Category: Family Values

What Is Your Legacy?

What Is Your Legacy?

Every month, I am involved in a Kingdom Advisors Study Group and January’s focus is on legacy.

Children are the living messages we send to a time we will not see.

J.W. Whitehead from Exploring Stewardship section of The Stewardship Study Bible

Did you know that there are three kinds of legacy!

1. The Legacy We Received

Father’s Day 2006 with my Grandfather, Arch Woodworth

When considering the legacy I received, my thoughts immediately went to my grandfather, Arch Woodworth, who has been described as “a good man.” He was consistent in his work, loved his Lord and maybe without realizing it, was an example to me. I remember as a child seeing him stand in church and quote: “Be not weary in well doing, for in due season you will reap if you faint not.” He lived that verse; it was part of the fabric of who he was.

As a financial advisor, when I was asked about my family background (particularly when doing business on the Baie Verte peninsula), I would often share who my grandfather was and that he had worked in Advocate mines. When they knew whose grandson I was, it created an immediate connection of trust because of him. That’s part of the legacy I received.

2. The Legacy We Leave

As we age, we think more deeply about the legacy we will leave. What will our children and grandchildren receive from us? A similar word for legacy is inheritance, which is what you receive from another person, usually through a legal document, like a will. We can leave a financial legacy which can be valued by our heirs, but Ron Blue says, it is important to transfer wisdom before you transfer wealth. In his book, Splitting Heirs, Ron warns;

The worst thing you can do is to pass wealth if you haven’t passed wisdom. Good stewardship includes not only providing for your family, but also being sure that every family knows how to manage that provision.

Ron Blue, Splitting Heirs, p.71

3. The Legacy We Live

This may be the most challenging, but because you are reading this today, it means that you still have an opportunity to live out your legacy. One activity we did with our adult children was to ask them to think of 5 words that would describe our values as a family. This provided a significant opportunity for conversation and helped reveal what we have lived as parents. Words such as compassion, respect, delight, authenticity, and fun-loving were some of the values shared.

Surprisingly, all of the kids chose one word in common and that was “generosity.” You may have heard the phrase, “sometimes things are more often caught than taught.” That was the case here because even though mine and Cathy’s lists did not include that word, our children had seen it lived out. That’s when your values actually become virtues.

We may hold generosity as a value, but the virtue is behaving generously. Alignment occurs when we transform our values into virtues. Simply identifying our primary values is not sufficient. The next step is to define more precisely how we intend to embody the values in our daily lives – regardless of external pressures.

Jim Loehr and Tony Schwartz, The Power of Full Engagement

Take the time to ponder the questions in these four areas of legacy as you pass on the wisdom you have acquired in life.

1. Personal Legacy Question:

What will you be remembered for? You will leave a legacy whether it is by design or by default.

2. Family Legacy Questions:

Are you intentional to build into, or live out the values that represent your family? Have you discussed your family values and codified your family vision/mission statement?

3. Financial Legacy Questions:

Considering your financial legacy, what do you hope your inheritance will accomplish in the lives of your heirs? How prepared are your children to receive an inheritance?

4. Charitable Legacy Questions:

What are your current giving practices? If you are leaving money to charity, are your children the ones to give it away and are they trained and prepared for such a task?

Teach us to realize the brevity of life, so that we may grow in wisdom.

Psalm 90:12 NLT

Happy New Year – A Choice or a Greeting

As we enter a new year, we tend to greet each other with the term, “Happy New Year” but I have been wondering if these words are better suited as a choice rather than a greeting. After all, we cannot control what will happen in the coming year.

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The sad reality is that we may face difficult circumstances in 2022 that will bring grief rather than happiness. One Kingdom Advisor in NB shared with me during the holiday season that his wife’s cancer has returned; the news from the doctor is anything but positive and he is afraid he may lose the love of his life at some point this year.

Another advisor in AB suffered a brain bleed and was rushed to hospital just before Christmas. She posted this on Christmas Eve:

“I have a new joy. I have life. Dec 13th about 9:15, I had a headache like I have never experienced.

I knew I was in trouble almost immediately. As I crawled the hallway, the prompting, tell the 911 operator the door code. They can get you. Just rest now. I felt the Angels with me. They kept me safe and my heart at peace.

