but also plans for their descendants' prosperity. This refers not just to financial assets but also to Godly character, values, and a strong work ethic. Leaving a legacy of faith and God's love ensures the spiritual well-being of your children and grandchildren. We must teach our children to honor God by managing our finances wisely and living according to the life He has planned for us. Proverbs 13:22 encourages us to take a comprehensive approach, addressing both material and spiritual needs, with a focus on long-term planning and stewardship for the benefit of future generations.
Luke 15:11-32 tells the story of the parable of the prodigal son. This story has always fascinated me. Why did the father give his youngest son his inheritance early? Surely, he knew his son was not ready to face the world yet. This parable explores themes of sin, repentance, forgiveness, and God's unconditional love. By giving the younger son his inheritance early, it not only taught the younger son a lesson but also provided a lesson for the older son, who was faithful to his father and God. The father represents God; the younger brother symbolizes sinners who become lost from God’s path; and the older son represents those who struggle with self-righteousness.
Our society today requires us to provide written instructions on how our wealth should be distributed through a will. If we don’t do this, the state will decide for us. Think of a will as the instruction manual for dividing your assets among your heirs. Even with a valid will, the state mandates that our chosen executor go through the “probate process” to verify the will’s authenticity and proper execution. This process can be lengthy and costly, especially if you need to hire an attorney to help with probate. A person can spend up to ten percent of the assets’ value to probate a will. Is there an alternative?
One practical alternative is setting up a living trust. Unlike a will, a living trust lets your assets skip probate and go straight to your chosen beneficiaries. Creating a trust means you keep control of your property during your lifetime, and after you pass, your wishes are carried out with little interference from the legal system. Trusts provide flexibility in deciding how and when heirs receive their inheritance, which can be especially helpful if you want to promote responsible management or protect younger generations from misusing their resources.
Furthermore, estate planning should include more than just legal documents. Having open, honest conversations with your family is essential for sharing your intentions and fostering understanding. Sharing stories, lessons, and values along with tangible assets makes your legacy more than material possessions—it’s a foundation of wisdom, faith, and love that will guide your descendants for years to come.
Ultimately, whether through a will, a trust, or other estate planning tools, the goal remains the same: to honor God through wise stewardship and to prepare future generations with the resources—both spiritual and material—to thrive. In doing so, you not only protect your family’s future but also demonstrate the lasting power of faith and foresight.
Your faithful steward.
