Legacy Planning
Wills & Bequests
Wills and Bequests
Beloved, there are many avenues for legacy planning, and creating a will is one way to effectively steward your resources in time to come. If the Lord leads you to include the ministry in your will, know that your gift could reduce the taxes your heirs have to pay on your estate.
As this may be the largest gift you’ll ever give, we understand there may be many questions that come to mind. And that is exactly what our legacy planning team is here for—to answer questions toward helping you prepare, plan, and manage your resources efficiently. If you have young children, you’ll also have a plan in place naming who will care for them.
A legacy plan starts with “today” and extends beyond your lifetime as your resources will enable our ministry to continue sending the liberating gospel of grace into homes all over the world and transform precious lives forever.
Wills & Estates
A will is your legal document that ensures your estate wishes are carried out as you intend and that your family and loved ones are cared for. When a will is not present in a person’s estate plan, the state in which they own property and assets will make the decisions for the estate. To help you prepare for the estate planning process, please download the Personal Data Sheet to get started.
Failing to create a will means:
- You will have no say in how your assets are distributed.
- The court will set the distribution pattern of the inheritance.
- The court will choose a guardian for your minor children.
A part of creating your will includes identifying and naming your executor in the will. An executor is the personal representative that you appoint to ensure that your wishes are carried out. To help you understand more about the role of an executor, please read this Executor Information Brochure.
However, we understand that a will may not be the best plan for you and your family. This is because a will does not avoid probate when you pass, and must be validated by the probate court before it can be enforced. Read more about Living Trusts to help you make an informed decision on what’s best for you.
If you are ready to create your Last Will and Testament, we invite you to prayerfully consider including a gift to Joseph Prince Ministries. When you include Joseph Prince Ministries in your will or living trust, you continue your giving beyond your lifetime. It allows you to maintain full control over your assets during life while making a future gift from your estate, when you longer need it. Below, you will find sample language that you can include in your Last Will and Testament.
Sample Bequest Language
Fixed Dollar Amount:
I give, devise, and bequeath to Joseph Prince Ministries, a nonprofit organization located in Fort Mill, SC, or its lawful successor, the sum of $_______ to be used as determined by its Board of Directors in furthering its mission and supporting its goals.
Percentage of Estate Language:
I give, devise, and bequeath _____% to Joseph Prince Ministries, a nonprofit organization located in Fort Mill, SC, or its lawful successor to be used as determined by its Board of Directors in furthering its mission and supporting its goals.
Residual Bequest Language:
After all your estate expenses and specific bequests have been distributed, the remaining or residual funds are given to Joseph Prince Ministries.
I give, devise, and bequeath to Joseph Prince Ministries, a nonprofit organization located in Fort Mill, SC, or its lawful successor, all (or a certain percentage) of the rest, residue and remainder of my estate, both real and personal to be used as determined by its Board of Directors in furthering its mission and supporting its goals.
Contingent Bequest Language:
You may designate Joseph Prince Ministries as a contingent beneficiary if one or more of your specific bequest wishes cannot be fulfilled.
If (insert name) is not living at the time of my demise, I give and devise to Joseph Prince Ministries, a nonprofit organization located in Fort Mill, SC, or its lawful successor, the sum of $______ (or all or a percentage of the residue of my estate) to be used as determined by its Board of Directors in furthering its mission and supporting its goals.
Include This Paragraph with Your Specific Bequest Language:
Joseph Prince Ministries (JPM) is a nonprofit organization and is qualified for tax exemption under Section 501(c)(3) of the Internal Revenue Code. Joseph Prince Ministries’ tax identification number is 20-8090240.