Since then, I have been told I am of the most unlikely to have survived this. Only 25% survive. 1 in 5 have no known cause and that is me.

I am so ready to count my blessings, treasure my loved ones and many dear friends, and to help those I have been entrusted to work with after a little time to fully heal.

Beyond blessed, beyond grateful, and weeping again.

On Boxing Day she posted some “post event observations” …

“In life there will be times we disagree with each other. Sadly this often leaves a broken relationship even amongst people that dearly loved one another. One of the many blessings to come of this medical event is healing in some of these breaks. It’s made it worth going through! It’s been a life changing time but for the better.“

It seems that the events of our lives, no matter how challenging, are really meant to be opportunities, even though it may be difficult to see it that way at the time.

When troubles of any kind come your way, consider it an opportunity for great joy. For you know that when your faith is tested, your endurance has a chance to grow. So let it grow, for when your endurance is fully developed, you will be perfect and complete, needing nothing.

James 1:2-4 (NLT)

Jesus himself gave us the ultimate example of endurance: “in view of the joy lying before Him endured the cross …” (Hebrews 12:2 Berean Literal Bible). We have to determine our difficulties to be an opportunity for joy. Therefore, “Happy New Year” is not merely a greeting, but a choice we make in life.

Make 2022 your best year ever. Life is so very worth the living.

A Child is Born!

A Child is Born!

Christmas Day, December 25th has become a day focused on gift-giving and receiving. On Christmas Day 2019, our granddaughter, Eleanor was born which has changed Christmas Day for our family into her birthday celebration.

Queen Elizabeth said it well in her Christmas message:

In the birth of a child there is a new dawn with endless potential.

Queen Elizabeth, Dec. 25, 2021

When a child (or grandchild) is born, it brings about significant change in the family dynamic. You become more centred on someone new rather than on yourself. Before children (35 years ago), we were newly-weds and the focus was on each other as a young married couple. We were transformed into parents and the years since brought further transformation – We became grand-parents! Christmas Day 2021 was delayed until Boxing Day because our focus intentionally shifted.

Photo taken on Dec. 27, 2019

The process of transformation often involves painful experiences. Here is how the Apostle Paul described it:

I feel as if I’m going through labor pains for you again, and they will continue until Christ is fully developed in your lives.

Galatians 4:19 (NLT)

While we celebrate Christ being born on a specific day, we have continued the celebrations from a single day to a full season. Paul said he was experiencing labour pains which “will continue until Christ is fully developed.” It is not just the experience of Christ being made alive in our hearts but also that He continues to develop in our lives. Children grow and parents grow with them so each can be brought to maturity and that is the journey of life.

When I think about Christmas, it’s about a child being born but also about that child becoming “fully developed in our lives.” What this means is the focus of life and yes, even our business, is changed forever so that Christ becomes the centre.

There is much in our world that draws our attention away from what is truly important. Often the influences that impact our daily decisions are so subtle that we are completely unaware of them. Make no mistake the goal is to shift our focus away from what is essential. The context of Paul’s statement about labour pains is that there are competing voices that are “zealous to win you over” with the ultimate goal of distraction so that we “would pursue them” (Gal. 4:17).

There is always a competing voice – one that is louder than the whisper of truth! The truth is that we are on this earth to complete the work that was prepared for us and to bring glory to God. The louder voice calls us to focus on other things in our business like products and sales targets. While these are a necessary elements for our success in business, the focal point is to bring glory to God by completing the work given to us.

For every industry, there are “best practices” to follow to be successful. When Christ is fully developed in us, the “best practices” will naturally flow through us into our lives and businesses.

It’s quite interesting that “the glory of God” is something we have all fallen short of (Rom. 3:23) whether in life personally or in business. We have all missed opportunities but the object of our hope is the glory of God (Rom. 5:2).

So as we wrap up another Christmas and journey into 2022,

I am sure of this, that he who began a good work in you will bring it to completion!!

Philippians 1:6 ESV

I Call Her “Mother”

I Call Her “Mother”

Everyone seems to have a special and unique attachment to their mother. I don’t typically call my parents “Mom & Dad” anymore, but when I do, it happens in that order. Since the early 80’s I began calling them, “Skipper & Mother” in that order, although I’m not certain why the order is reversed; just a fun fact.

