Our Founding Principles
LegacyWise was founded out of a deep conviction emerging from Judeo-Christian views of
the importance of Biblical teaching about stewardship. LegacyWise’s core mission is to assist
believers in working out their faith during their lifetimes and after their passing. While so doing,
LegacyWise also seeks to help ministries build their endowments to strengthen their financial
bases. That same Biblical understanding informs LegacyWise’s work to broaden its mission to
serve all, whether or not they share the faith of LegacyWise’s founders. LegacyWise seeks to
serve all faithfully as they work to implement their beliefs, whether or not those are aligned with
those of LegacyWise.
The references below are offered to afford insight concerning the background which has
informed the founding of LegacyWise.
Psalm 1:1-3, English Standard Version
Blessed is the man
who walks not in the counsel of the wicked,
nor stands in the way of sinners,
nor sits in the seat of scoffers;
but his delight is in the law of the LORD,
and on his law he meditates day and night.
He is like a tree
planted by streams of water
that yields its fruit in its season,
and its leaf does not wither.
In all that he does, he prospers.
– D. Elton Trueblood (1900-1994) theologian, writer
Will vs Trust
Documents to Think About
People to Think About
Things to Think About
Debt – an amount of money owed to another person.
Digital Assets – things that you own that you cannot physically touch, such as online accounts, patents, and computer records.
Digital Trustee / Representative – a trusted person selected by you in a will to manage your Digital Assess after your death.
Estate – basically everything you own (money, property, residences etc.)
Guardian – a responsible adult that would care for your children if you were unable.
Heart of Your Estate – the section of your plan that divides your estate among your chosen heirs.
Heirs – people that can benefit from your estate plan.
Intestate – a state in which a person dies without a Will or Trust, and an estate is divided per state law.
Notary Public – a public official whose signature strengthens a Will or Trust, and helps avoid Probate.
Off the Top Gifts – a small amount gifted prior to dividing the heart of your estate. Often used to show fondness or faith.
Parented – a personal definition outlining the depth of relationship necessary for a child to be considered an heir (ex: born to, adopted, foster, live with, etc.)
Personal Representative – a trusted person selected by you in a will to manage and divide your estate after your death. Also called an executor.
Physical Assets – things that you own which you can physically touch, such as books, boats, and clothing.
Power of Attorney – a document giving power to another person to make decisions on your behalf when you’re unable to.
Probate – a public court process by which a Will is viewed, an estate is itemized and valued, and assets are divided under the supervision of a judge.
Representative or Trustee Fees – a reasonable amount of money paid to your Trustee or Personal Representative for their time and effort handling your Estate.
Spouse – your husband, wife, or life partner.
Trustee – a trusted person selected by you in a trust to manage and divide your estate after your death.
Unable to Act – a state in which you are unable to manage your finances on your own. Complete disability.
Will – a public document describing how you want your things handled after your death.
Trust – a private document describing how you want your things handled now and after your death.
Witnesses – people that Watch you sign your will or trust, and cannot benefit from your estate plan.
Ingles a Espanol
Debt = Deuda
- Una cantidad de dinero que se le debe a otra persona.
Digital Assets = Propiedad Digital
- Cosas que posees y que no puedes tocar físicamente como cuentas en línea, patentes y registros informáticos.
Estate = Herencia
- Básicamente todo lo que tienes (dinero, propiedad, residencias, cuentas, etc.).
Financial Power of Attorney = Poder Legal financiero
- Un documento que le da poder a otra persona para tomar decisiones sobre tu dinero y propiedad.
Guardian = Guardian
- Un adulto responsable que se preocuparía por tus hijos si tu no pudieras.
Healthcare Power of Attorney = Poder Legal de atención médica
- Un documento que le da poder a otra persona para tomar decisiones sobre tu atención médica.
HIPAA Authorization = Autorizacion HIPAA
- Un documento que permite que tus registros médicos se entreguen a otras personas.
Personal Representative = Representante personal
- Si eliges un testamento, esta persona sera llamada tu Representante Personal, y tambien podria ser llamada tu ejecutor testamentario.
Physical Assets = Propiedad fisica
- Cosas que posees y que puedes tocar físicamente, como libros, barcos y ropa.
Pourover Will = Testamento Complementario
- Si eliges un fideicomiso, es posible que se utilice un testamento complementario para transferir gran parte de tu herencia al fideicomiso.
Spouse = Conyuge
- Tu esposo, esposa o pareja.
Trust = Fideicomiso
- Un fideicomiso requiere unos pocos pasos más para completar, pero evita los tribunales y mantiene las cosas en privado.
Trustee = Fideicomisario
- Si eliges un fideicomiso, a esta persona se le llamara fideicomisario(a).
Will = Testamento
- Para proteger tu herencia, querrás considerar un testamento o fideicomiso. Un testamento es rápido de escribir, pero a menudo es largo y costoso de legalizar después de tu muerte.