Living your legacy A legacy is more than what you leave behind when you die. It's also what you give as you live - Thrivent
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Living your
legacy
A legacy is more than what you leave behind when
you die. It’s also what you give as you live.
By Kathleen Childers
W
hat does legacy mean Am I giving of myself? Am I leaving to leave the world a better place.
to you? Traditionally, it the world a better place?” If you want to volunteer but aren’t
refers to leaving behind The answers can inspire you to sure for what cause, start by
something upon death, take action. You might volunteer your identifying your interests and values.
like money or property. But there’s time at a shelter, make donations to a Then look for organizations that
another way to think about legacy favorite cause, organize a way to feed do work in those areas. Search
that’s about the present. people who are homeless or use a online or ask friends and family
For Pastor Esteban Mesa and his financial tool to structure your giving. for recommendations.
wife, Miriam, legacy is about sharing Whatever you choose to do, actions Keith Berman, the Mesas’
their time and talents today in service you take today are your living legacy. Miami-based Thrivent financial
to others. consultant, has clients who tell him
To the Wold family—Catherine and Volunteer your time they want to help but are unsure how
her children and grandchildren—it’s Pastor Esteban and Miriam Mesa to get started.
about living out and passing on the have led a life of service in Miami. “I start asking them questions,” he
values demonstrated by her late “It’s what we’ve been called to do,” says, “about what causes they care
husband, David. says Esteban. He served 30 years as about. Often, I can connect them
Both the Mesas and the Wolds a Lutheran pastor and nine years as with others I know in the community
are practicing what can be called a a hospice chaplain. Esteban recently who may have service opportunities
“living legacy.” It’s based on the idea retired, but he and Miriam continue for them.”
that you can pass along your legacy their commitment to volunteering, Thrivent is also a resource for
Photo by VisualCommunications/Getty Images
while you’re alive, whether it’s your helping to provide food and clothing volunteer opportunities.
values, passions, time or money. to people in need in their region. “Eligible Thrivent clients can apply
Mandy Tuong, president and “We care about people in need,” says to organize a Thrivent Action Team to
CEO of Thrivent Charitable Impact Esteban, “and that’s why we show up help a favorite cause. Or anyone can
& Investing™, has noticed increased in the community.” volunteer on someone else’s team,”
interest in this concept in recent years You might not be inclined to says Ryan Hahler, director of Member
and encourages clients to embrace volunteer with the same intensity Engagement Strategies at Thrivent.
the idea. “It starts by asking yourself as the Mesas, but any amount of (Learn more about Thrivent Action
some questions,” she says. “Am I volunteer work is a way to live your Teams and other Thrivent programs
doing something good when I can? legacy because it reflects your desire in “Ways Thrivent can help.”)
24 | Thrivent Magazine | Fall 2021 thrivent.com | 25
an IRA directly to charity. The QCD
also will count toward satisfying
Deciding what to support your required minimum distribution
(RMD) from your IRA.
Are you interested in a living legacy but aren’t sure what causes you’d like
to support? These questions from Thrivent Charitable Impact & Investing Pass along your values
can help you identify your interests. Your values—the way you see the
world and your role in it—are also
• Do you actively volunteer with any organizations? part of your legacy. They’re import-
• What organizations or institutions have provided the greatest influences ant to you, which likely makes them
in your life (for example, church, school or college, community, etc.)? important to your loved ones.
• What appeals to you about your favorite charities? So how do you pass along
• Would your financial support to any organization or charity be missed if something that’s not tangible? Much
it ceased? of that happens by example, being a
• Are there societal issues you wish to address? role model for others as you live your
life day to day.
Once you narrow your interests, you can research organizations and look But you can be more intentional
for ways to support them. about it, too. One way is to have
conversations with your family and
friends about why you care about
certain causes and how you would
Start an organization or create an was able to deliver more than 200 Above: For the Wolds, being charitable is like to impact the world.
opportunity to fill a need Thanksgiving baskets last year. a family affair. They decide together which designated amount of the fund is making grants from the fund soon The Wold family discovered that
organizations receive grants from their
Supporting a cause isn’t always a At other times during the year, charitable fund. granted to charities of your choice. after his death. sharing values is an outcome of
once-and-done effort. For ongoing the Mesas and members of their There are several other benefits You don’t need to be wealthy to managing their charitable fund.
needs, like supplying food or family cook food at their home that to structuring your donations this open a charitable fund. Some have They’ve established an annual ritual
providing transportation, consider they then deliver to people in need, way, including: no minimum requirement though around the fund. Every December,
creating an organization that along with clothing and blankets. • You can give when it’s right for you. there can be minimum amounts for the entire family of 17—Catherine
supports the cause. They manage all of this even Structure your donations • There are potential tax advantages. grants, but they can be as low and her children (Nick, Rebecca
Fifteen years ago, the Mesas though the ministry isn’t a Making donations to favorite causes • Grants are scheduled so you as $100. Wold Freeman and Rachel McArthur)
volunteered to teach English to formalized organization. is another example of a living legacy. know where your money is going “Our grants aren’t huge,” says and grandchildren (ages 5 to 16)
immigrants. Not long after they Are you interested in creating a Some people donate as they become and when. Nick Wold, Catherine and David’s gather for a dinner to discuss their
started, it became clear that more formalized nonprofit organi- aware of a need while others donate • Statements detail your giving. son. “But we know that even a small ideas of where they see needs and
their students were struggling for zation or maybe an informal on a set schedule. But as the idea • Grants can be made in honor or amount can make a difference to vote on which organizations they’ll
adequate food and clothing. So “movement” to help others? “It’s of a living legacy has become memory of someone. an organization.” give grants to. Everyone’s votes
the Mesas, along with Xiomara not uncommon among our donors,” more popular, many people have • Scholarships can be created with You also can use your investment have equal weight.