The Coupons

When I think of “Mother,” a few things come to mind: the first being coupons. She is the coupon queen! She has always been very frugal with money and in many cases, it was out of necessity. I grew up as a PK (Pastor’s kid) and didn’t realize that we did not have much in the way of financial resources during those times, but we did have our needs met. We have often joked that she would not purchase any grocery items without a coupon to get a discount.

The Year – 1970

5th Birthday – Dec. 31, 1969
5 lifesavers on my cake!

The second thing that comes to mind is her testifying about my healing that happened when I was five years old. They pastored at Brighton, which in 1970 was a small island. One particular Sunday in April, I was very sick with what they assumed was the flu, so they went to church that night (as usual) and we three kids were at home with a baby-sitter (Lily Rice Ledrew / I like to think this experience influenced her career choice).

When they got home, I was worse and my head was all drawn back, so they realized this was more serious than they thought. It was the spring of the year when the ice was becoming dangerous to cross but there was no choice – we had to get to a doctor. I remember my parents sharing about seeing the pain on my face as the komatik (sled) went over the bumps on the snowmobile trail.

Summer of 1970 with my Aunts!

The hospital staff quickly determined that I was suffering from meningitis and immediately took action to medicate me. My parents were told the grim news, that if I survived, I would “be like a vegetable (a person with a dull or inactive life), likely not knowing them and unable to communicate.” It would take a few days for the medication to take effect, so they were advised that there was no point in returning for at least two days.

I recall how she shared about Dad going to the corner of the room and crying out to God and saying something like, “I was on that island preaching for You, declaring a message of healing – if you take my son, I can do that no longer!” As a father now, I can only imagine the anguish in the hearts of my mom and dad in those hours.

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Despite the instruction from the doctor, my parents returned the next day inquiring about me. They were told that I was awake and so active that they had to strap me into the bed. (I’m guessing it was difficult to keep a 5 year old from pulling out the IV and any other monitoring devices).

Mom said when they came into the room they asked if I knew who they were and I responded, “Yes.” They gave me my Kindergarten “reader” and asked me to read. I responded with, “Run Dick, run. See Dick run.” (I still remember those Dick and Jane books). I recall none of this, but hearing Mom testify about it was such a powerful memory.

The Boat

Brother Roger (7) & me (5)

Just a few months later, I was chasing my uncle and older brother to the wharf to get aboard our parents boat. My uncle jumped onto the boat, my older brother jumped onto the boat, so I jumped too. However, with movement of the waters, the boat had moved away from the wharf at that moment, so I slipped into the water and was about to drown when someone pulled me to safety. I remember thinking as a teen that God must surely have a purpose for my life, otherwise, I would have died one of those times.

The Bible

Ten years later (1980-81), I remember standing in the front of the church sensing God’s presence so wondrously that there are no words to really express it. I recall looking under the pew that was on the platform (where Mother usually sat during the service) and there was her Bible. All I could think was “Preach the Word – in season and out of season.” That’s when I felt God’s call. During my first year of Bible College (1982), my own Bible sat open on my desk often to that passage. The words, “do the work of an evangelist, fulfil your ministry” really stood out to me.

The Preacher

Mother was quite an anointed preacher. One sermon I recall her preaching was when she compared the facts with the truth and she made a great distinction between them. She has often told the story of my healing, and I can tell you that her speaking infused faith into my heart and the hearts of the people.

Mother Preaching in 1994

She would say it something like this: “The fact is Lorne was very sick, the fact is the doctors gave no hope of a complete recovery, but the truth of God’s Word can have an impact on the facts. The facts of your situation do not change the truth of God’s Word. The truth is very different than the facts. The circumstances of your life (present facts) can change, particularly if you stand on the truth.” Wow, I have never forgotten the power of those words or the anointing on her ministry.

In a recent survey, Shaunti Feldhahn asked, “What do YOU like most about being a Mom?” Fifty-six percent responded: “Watching my children grow and the journey to becoming their own person, with their own unique, God-given personality.”

Mothers have immense influence and thanks “Mother” for the lasting impact you have had on my life!

