Splitting Heirs
Ron Blue -
How can parents give their money and things to their children without ruining their lives? Splitting Heirs seeks to answer that question, offering practical, biblical counsel on important issues such as leaving an inheritance that helps your heirs without spoiling them, communicating your desires the right way at the right time, navigating the legal and tax issues surrounding your estate, deciding which ministries to support, and more.
Strengths
Unique Perspective. One of Ron Blue's best known quotes is "Do your give'n while your live'n so you're know'n where it's go'n." Rather than focus on detailed tax strategies and the mechanics of distributing assets at death, Splitting Heirs emphasizes how best to deploy the resources God has entrusted to us to do the most good during and after our lifetimes.
Decision-Oriented. Let's face it - when it comes to estate planning, many procrastinate and put off what they perceive to be an unpleasant subject. Splitting Heirs recognizes this common reality, and not only addresses procrastination head-on, but then spends most of the rest of the book guiding readers chapter by chapter through a series of decisions about wealth transfer, treatment of children, timing of giving, ownership, planning tools, and communication about your plans with heirs.
Reader-Friendly. Sprinkled throughout the chapters about wealth transfer are well-chosen cartoons introducing each chapter, large-type reflection questions, real-life stories of noted philanthropists and others that illustrate the point, and principles and examples from scripture. Each chapter ends with a thought-provoking "What If?" question pertaining to the topics covered in that chapter. This is followed by a "May I Ask a Follow Up Question?" which adds more insights in a Q&A style.
Succinct. Financial planning (in particular, figuring out who to name as beneficiaries of your estate and how much to leave each beneficiary) can obviously be a very complex and challenging process. One might expect, then, for a book on this subject to be several hundred pages long. Blue, however, has a wonderful ability of simplifying and summarizing complex issues, and was able to get his message across inside of 200 pages.
Sequence. For many, estate planning is first and foremost a matter of techniques and tax strategies. Blue turns this around, placing tools and techniques at the end of the planning process. Priority is given to first thinking through the "big picture" issues from a Christian perspective, determining goals, and making planning decisions. Once these key decisions are made, the appropriate tools and techniques can be selected and used.
Best for Last. At the end of the book in the Appendix, Splitting Heirs includes "The Best Inheritance of All." This section points out that the most important decision concerning our deaths is where we will spend eternity, and the greatest wealth transfer of all time happened over 2,000 years ago when Jesus, the son of God, died on a cross to pay the price for our sins. Selected verses are shared, summarizing how we can become heirs with God, followed by an invitation to receive Christ.
Things to be aware of
Blue is very gifted at articulating key concepts with memorable slogans. Some of the slogans, however, may have more impact if they were explained a bit more. For example, Blue says, "Never use a trust because of a lack of trust". It is implied that the trust issue may be with children. But if that is the case, wouldn't a trust (administered by a trusted friend or relative) be a responsible act of stewardship? Blue doesn't necessarily answer that question directly, but does recommend the use of various trusts.
Available at: www.crown.org