My Blog

Tag: Estate Planning

  • Live Your Legacy Now

    Legacy – Something handed down from one generation to another…

    There are many ways people leave legacies. For example:

    • A legacy of wise leadership
    • A legacy of moral character
    • A legacy of professional excellence
    • A legacy of compassion
    • A legacy of faithfulness
    • A legacy of friendship

    All of these, along with many other qualities and accomplishments, are worthy of our attention. While we focus on what endures beyond our lifetime, the truth is that we must live our legacy now in order for there to be something to pass along to the next generation. Each day, how we live our lives, practice our vocation, relate to others, contribute to the welfare of our society, is an investment in the legacy that remains when we have reached the end of our days.

    In Church circles, when the term “legacy” is used, it is most often in reference to monetary gifts bequeathed to a church by members, as in “Legacy Stewardship.” In fact, that is one very important way one generation can hand something of value down to another generation. And, like any legacy, we have to live it day by day in order for there to be something to pass along.

    At St. Andrew’s Cathedral, we have a permanent endowment, contributions to which are held in trust, invested and reinvested, with only a portion of the earnings made available to spend on the purpose for which the gifts have been restricted by the donor. Our endowment makes it possible to maintain our historic facilities, do extraordinary things to strengthen parish and diocesan life (e.g., music, youth, formation), and to serve our neighbors in need.

    Much of our discussion about the Cathedral endowment focuses on estate planning, wills, trusts, and bequests. All of those things seem more of interest to our communicants who are retiring or who have come to the point where they want to be sure their affairs are in order as they face a shorter future.

    Here is another way of thinking about legacy stewardship, one that may be of interest to younger families and individuals. It is possible to name an endowment fund when contributions to that fund reach $25,000. You can make a pledge to create such a fund and add to it as you are able. In fulfillment of your pledge, you can invest a certain sum each year for a certain number of years to reach the goal of $25,000 in a designated fund. At that point, you can name the fund.

    What’s even better is that your endowed fund at St. Andrew’s Cathedral will be there in perpetuity. You, members of your family, or others who want to honor you can make a gift to it at any time, before or after it is named, increasing the legacy you have begun. And, when you reach the age when you are facing retirement or the end of your days, it will be there, almost like a member of the family, to be included in your estate plans.

    If you are interested and want to have a confidential conversation about how to live your legacy in this way, contact the Endowment Committee (endowment@standrews.ms).

    Think about it.

    I’ll see you in Church!

    Ron Short Blue Sig Cropped

     

     

     

     

    The Very Reverend Ronald D. Pogue
    Interim Dean
    St. Andrew’s Cathedral
    Jackson, Mississipi

  • Three Primary Ways Christians Share Their Treasure

    When I was called to be your Interim Rector, I was asked to assist the Endowment Committee of St. John’s Church in developing a program to increase the assets of the endowment. I have an interest in seeing parishes ensure the future sustainability of their missions and I also have some experience in developing church endowments. Our committee, with the assistance of the Vestry and Staff, has been putting several elements in place that are necessary for development of this type of giving: an annual professional audit, a gift acceptance policy, concise descriptions of endowment funds, a legacy society, and a list of ways to give to the endowment.

    Next week, members of St. John’s will receive an invitation to consider including the endowment in their estate planning. Some may think this comes too soon on the heels of our annual stewardship campaign or have concerns that the church asks for money too often. Those are understandable concerns but there is more to this invitation than that.

    The Endowment Committee believes that the momentum for the endowment that has been building should continue during the transition period while I am able to be of assistance. Even more importantly, there is no reason for an appeal on behalf of the endowment to be seen as competing with our ordinary sustaining stewardship because it is a different type of giving. Permit me to explain.

    When thinking about giving to Christ and his Church, there are three fairly distinct purses from which Christians share their treasure:

    • Stewardship of Current Income – The ordinary day-to-day ministry of the church is sustained by gifts from our current income.
    • Stewardship of Accumulated Treasure – Special projects, capital campaigns, emergency appeals, and extraordinary projects are mainly furthered by gifts from treasure that has accumulated over time (savings).
    • Stewardship of Residual Treasure – We extend our giving beyond our lifetime through legacy stewardship of retirement savings in the form of bequests from funds, properties, and insurance we will no longer need after we are gone. FINAL Heritage Circle Logo_color

    The Endowment Committee is inviting us to participate in the endowment by looking to the future and including St. John’s – beyond our lifetime, just as we might include members of our family, our alma mater, or some other cause that is dear to our hearts.

    The central message is that we are privileged to be stewards of all of it! Whether spent, saved, or given away, every penny is a sacred trust from God. How can God’s mission at St. John’s be strengthened by the treasure we leave when we no longer need it?

    It is exciting to think what can be accomplished by St. John’s if the ongoing mission of the parish is sustained by members giving generously from their current income so that extra sources of income, such as the endowment, can be used for extraordinary purposes. I hope that when the letter from these members of your church family arrives in your mailbox you will read it with an open mind and give the invitation prayerful consideration.

    I’ll see you in Church!

    Ron Short Sig Blue