… In Whom I Am Well Pleased

… In Whom I Am Well Pleased

When I woke up yesterday morning, on Father’s Day 2020, I reflected back on a message that I had shared a few years ago. I wrote a blog about it at that time and I really wanted to do a “Father’s Day Reversal” – I wanted to send a very special message to my kids instead of them just wishing me “Happy Father’s Day.”

How can we ever live up to the greatest example of fatherhood? As Dads, we need to express to our children that we are pleased with them. Here’s what I understand from the baptism of Jesus: the Father being pleased with the Son was not based upon what Jesus had accomplished in his life. Yes, Jesus was a great carpenter and was skilled in relationships but I believe that God was pleased simply because Jesus was on the earth. He existed as a man and was positioned to accomplish the Father’s will for His life.

Let’s face it, we tend to be pleased with our children when they accomplish something: they get good grades, they land a great job or get a promotion. That’s when we express our praise, when we have reason to be proud of them. It’s interesting the Father’s expression that He was pleased didn’t come when Jesus had healed the sick, fed the hungry, or turned the water into wine. It came before Jesus had accomplished any of these things.

Father's Day June 15, 97
Father’s Day 1997 No Accomplishment Required!

I have realized as a Dad that there are times when it is important to just tell our children that we are pleased with them simply because they are on the earth. When we base our “being pleased” on behaviour or accomplishments, we are placing conditions on the acceptance of our children.

Yesterday, I shared this with my kids: “I’m pleased with you, not based on what you have accomplished in life, but simply because you are on this earth.” What I realized is that this statement was very freeing for my children because they know they are accepted by me and do not have to earn that acceptance in any way. This is also a process for me as a Dad. I have had to let go of my expectations and what I desire for my children and simply rest in the fact that God is able to direct each of their lives in ways that I can never do. They are free to walk into their futures without sensing the need to gain my approval.

The fact is I don’t always agree with my kids; they have their own opinions that do not align with mine, but in spite of this, our relationship as a family is stronger than ever. I do not need to agree with my children to be happy or satisfied with them! My children are far from perfect, as am I, but thankfully, that’s not what is required to be a strong family. What is required is simply accepting our children … because they are our children.

My prayer today is that more Dads will not only tell their children that they are pleased with them but will also tell them why. Are you satisfied with your children? Have you told your son or daughter that you are pleased with them simply because they are your son or daughter? Isn’t that reason enough?

 

A Favourite Christmas Tradition

A Favourite Christmas Tradition

It’s that time of year again when we get to take some time off and make special memories with family. Our family loves to watch movies during the holiday season and one of my favourites is: “It’s A Wonderful Life.” My son messaged me this week and said, “Dad, it looks like you’re in good company with your favourite Christmas movie choice.” 

He was quoting an article from the BBC News website that stated:

It’s A Wonderful Life is a classic festive feel-good film about a man who has devoted his life to helping others.

But when he tries to take his own life a guardian angel stops him and shows him the value of his life.

A wonderful Life

The reason I like this movie so much is because it reminds me, in some ways, of my own life. Simply put life doesn’t always go the way we might have envisioned, but this movie serves as a great reminder that the impact of our life is usually greater than we realize, especially when life is not necessarily pleasant.

In the movie, Clarence, a guardian angel, shows George Bailey the value of his life by having him see what his community and the lives he knew so well would be like if he had not actually lived. If we had not ever lived, the lives of those we love and care about would not be the same at all. In essence, their lives would be the lesser without us. The movie is a reminder that one life enriches and can change the lives of others without realizing it.

It’s interesting that the very thing that was such a burden (his work and its challenges) became the very thing that brought the greatest level of pleasure and fulfillment in the end. Clarence gave him a different perspective which made all the difference for George Bailey. Sometimes all we need is a fresh perspective – one which causes us to see that even when our lives are messy, broken and not how we would like it to be, there is still an element that is actually wonderful. 

Do you realize that your life adds meaning to those around you? Have you ever thought about your family, your co-workers and friends and wondered what their lives would look like if you were not present? 

Merry Christmas! It’s a Wonderful Life!

A Truck By Accident

A Truck By Accident

Three years ago, we left Newfoundland and moved to Ontario. Now in 2018, it was time to rent another Uhaul to move our son, his wife along with our grandson from Toronto, Ontario to Gatineau, Quebec. That’s where this story gets interesting.

