When Warren Buffet indicated that his estate plan was to place over
$30 billion into long term foundation and endowments, it sent a message
to many people about what to do with the blessings of this current generation.
The history of many of the larger endowment funds has been almost tragic
in that the people who end up making decisions about how to distribute
these large funds have often changed the original intent of the donor
and indeed the recipient is often very far from a Christ centered organization.
How indeed can anyone be assured that their wishes
will be carried out after death and also be assured that the wealth
left to family members will not corrupt their lives and lead them into
reliance on the wealth instead of on Christ? There are some basics
that can help in this process but each of us must come to grips with
GOD OWNS IT ALL!! Do you believe this? If you do then
you will be way ahead of the game for your own planning
and you can move to the head of the line in helping
your clients and family members who are believers since you will then
move toward trying to please the Lord in both your choice of heirs and
also the volume of wealth that you should trust with each of them.
I recently had a conversation with Mark Minnella
about the Biblical basis for endowment and you will find a treatise
attached today from my good friend Rob Cathcart of IHS Foundation who
has done considerable research in this regard. The local branch of
CFPN and chapter of NACFC have committed to helping encourage clients
to pledge endowment assets to Kingdom work over the next few years.
Their goal is to see at least $50 million to the Lord’s work and although some might think this
too high or too low, it is just a starting point to encourage each advisor
to get serious about the disposition of their wealth. Obviously, just
one “Christian” version of Warren Buffet would make us revise
that goal quickly. Wouldn’t that be fun?
Sent August 14, 2006
Dwight Short if you would like to receive future
Monday Morning Messages.
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