What we are leaving behind — what legacy we are leaving? Think about this as it applies not only in our families or churches or ministries but in our finances as well. As you consider the future, you might want to reflect on your time in a church in the International Baptist Convention (or European Baptist Convention or Association of Baptists in Continental Europe) and consider leaving a legacy gift to the IBC in your will. Perhaps you came to faith or were called to ministry or met your spouse while in an IBC church. Perhaps the Lord used your time in an IBC church to move you to greater ministry or leadership or discipleship or missions. A great way to commemorate these events is to leave a gift that will continue to give after you are gone to ensure that others have the opportunity to experience what you have.
There are several ways to phrase a will provision for the IBC so that it will both meet the requirements for a valid bequest and accurately document your wishes for the use of your legacy gift. We encourage you to consult your attorney for specific requirements in your area, but the following are some ways that you can give.
Lorin Cranford shares about the legacy he and his wife Claire are leaving.
Unrestricted bequests help meet our most urgent needs at the time that we receive the bequest (see the sidebar article on current needs). Such bequests give the IBC the greatest flexibility and can be made with a sum of money, a percentage of your estate, or a specific piece of property.
The following is sample language that might be used: “I hereby give, devise, and bequeath to the International Baptist Convention, located in Frankfurt, Germany, (the sum of ________) or (____ percent of my estate) or (specific items of property) or (the rest, residue, and remainder of my estate). This gift may be used to further the missional objectives of the International Baptist Convention in such manner as the convention may direct.”
Designating a percentage of the residue of your estate (the remainder after specific bequests are made) allows you to allocate appropriate parts of your estate in advance, while allowing for fluctuations in the overall size. This can help simplify your future planning by making it unnecessary to change your will because of changes in specific property.
If you wish to support a specific area of ministry of the IBC, we ask you to contact the IBC Office in advance to discuss the designation you have in mind. As the convention’s needs may change over time, we recommend that such restrictions be stated broadly or alternatives are included.
The IBC has received two bequests in 2017. We are grateful for those people who have left an on-going legacy so that the IBC can continue to live out its mission and achieve its vision. Others have already let us know that they have included us in their wills. Lorin Cranford, former pastor at Cologne International Baptist Church and seminar leader at the Interlaken Summer Conference, along with his wife Claire, is one of those. See his testimony above. Larry and Linda Jones, former pastor of IBC Stuttgart, are another couple who have. If you have included the IBC in your will, we would like to hear from you also.
Charitable IRA Rollover
For U.S. citizens who are 70½+ years old, there is another option for giving that does not have to wait until you die — direct charitable distribution of an individual retirement account. This charitable IRA rollover allows certain donors to exclude this direct transfer from taxable income. These gifts can also count toward the minimum distribution requirement for IRAs. Direct charitable contributions for the IBC need to go through the International Baptist Church Ministries, a recognized U.S. charitable organization. For assistance in making a contribution, contact IBCM at [email protected]