I go to pick up the rental truck, only to be told the 15 foot truck my daughter-in-law Amanda had ordered was in an accident and had to be inspected and was no longer available for us to rent. He said, “I have another truck for you though, it’s a little bigger, would that be OK?”

I replied by explaining how they had moved from Toronto a month ago in a 15 foot truck, stored everything in my garage and since that time they purchased an oak table with 6 chairs plus two night tables for their bedroom, so an extra 5 feet would not go astray.

Here is how Amanda explained her day (before moving day) on her Facebook post:

Well, today was eventful. I lost my keys, then found them under the seat of my car. We went to pick up our truck for tomorrow’s move, but it was in an accident. So we picked up a 20′ truck at 5 for the same price as the 15′ truck. Then I got a call that our fridge/stove order was cancelled, and wouldn’t be delivered tomorrow but we’d have to wait a week or two for it to arrive. So we went to Home Depot and got the same fridge and almost the same stove for $800 cheaper than our original order. We’re picking them up with our Uhaul tomorrow morning.

The one thing she didn’t really explain was that the Home Depot in Carleton Place could not deliver to Quebec, so the fridge and stove would need to be  transported rather than be delivered. I quickly realized the 20′ truck was not just a replacement for the smaller truck but actually needed to make the move in one trip.

It was like someone knew and even arranged a larger truck for us to make the move. When I picked it up, I understood Home Depot was delivering the fridge to their Gatineau home the following day. I certainly had no idea we would need the extra space in the truck, nor did the guy at Uhaul.

Many people would say that all of this is simply things falling into place, but I can’t help but think about the words of Jesus:

Consider the birds of the sky: They don’t sow or reap or gather into barns, yet your Heavenly Father feeds them. Aren’t you worth more than they? (Matt. 6:26)

Many would probably say that God is not involved in our lives like that but here is the answer  I would respond with:

Just as you don’t know the path of the wind, or how bones develop in the womb of a pregnant woman, so also you don’t know the work of God (see Eccl. 11:5).

You can choose to say these events are just coincidence and has nothing to do with God’s activity. I choose instead to give God glory for caring for us similar to how He cares for the birds of the sky or the grass of the field. If God feeds the birds and cares for the grass, I believe He can arrange the right size of Uhaul we need, even if we ordered a smaller one.

Have you ever had good things happen that are almost too good to be true? Do you thing God has any part of this or is it just coincidence?

When Time Touches Eternity

When Time Touches Eternity

The US Marines have a saying – “In order to get to heaven, you have to die!”

That statement is interesting indeed, but I would ask the following questions: Is your life over when you die? What comes after death? Do you think of life in two parts – one part that we are living now, which ends when we die, and then a second part, eternal life (or getting to heaven)?

When I have asked those questions, most answer: the afterlife is an entirely different life than our present life, whether you believe in God or not. In order to get to heaven (eternal life), you have to die (so this life ends).

Is this belief biblical? Or is it more like: when you die physically, you actually continue to live on, just in a different place? Maybe you haven’t given this much thought but it is really important to consider.

We typically think about our existence as two entirely separate lives, but Jesus spoke of  one life that continues into eternity because we believe in Him. He said that our life here (on earth) actually impacts our life there (in heaven).

For the Son of Man is going to come in the glory of His Father with His angels, and WILL THEN REPAY EVERY MAN ACCORDING TO HIS DEEDS.

In other words, the consequences of our actions while we are here on earth are actually meaningful in eternity, yet most just “live for today” not considering any future return from the investment of our present lives. We often quote “He/she will reap what they sow” and typically are thinking about consequences soon after the action(s) occurs, not in eternity. This, of course, is true in the example of the farmer who sows seed to reap a harvest later in the fall of the year. It is interesting that the next verse following Gal. 6:7 (reaping and sowing) references reaping “eternal life,” connecting our life in the present with our eternal destiny.

Maybe we live our lives with too much of a disconnect from the eternal life that we are promised. I read something interesting from Mark Batterson’s book entitled “If.”

