Giving generously. Most of us are aware of the often-quoted verse:
“Each of you must give as you have made up your mind, not reluctantly or under compulsion, for God loves a cheerful giver.” (2 Corinthians 9:7)
It is quite common now to hear the comment that the next decade or two, Australia (and other Western countries) will witness the provision or disbursement of more wealth to the next generation than in any other time in history. Australia is now an overwhelming middle-class society, and their assets are buffered by reasonably generous social security arrangements and increasingly related and helpful superannuation extension.
Property assets are a major contributor to this in Australia, particularly in the capital cities, but increasingly in coastal and regional areas. Superannuation and shares are also significant factors in asset accumulation.
The overall impact of our increasingly wealthy society raises questions for ongoing philanthropy.
It seems clear to me that for many missions and charities the provision of larger lump sums will be a key to their continued ministry and indeed wider ministry and service in the future, rather than the older practice of receiving smaller regular donations. Many people today are quite simply asset rich but have limited disposable regular income. The assets will only be realised when they are no longer being used, and that is why it is critical that thought is given to how these assets may be disbursed.
Where there is a will there is a way.
For the Christian, there are particular questions about our wealth and what we should do when we are no longer here. Yes, I am talking about our wills.
There has been a common assumption in our society that parents leave all their assets to their children. This is a basis one could say in common-law understanding. And certainly if one were not to provide for any children, or indeed no relatives at all, it is more than likely that the assets would then be used up in court cases with lawyers being the main beneficiary.
There is a normal and good case for providing for your children or relatives, particularly if they are in need. Provision of assets should also consider their overall stability (mental and social health). For example, to give a financially irresponsible person several million dollars is simply being financially irresponsible yourself.
There are also different circumstances today. For most middle-class families in past years a smaller asset base was divided between a larger number of children or relatives, while today assets may only go to one or two children. Comparatively today many heirs are better off, particularly if they do not have their own family, and have not divorced, and re-partnered. They may indeed not need more income, though this will depend on the situation.
Some people reason today that all the family assets need to go to the children because otherwise they will not be able to afford a home, or to pay off the home they have bought. This is a good secular argument but has no basis for a Christian. There are certain things you should provide as a faithful and loving parent, but assets are not one of them. Some Christians are not in any position to provide for their children in a substantial way in any case and should not be made to feel guilty if they cannot provide a new house for their children.
If you have been faithful with your talents and assets, then you are bequeathing a foundation of faithful living. You may also have been very generous in sacrificial giving over many years, or you simply may have not had a substantial income or superannuation base compared to the average person.
I dare to suggest though, that even if some children are not brilliantly well off, perhaps they could survive in their later years in a two-bedroom unit, rather than a five-bedroom house.
How much should you give?
As I mentioned in the introduction, Australia has most of its population now safely in the middle-class category and it is worth considering that if you are retired and living in a capital city it is estimated your average single or couple have assets in the range of two to three million dollars. What a blessing you could be to others at this critical time in the change in arrangements in giving.
My suggestion is that a minimum of 10% should be earmarked in your will for mission and charities, with my hope that it would be 20%, and in some cases 50%. Perhaps the higher amounts will be controversial or difficult?
It is essential that you discuss with your heirs the leaving of some assets to missions and charities. This not only helps them to be aware, but more importantly allows time to address any issues that may arise.
This may be a test of your relationships and how your children or other beneficiaries understand that for you, giving in this way is simply a part of your Christian faith and understanding.
Hopefully your heirs will understand your faithful giving and respect your decisions.
Decisions like this will be helped by the provision of good information and of course by giving to organisations with exemplary records.
Highlighting the type of commitment that you have with a mission or charity will also be very helpful. Perhaps even introducing your children to the importance of this by asking them to attend events or functions?
Your goodwill and good planning will build on the foundation of giving, and indeed may introduce another generation that can continue this model.
What a blessing to be a cheerful giver.