Week 2- Altruism in Estate Planning: A Discussion with Jermaine Whiteside and Don Johnson

In this episode of The Lost Estate podcast, Jermaine Whiteside and financial advisor Don Johnson discuss altruism in estate planning. They explore how biblical principles guide us to use our resources not just for personal gain but to bless others and leave a lasting legacy. Through an engaging discussion, they explore practical steps to align your financial decisions with your faith and ensure that your legacy reflects the love and generosity of Christ. Tune in for valuable insights and inspiration!

Transcript

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This call is being recorded. Welcome back, everyone, to the Lost Estate Podcast. I am your host, Jermaine Whiteside, and today we dive into week two of our series focusing on altruism in estate planning. I am excited to have a special guest with us, Don Johnson, a trusted friend and financial advisor who brings a wealth of knowledge to this topic. Don, welcome to the show. Thank you, Jermaine. It's a pleasure to be here, especially to discuss the important and often overlooked aspect of estate planning. Absolutely. Now, last week we talked about the concept of Imago Dei and how being created in God's image impacts our financial decisions. Today, shifting gears a bit to focus on altruism, how we can use our resources, not just for ourselves, but to bless others and leave a lasting legacy. That's right, Jermaine. Altruism is really the heart of what it means to be a good steward of the blessings God has given us. Now, it's also important to think beyond our immediate needs and consider how we can make a positive impact on others, even after we're gone. And that's something we see emphasized throughout the Bible. One of the key scriptures we focus on today. It's Matthew 6, chapter 19, the 21st verse, where Jesus tells us not to store up treasures on earth, but to store up treasures in heaven. Don, how do you see this scripture connecting with the idea of altruism in estate planning? Now, well, Jermaine, this scripture reminds us that our true wealth isn't found here in material possessions on earth. The treasures that we store up in heaven are the acts of kindness and generosity. And love that we show to others. Now, in this context of estate planning, it means making decisions that reflect our faith and values and using our resources to support causes of ministries and individuals that align with God's work here on earth. Exactly. And one of the most powerful examples from scripture that illustrates this is the parable of the Good Samaritan in Luke, chapter 10. Here we have a man. A man who, out of pure compassion, goes out of his way to care for someone in need. He doesn't just provide immediate help. He ensures that a man is taken care of, even after he's gone. That's a powerful example of altruism can look like in our financial planning, right? Absolutely, Jermaine. The Good Samaritan didn't just think about himself here and now, but he made provisions for ongoing care. Which is exactly what we can do through estate planning, whether it's setting up a charitable trust, or leaving a portion of the estate to a church or a nonprofit, or even making sure our loved ones are provided for. Now, these are all ways to practice altruism and reflect God's love in our decision making. And that brings us to the practical side of things, Don. What are some key steps that listeners can take to incorporate? What are some key steps that listeners can take to incorporate altruism in their estate planning? Great question, Jermaine. Now, the first step is to really think about your values and what is important to you. Now, what causes or ministries are close to your heart? Next is to consider how we allocate our resources to support those causes. Now, this could be through a bequest in your will, or setting up a trust, or even making lifelong gifts. Now, another important step is to actually talk to your family, to make sure you understand, and they understand, your wishes and the reasons behind them. Now, this not only helps prevent conflicts, but also inspires them to think about their own legacy. Now, lastly, it's always a good idea to consider having a good financial advisor or estate planner who shares your values. Now, they can help you navigate the complexities of estate planning and ensure that your decisions reflect your faith and your commitment to helping others. That's some great advice, Don. For those listening, remember that estate planning isn't just about the financial aspect. It's about leaving a legacy that honors God and blesses others, whether it's supporting your church, helping those in need, or ensuring your family is cared for. Every decision you make can reflect the love and generosity of Christ. Now, that's well said, Jermaine. It's about looking at the bigger picture and realizing that what we leave behind can continue to do good for others long after we're gone. Thank you, Don, for sharing your insight today, and thank you to all our listeners for joining us for week two of the Lost to State podcast discussion. I hope this was helpful. I hope this conversation has inspired you to think about how you can incorporate altruism into your own estate planning. Now, it's been my pleasure, Jermaine, and I'm glad to be a part of this important discussion. And listeners, if you haven't already, be sure to check out the full week two presentation on our website at www.thelosttostate.org and join the conversation on our Facebook community page. Until next time, remember, it's not just about what we have, but how we use it to reflect God's love and making a lasting impact. God bless.