In the Screwtape Letters, C.S. Lewis demonstrates that God wants humankind to attend chiefly to two things: “to eternity itself, and to that point in time which they call the Present. For the Present is the point at which time touches eternity.
In light of that truth, Screwtape, the veteran demon, advises a novice named Wormwood with these words: “Our business is to get them away from the eternal, and from the Present. With this in mind we sometimes tempt a human … to live in the Past.”

Two things grabbed my attention:

1. The Present is the point at which time touches eternity

2. The conversation between demons discussing their business of distracting humans “away from the eternal.”

heavenly mindedOur present lives today are meant to be lived in a manner that touches or impacts eternity. In order for that to happen, we must have an eternal perspective which will impact what we value.  If all we do is live for today, we may be living a distracted life, distracted from what should be our true priority.

C.S. Lewis says it this way:

If you read history you will find that the Christians who did the most for the present world are those who thought most of the next.

This means the idea about being “so heavenly minded that you are no earthly good” is a fallacy.

Do you feel you are only living for today?  Would it be more impactful today if you could gain an eternal perspective?

Father’s Day Reversal

Father’s Day Reversal

Well this Father’s Day will be the most different of any that I can remember. I don’t expect to see any of my children today and my wife is not even with me, because she is with her Dad today, which is pretty special for her.

Since I have been asked to share this morning in a local church I have been thinking, “What is Father’s Day all about anyway?”  Here is the brief history of this special day:

Some credit the first Father’s Day celebration to Sonora Smart Dodd for honouring her father, a veteran of the Civil War, who raised his family as a single Dad when his wife died giving birth to their sixth child. To show her appreciation for her father’s efforts, after listening to a church sermon on Mother’s Day in 1909, Sonora initially suggested that there should be a day to celebrate him and other dads like him in the State in which they lived and farmed. After much campaigning, the first Father’s Day was held in Washington State on June 19, 1910. Although Father’s Day was celebrated throughout the U.S. as an unofficial day for Dads after that date, it was in 1966, Lyndon B. Johnson, through an executive order, designated the third Sunday in June as the official day to celebrate Father’s Day. It wasn’t until 1972, during the Nixon administration, that Father’s Day was officially recognized as a national holiday.

While it’s great to celebrate Dads, I’ve been thinking that I need to celebrate my children. Here is what I mean: if you think about a fathers role, isn’t it about investing your life into your children? I take this lesson from our Heavenly Father. When Jesus was baptized here is what Scripture records in Mark 1:10-11.

As soon as he came up out of the water, he saw the heavens being torn open and the Spirit descending on him like a dove. And a voice came from heaven: You are My beloved Son; I take delight in You!

Three things to note for Dads:

1. The heavens were opened

Our inspiration needs to come from heaven, that is where the initial example of fatherhood comes from. Heaven was obviously closed but opened up or was “torn open” for a reason. Most of us just think about heaven as a place prepared for us, that we will go to when we die. Isn’t heaven is so much more? Can heaven impact our world today? I believe heaven is what sustains the earth (see Hebrews 1:3) so in that sense sustains everyone on the earth.  That is what makes the Lord’s prayer so powerful, it is asking heaven to open and influence the earth!

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2. A voice from heaven (the Father spoke)

When I think about my voice being heard I realize I need to think before I speak. As I reflect on the words I’ve spoken to my children, sometimes in anger and frustration, I must ask for their forgiveness. The words spoken in my wedding vows come to mind: “… always speak words of grace that will build you up.” The word “always” stands out to me. I have never forgotten those words but have often fallen short of them. I cannot claim that my words are always inspired by heaven because they are at time influenced more by the earthly challenges I deal with from day to day. My prayer this morning is: “May I look more to heaven before I speak words to my children.”

3. Words of love and acceptance

The time of baptism is seen as the beginning of Jesus’ ministry so in one sense He hadn’t accomplished too much in life because he was just getting started. However, He was a carpenter so maybe more was accomplished than we may typically think about. Why was the Father pleased? I think the reason is pretty simple: the Son was on the earth and moving toward His purpose. He was an example to us and contributed in His world before His baptism and most certainly after these words were spoken to Him. Did it matter what He had done? The Father was “well pleased” and expressed exactly that to the Son.

