What is Legacy Giving?
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Legacy Giving refers very broadly to any planned gifts given from your assets or estate that supports the ongoing mission and ministry of Williamsburg Baptist Church into the future. Legacy gifts offer a way to connect the current generation at WBC to future generations and to continue to support the mission of our community of faith even when we ourselves are gone.
Most often, people think of charitable bequests in a will or trust when they think of Legacy Giving, but there are other ways to make legacy gifts, as well—more on that below. |
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Why should I consider making a legacy gift?
Many of us choose to make legacy gifts because we love our church and we want to make a lasting impact on its mission in our community and world. Making end-of-life plans is good stewardship of the time and gifts and resources that God has given us all. If we are careful and intentional about how we spend money during our lifetimes, why shouldn’t we also think carefully and plan for how it will be used after we are gone?
According to our friends at the Church Benefits Board (CBB), only 29% of adults in the U.S. have an up-to-date will. That means 71% of adults either don’t have a will or it is out of date! Of those, less than 7% of wills include some sort of charitable bequest included. And of those: only 8% include some sort of charitable bequest to a church! That means a lot of faithful, life-long church folk just haven’t thought to include their community of faith in their end-of-life financial plans.
Consider this note from our pastor, Rev. Dr. Art Wright: “My wife and I had new wills prepared in January 2020, when we were just about to go on a big trip together. In the event of a worst-case-scenario on the trip, we wanted to make sure to leave clear instructions for who would care for our children. But we also included plans in these wills to make significant donations to our church and a couple other organizations we support financially. We had given faithfully each month to our previous church, and now we give monthly to Williamsburg Baptist, because we see God at work in profound ways in and through each of these communities. Moreover, their impact on our lives has been transformational—and we have felt so much love and support from both communities over the years. When it came time to prepare our wills, we knew we wanted to include a significant bequest because we want to support the amazing work that this community of faith is doing into perpetuity—even if we aren’t still around to see the fruits of our labor.”
According to our friends at the Church Benefits Board (CBB), only 29% of adults in the U.S. have an up-to-date will. That means 71% of adults either don’t have a will or it is out of date! Of those, less than 7% of wills include some sort of charitable bequest included. And of those: only 8% include some sort of charitable bequest to a church! That means a lot of faithful, life-long church folk just haven’t thought to include their community of faith in their end-of-life financial plans.
Consider this note from our pastor, Rev. Dr. Art Wright: “My wife and I had new wills prepared in January 2020, when we were just about to go on a big trip together. In the event of a worst-case-scenario on the trip, we wanted to make sure to leave clear instructions for who would care for our children. But we also included plans in these wills to make significant donations to our church and a couple other organizations we support financially. We had given faithfully each month to our previous church, and now we give monthly to Williamsburg Baptist, because we see God at work in profound ways in and through each of these communities. Moreover, their impact on our lives has been transformational—and we have felt so much love and support from both communities over the years. When it came time to prepare our wills, we knew we wanted to include a significant bequest because we want to support the amazing work that this community of faith is doing into perpetuity—even if we aren’t still around to see the fruits of our labor.”
What constitutes a legacy gift?
In addition to including Williamsburg Baptist Church in your will or trust, you can also name our church as a beneficiary of a life insurance policy. But you don’t even have to die to make a legacy gift! (And to be honest, we’d prefer if you didn’t!) You can also donate stocks and other securities to the church, which may help save you money when you file your taxes. You can make gifts through your retirement plan, especially if you have to take required minimum distributions—again, this can help decrease your tax liability. You can gift property or real estate to the church (especially if you have a really nice boat!). And lastly—you can simply donate directly to our endowment funds—especially if you receive an inheritance or cash gift of some sort and want to share it.
More information and resources on all of these options are included in the pamphlet available for download on this webpage! Our friends at the Cooperative Baptist Fellowship Church Benefits Board (CBB) would also be glad to help you make plans to make a legacy gift.
More information and resources on all of these options are included in the pamphlet available for download on this webpage! Our friends at the Cooperative Baptist Fellowship Church Benefits Board (CBB) would also be glad to help you make plans to make a legacy gift.
What is the WBC Legacy Gift Guide?
This is a wonderful resource prepared by our friends at the CBF Church Benefits Board. It includes information about legacy gifts as well as links to resources to help you make a legacy gift. It even includes links to create a free will if you don't have one already! Finally, the downloadable pdf also has contact information for the Church Benefits Board if you'd like to contact them for help with preparing to make a legacy gift.
We hope you'll download this resource and take time to look through it, if you haven't already. There are also paper copies available at the church! |
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Is there a Minimum Amount that can be considered a Legacy Gift?
We would love for you to include Williamsburg Baptist Church in your will or trust, or however you plan to make a legacy gift. What you include is up to you. Some people may designate 10% of their estate as a gift to the church. Others may plan to designate whatever percentage that they include in their regular tithes and gifts to the church. To be honest, any amount you choose will make a significant impact in the life of this congregation!
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How will my legacy gift be used?
There are many options for you to consider. You can simply make an undesignated gift to the church, in which case our church leadership will decide how best to use it based on our current and future needs.
You can designate a legacy gift to one of our endowment accounts that support various aspects of the life of our church, such as mission engagement, church buildings and grounds, music ministry, scholarships for higher education, Christian education, and more! |
How can I give a Legacy Gift?
If you are interested in making a legacy gift, we are happy to help! Our friends at the Church Benefits Board have prepared a very helpful downloadable pamphlet that describes different ways of making a legacy gift. They are also happy to help church members make a plan for a legacy gift! More information is included in the pamphlet!
There are even resources in the pamphlet for preparing a free will if you don’t have one!
You can certainly reach out to us in the church office and we’d be glad to help talk through options and connect you with someone who can help you make a plan that you feel good about.
There are even resources in the pamphlet for preparing a free will if you don’t have one!
You can certainly reach out to us in the church office and we’d be glad to help talk through options and connect you with someone who can help you make a plan that you feel good about.