Freedom from the law of Old Testament taxation is not freedom to give less. It is freedom to give in the ways and the amounts that properly reflect our deep, abiding love and gratitude for our Father and His Kingdom. It should reflect our desire to give to Him with the same sacrificial abandon that He gave to us when He sent His son to rescue us.
How would you like to have the IRS fund your buy-sell agreement and make major gifts to the Christian ministries you care about all at the same time—without taking a penny out of your current cash flow?
The Banks were all followers of Jesus with a strong personal interest and involvement in supporting many different ministry efforts. They liked the idea of using some portion of this unneeded wealth to support the Kingdom causes their families cared about. Here was the dilemma. If Mildred gave these assets to the grandchildren, very little would actually get to them and nothing would go to support Kingdom causes.
When you employ common, often used, time-tested, creative planning techniques you can substantially reduce income taxes—all as a direct result of having developed a comprehensive and integrated Master Stewardship Plan.
It is far easier and cheaper to avoid taking ownership of wealth and the additional income it produces than it is to attempt to dispose of it once it shows up on your balance sheet and your 1040 income tax form. Like avoiding degenerative diseases, it takes strategic, advanced planning to deflect your wealth where you want it to go without it first coming to you.
Christian families should become informed taxpayers—avoiding all capital gains and estate taxes and paying as little as they possibly can in annual income taxes, so they will have more for themselves, more for their heirs, and more for the Kingdom of God.