A Word From Covenant Trust
Earlier in the year, we challenged people to change their perspective on money: to look at money, not simply in terms of dollars and cents, but to instead see money as a valuable tool that can be used to achieve their goals for themselves, their family, and the causes they believed in.
This month, we would like to challenge you to take on a different perspective on your estate plan. It can be easy to simply look at a will or trust as a way to distribute the things in our lives after we pass. But estate planning doesn't have to be about the things in our lives; instead, we can make it about the people in our lives. A will or revocable living trust isn't just for our homes and our savings accounts: it's for our families, our friends, and the causes and ministries we believe in and support.
Another way to think about this: ask yourself, "what do I want my money, investments, and assets to achieve after I pass?" This isn't the same as asking "what do I want to leave for my family?" or "how much do I want to donate to a charity?" It's the difference between wanting to leave $10,000 to a grandchild and wanting to help that grandchild pay for college. The question gets to the heart of legacy planning by essentially asking: "what effect do I want my legacy to have?"
Asking yourself this question can help you set estate planning goals and make decisions for your will or revocable living trust. Viewing your estate as a tool to accomplish goals instead of something to divvy up can give you a better idea of how to use, grow, and pass along your investments and assets.
Covenant Trust Company can help you plan your legacy, and offers the tools and expertise needed to build it. We can help you create a will or revocable living trust to ensure your estate is properly distributed to family and friends, and to Covenant ministries like Lake Beauty Bible Camp. To learn more about these options, contact any one of the Covenant Trust team serving in the Northwest Conference.
Steve Allison 218-297-7701 srallison@covenanttrust.com
Erik Carlson 763-253-6311 ewcarlson@covenanttrust.com
Karlene Crabtree 612-252-8599 kmcrabtree@covenanttrust.com
Steve Allison, ChFC | Financial Services Representative |
Covenant Trust Company
5706 Arnold Rd, Duluth, MN 55803 |
Office: 800-483-2177 | Direct: 218-297-7701