Today I want to reverse Father’s Day! Instead of waiting for messages from my children, to celebrate Father’s Day, I want to send them a message:

“I’m very proud of you, not for what you have accomplished or will accomplish in your life, but simply because you are my child! You are on this earth and moving toward your purpose! You are a gift to me and I will always love you. Whatever difficulties you may face in life, I pray you will always feel you can come to me and find a place of acceptance. After all, I am your father!”

Happy Father’s Day!

 

 

 

Estate Planning vs Legacy Planning

Estate Planning vs Legacy Planning

I have been very intrigued by the content in this month’s Kingdom Advisor’s study group centring around legacy and the importance of having an impact beyond my lifetime. Everyone was challenged with the difference between estate planning and legacy planning. In particular, legacy planning not only represents a change in terminology, but it changes the lens through which we see things. Specifically, estate planning has a one-generational focus (transferring wealth to your heirs) while legacy planning looks to impact 5-7 generations (transferring values to multiple generations). That requires a bigger vision and a broader perspective than advisors or clients typically focus on.

Financial professionals are uniquely positioned to invest in the lives of clients. I know as an advisor my discussions focused more on Estate/Wealth Planning rather than Legacy Planning, so this study stretched me to expand my thinking.

Screen Shot 2017-11-28 at 10.31.44 AM

My parents are presently visiting with us and this past weekend our son and grandson visited, so we had four generations in our home. My Dad shared stories with us about how his faith and relationship with God were developed as a young minister and also the impact his own father had upon that faith. Most of these stories I had heard before but my son and daughter-in-law listened intently while baby Ernest slept through it all. I thought how important this time was and wondered if generations yet unborn would benefit from hearing the same stories. To see how God was active in the lives of my parents and grandparents helps to inspire my faith so I am sure it can impact others.

4generationsThink about the business of family for a moment – isn’t it truly about legacy planning?

I will teach you hidden lessons from our past–stories we have heard and known, stories our ancestors handed down to us. We will not hide these truths from our children; we will tell the next generation about the glorious deeds of the LORD, about his power and his mighty wonders. For he issued his laws to Jacob; he gave his instructions to Israel. He commanded our ancestors to teach them to their children, so the next generation might know them–even the children not yet born–and they in turn will teach their own children. Psalm 78:2-6

These verses instruct families specifically to focus on legacy planning which is clearly beyond one generation. I encouraged my Dad to write these things down so the events of his life could be passed on to the children not yet born. That way, his life reaches beyond his years lived on this earth. Many people may feel estate planning is just for those who have wealth, but legacy planning is for everyone.

Ron Blue provides some excellent advice in his book “Splitting Heirs,” when he describes the “Wisdom Principle” which is to “transfer wisdom before wealth. Wealth never creates wisdom. Wisdom may create wealth.” If you think about it “wealth” is the focus of estate planning, while “wisdom” is the focus of legacy planning.

We need to think deeper about the time we are each given. We all have 24 hours per day, and 168 hours per week. On the topic of stewardship Ken Boa says,

“What differentiates people isn’t the amount of time available to them, but the manner in which they exercise their gifts and talents within the available time. We can waste time; we can spend time; or we can invest our time wisely. That’s what stewardship is about: faithfully developing and using our gifts, talents and resources within the amount of time God has allotted to us.”

We have time in an equal measure, but we must be intentional about how we spend it or invest it. The fact is that we often just spend our time when we should be investing it.  Talents are not in equal measure to everyone. We are unique and each has different gifts. Our focus tends to be more about using these gifts to grow wealth and much less  about the growth of our heirs.

Thinking beyond our life can be very challenging because it stretches us outside of our normal pattern of thought. Maybe our perspective needs an adjustment so we consider more the impact we can have upon “the children not yet born.” That takes intentionality and a shift of focus. Our efforts must move toward transferring our values and wisdom  as a guide to govern future generations and less effort on accumulating and transferring wealth. It seems if we get the legacy planning right, the estate planning will be so much easier.

The accumulation and eventual transfer of wealth is a major part of financial planning. If we fail to give proper attention to the legacy planning, we have truly missed the reason that we were entrusted with the wealth in the first place.

Are we spending our time creating something that will only benefit one generation? Can we be more intentional in our investment of time and leave a legacy that extends 5-7 generations?