Rodriguez, a friend and member says Tuong, “because they are so embraced another way of donating, certain funds. assets to make a difference “My dad wanted this to be a
of their congregation, created a generous both financially and in through charitable funds. • Cash or assets can be donated. directly or use them to establish a family effort,” says Nick, “and we
ministry to serve those needs. volunteering. We’ve had donors who “People are establishing charitable • Grants can be made to support a charitable fund. There may be some wanted to carry on his legacy of
It started with delivering used their financial blessings to do funds to make grants to their favorite nonprofit that you start. tax benefits.* living and giving.”
Thanksgiving meals. “I asked the simple but wonderful things—like causes,” says Tuong, “so they can Consider these options: The Wold family members are
president of the local Kiwanis Club run community gardens to teach see the impact of their contributions.” The Wold family has been granting • Gift a portion or all of your nonretire- very close, and they spend a lot of
for help,” says Esteban, “His group kids about healthy eating and These financial tools are investment money from a charitable fund for ment account mutual fund shares to time together throughout the year.
was able to provide 45 meals and personal discipline, or starting an funds. Here’s how they work: You several years. David set it up with a charity of your choice through a But the annual fund gatherings have
Photo by David Bowman
baskets, which we delivered.” effort to bring more kindness to open a charitable fund with a his father about 10 years ago. They transfer of ownership. inspired everyone to be more
Esteban also enlisted the help everyday interactions in honor of contribution, and you choose planned to grow the fund and hadn’t • Anyone age 70½ or over can elect aware of needs in the world. And
of churches throughout the area, their late child who lived by that how that money is invested. Any yet started making grants from it a Qualified Charitable Distribution they’re fun.
of all denominations. As a result of principle every day.” earnings the fund may generate when David died three years ago. To (QCD), which allows you to distrib- “We love to see the kids come
the combined effort, the ministry are reinvested. A percentage or honor him, the family decided to start ute up to $100,000 per year from together for these dinners,” says
26 | Thrivent Magazine | Fall 2021 thrivent.com | 27
Rebecca. “It encourages them to
look outside of their own lives.”
The kids are both students and
teachers, as they hear about various
causes and offer their own ideas.
And sometimes, they share about
how they support charities with
others. “My kids will talk with their
friends about the fact that they’ve
given to different causes,” says
Rachel. “Even my 5-year-old talks
about how she’s helping animals
with her friends.”
The experiences with the fund
have led to other broader discus-
sions about giving. “It makes us
realize that the places we give
financial help to are also places we
can give our time and volunteer,”
says Catherine. “It makes the kids
think about that, too. Besides the
financial part of it, what else can
we do?” How Thrivent can help
That’s a living legacy at its best. n
• Talk to your financial professional for more information about financial
Kathleen Childers is a writer in tools and concepts that can help you maximize your giving while
Minnesota. you’re living.
• Learn more about Thrivent Charitable Impact & Investing™ and the
ways you can donate assets or create a donor-advised fund. Go to
thriventcharitable.com.
• Find out how you can use your Thrivent Mutual Funds to inspire
Thrivent Charitable Impact & Investing™, generosity at thriventfunds.com/giftingshares or by talking to your
a separate legal entity from Thrivent, the financial professional.
marketing name for Thrivent Financial
for Lutherans, is a public charity that Thrivent also has several programs available to help you live your legacy:
serves individuals, organizations and the • Thrivent Action Teams: Support your community by applying to lead
community through charitable planning,
a team for a fundraiser, educational event or service activity. Thrivent
donor-advised funds and endowments.
Thrivent Charitable Impact & Investing provides the resources you need.
works collaboratively with Thrivent and its
financial professionals. • Thrivent Choice: Direct Choice Dollars® to organizations and causes,
and influence how Thrivent distributes some of the program’s funding.
*Thrivent and its financial professionals
Photo by SDI Productions/Getty Images
do not provide legal, accounting or tax
• Online giving platform: Make a donation to one of the more than
advice. Consult your attorney or
tax professional.
40,000 organizations enrolled in Thrivent Choice. Thrivent pays the pro-
cessing fees so 100% of your donation goes to the organization.
Member benefits, programs and activities
are not guaranteed contractual benefits. Thrivent Action Teams and Thrivent Choice are open to eligible
You should never purchase or retain any Thrivent clients. Learn more at thrivent.com or contact your Thrivent
insurance or annuity products simply to be financial professional.
able to participate. Participation is subject
to applicable Terms and Conditions.
28 | Thrivent Magazine | Fall 2021You can also read
