How should Jesus’ radical teachings on generosity and justice shape the decisions Christians make about their giving? Trevor Thomas explores.
It can be tempting to think “I chose the wrong parents” when thinking about money, particularly in relation to any potential inheritances!
Growing up, my siblings and I were surrounded by love, security, and generosity, but there was no safety net of generational wealth to cushion our futures. No bank of mum and dad, and no likelihood of enough of a bequest to make a big super top-up early in retirement or to buy a weekender down the coast.
My kids probably feel a bit differently and may have different expectations. The economic challenges they face as young adults have intensified significantly since I was in my twenties; on the other hand, our economic capacity is spread across two, not four, children.
As a financial adviser, I witness firsthand how Australian families grapple with the challenges of structuring their affairs when they die. I see a wide range of approaches: from aging parents living very frugally to pass on as much as possible, to those prepared to leave a small inheritance so long as they are no burden to their kids, to others who think the promise of a large inheritance can stifle independence and motivation in their children, and so leave significant funds to charity.
While many retirees in Australia struggle to survive on the age pension, particularly if they are renting, others have seen their situations improve in retirement. Rising property values and superannuation investments mean increasing numbers are leaving estates worth millions.
The Bible has a lot to say about money and economics. God effectively established an economic system for Israel in the Old Testament, founded on the baseline principle that “the Earth is the Lord’s and the fullness thereof” (Psalm 24:1). If everything is God’s, then God is interested and invested in what happens to it, and how we choose to divide up the bounty that we collectively steward on God’s behalf.
Old Testament economic laws were designed to ensure fair weights in markets and fair rulings in the courts. Families could prosper if things went well, but there were also limits on inequality and specific provisions for the poor and marginalized to have access to the basic resources they need to survive.
(A good example is the gleaning laws, where the edges of the harvest were left for the poor, the widow, and the orphan.) Jesus echoed these concerns in his ministry to the poor, the leper, the prisoner, and the sex worker.
One radical Old Testament law, on top of the forgiveness of debts every seven years (!!), was the return of property to its original owners every fiftieth, or Jubilee, year. This was a complete reset of wealth distribution every second generation—not just income but productive land, the very foundation of wealth in that pre-industrial society!
The Earth is the Lord’s and the fullness thereof.
The closest that modern economies have come to this major redistribution of wealth between generations is inheritance taxes. These taxes (sometimes called “death duties”) impose a tax on the value of a person’s estate, which spreads the benefit of the estate beyond the family, through the government.
These tend to be quite unpopular and were discontinued in Australia in 1979 by the Fraser Government, although other countries retain them. (A tweak to superannuation rules means that death benefits paid from the taxed portion of your superannuation balance attract a 15% tax if paid to anyone other than a partner or minor child—but that is only a fraction of most estates.)
While they are unpopular, inheritance taxes are very equitable! Why should the child of rich parents get a headstart in life, if all are born equal under God? Intergenerational inequality is one of the starkest features of modern Australian life, and it is getting worse as wealth cascades down the generations.
I was shocked to learn that only 1% of the money distributed from Australian estates goes to charity. The remaining 99% goes to family and friends! And of that 1%, very little goes to addressing global poverty and injustice: animal and healthcare charities are the most popular recipients of bequests.
While they are unpopular, inheritance taxes are very equitable! Why should the child of rich parents get a headstart in life, if all are born equal under God?
Estate planning isn’t just a legal task; it’s a profound expression of your deeply held values. As Christians, how should Jesus’ radical teachings on generosity and justice shape our decisions? His example of sacrificial generosity, radical empathy, and self-giving love challenges every bone in our body. Shouldn’t this be evident when we plan how our assets are distributed?
Jesus’ words in Mark 3:31-35 resonate here. He stretched the definition of family, seeing beyond biological ties to those who shared His mission. This redefines legacy. Our wealth shouldn’t just stop at our immediate circle; it could, and perhaps should, reflect a wider embrace of humanity.
Martin Luther is reputed to have said that a person’s wallet is the last part of them to be converted. But if we are followers of Jesus, someone reviewing our bank statements should be able to see that document as a clear testimony to our faith, and the things we really value. The same should be true for our Wills.
Tearfund has been a great help to me in thinking through these challenges over the years. Before kids, our Wills left just about everything to charity, and Tearfund was the main vehicle for ensuring that we included our global family in those key documents.
When our kids were little, and we had a mortgage (with our little co-living community), our Wills reflected the need to provide for the girls in the event of our death, and to make sure the people looking after them had enough to provide appropriate care. We nominated an amount of 5% of the total to go to our preferred charities. Now, as our daughters are becoming financially independent adults, our Wills allocate 10% to charity and split the rest between them.
We expect that the next iteration of our Will, as we move into retirement, and they are more established financially, will move the dial further in the charitable direction.
In Mark 3:31-35, Jesus stretched the definition of family, seeing beyond biological ties to those who shared His mission. This redefines legacy. Our wealth shouldn’t just stop at our immediate circle; it could, and perhaps should, reflect a wider embrace of humanity.
In planning for life after us, the temptation to close ranks and focus solely on family is strong. There are good reasons for this, and many families have only been able to make ends meet, and boost their retirement savings to an adequate level, because of a timely inheritance.
However, where we have the capacity, and our families are in reasonable shape financially, maybe it’s time to open the circle? Maybe it’s time to “remember the poor” (Galatians 2:10) when we sit down with our solicitors. For many of us, that will mean bequests of more than the 1% average, and for some, well above 10%.
Many families I’ve worked with strive to be scrupulously even-handed—and do that in different ways. I think the way to start is to look at how much you want to give outside the family, and then how to divide the remainder in the way that makes the most sense to you. Sometimes parents just leave money to their children.
Other times, I’ve seen parents add one more to the number of their children, to make available for their grandchildren. For example, a person with three children and six grandchildren might divide the money for the family four ways, leaving 25% to each of the three children, and dividing the final 25% between the grandchildren.
Wouldn’t it be powerful if the assets we stewarded in life continued to speak of God’s love and justice long after we’re gone? Wouldn’t it be great to live in a world where you didn’t need to choose the right parents in order to get a good start in life?
