en•dow verb 1. to provide with a permanent fund or source of income.

It's amazing how quickly summer can turn into fall and how our days can fill up. Now that students are back on campus and another year has started, that is certainly the case here at Covenant. Even in the midst of this busy season, I find myself really drawing a lot of personal encouragement and joy from the things I see God doing at Covenant College, and I want to share some of those things with you.

Over this past year, God has continued to provide for the mission and vision of Covenant in many ways, and there is a strong, shared sense of purpose, joy, and excitement that is palpable on campus. These are fun days to come to work!

We recently completed renovations on the Probasco Welcome Center, and it's great to see families and students enjoying this beautiful new space. From the moment they step on campus, they get a sense of what makes Covenant special?not only the beautiful setting of our campus, but the warm sense of community that we all know and treasure at Covenant. Downstairs in Probasco, our admissions team is flourishing in their new offices,

and their energy and dedication is one of the main drivers behind another big milestone we're celebrating?our largest incoming freshman class in school history! Last year's strong enrollment coupled with this incoming class of 351 new students (you heard that right!) means that we are enjoying having a full campus this year.

On the development side, this past fiscal year saw the highest annual fund in the school's history at just over $5 million. We are humbled and deeply grateful for everyone who gives to the annual fund, and it's been amazing to see how God is using you, along with so many others, to fulfill Covenant's vision of sending out builders who are equipped, known, and called to serve the Church and the world

I hope you can see why I'm energized and encouraged to serve at Covenant College each day. As we launch into another academic year, I invite you to enjoy with me these many evidences of God's provision. Thank you for your generosity, your commitment, and your prayers!

Marc M. Erickson '92 CFP®, CLU®
Executive Director
Covenant College Foundation

Common Estate Planning Issues
by STEVEN WYKOFF '99, Certified Financial Planner®

OVER THE PAST 20 YEARS as a personal financial planner, I have had the privilege of working closely with individuals as they have encountered important financial planning decisions. Some of the most difficult and challenging planning decisions that clients face are often in the area of gift and estate planning. This is often due to common issues such as the absence of a clear vision, the difficulty of navigating a complex tax and legal system, or the failure to keep the estate plan updated when their circumstances have changed. Estate planning can be challenging, but addressing the following questions can help you approach estate planning well-equipped to make prudent decisions.

What is my vision for giving?
As God pours out His blessings on us, we have the privilege of considering ways we can bless others through our generosity. This may include plans for current gifts during your lifetime or future gifts through your estate plan. A prudent estate plan starts with a clear and coherent vision. First, carefully consider who you wish to benefit through your giving. This may include your spouse, children, relatives, church, ministries, or other charities and causes. Consider which individuals and organizations are a priority and the amount or percentage of your gifts that may be appropriate for each. As you prioritize the potential recipients, consider the impact your gifts may have on various giftees. For example, a gift to

"A perfectly constructed estate plan may only be perfect for a moment. As circumstances change, your estate plan should change with it. Reviewing your estate plan is important as you consider whether your priorities and giving preferences have shifted."

an individual in need will have a greater impact than the same gift to an affluent individual. Second, consider the timing of your gifts. Do you wish to make current gifts during your lifetime so you can enjoy seeing how those gifts are used? Do you want the focus of your giving to be through your estate plan after your death?

It is not necessary to have all the answers to all the questions. In fact, whatever your vision is now, it will likely evolve over time. But it is essential to develop your vision for giving so that your estate plan can begin to take shape. As your vision becomes clear and the estate plan starts to take shape, you will begin to discern the best strategies and planning tools that will help you achieve your goals.

How can I maximize my estate by minimizing taxes?
The idea is simple?the less the amount of estate and income taxes paid, the greater the amount able to be given away. Unfortunately, our tax and legal systems are complex and they can change frequently. For that reason, it can be helpful to enlist a knowledgeable professional to help you navigate the complexities.

In a new development, the recently passed One Big Beautiful Bill Act made permanent a $15M Estate and Gift Tax Exemption. This means that estates that are valued less than or equal to $15M? which are most estates?will generally be exempt from the federal estate tax. This new permanent

Apollo Road Property

The Covenant College Foundation is proud to announce the acquisition and official opening of a new property located adjacent to the college at 1 & 3 Apollo Road, Lookout Mountain, GA, 30750. This distinctive property, consisting of approximately two acres, includes a 3,700 square foot home that was designed and built by the same architect and builder as Carter Hall. The property includes two accommodation spaces available for rent to friends of the college, featuring a guest house of 1,400 square feet, and a separate, smaller apartment on the ground floor of the main house. There is also considerable outdoor entertaining space.

The property houses our alumni, constituent relations, and church relations offices and is conveniently located at the bottom of Covenant's main drive. The Apollo Road property is a blessing to the ongoing strategic work of the college and the foundation, and we invite you to stop by and visit the next time you're on the mountain.

exemption allows most individuals to shift their focus to minimizing income taxes generated from their estate, rather than avoiding estate taxes. Some strategies to consider for minimizing income taxes include giving tax-heavy assets?such as taxdeferred IRAs and 401ks?to tax-exempt charities, and giving tax-friendly assets?such as Roth IRAs, bank savings, and brokerage account assets?to individual beneficiaries (like family).

To minimize income taxes on current giving, take full advantage of the Qualified Charitable Distribution (QCD). This strategy allows individuals age 70 ½ or older to make direct gifts from their IRA to a charity. In 2025, individuals can give up to $108,000 (and married couples filing jointly can give up to $216,000) to charity and have it count as a QCD. These QCDs are excluded from taxable income, thus preserving many tax benefits available to retirees.

Has my estate plan evolved along with changes in my life?
A perfectly constructed estate plan may only be perfect for a moment. As circumstances change, your estate plan should change with it. Reviewing your estate plan is important as you consider whether your priorities and giving preferences have shifted. Perhaps you have a new passion or cause you wish to support. Perhaps an organization previously included in your estate plan no longer exists or no longer aligns with your beliefs. As part of a periodic review, it is important to

reexamine the beneficiary designations on your retirement accounts, life insurance, and TOD/ POD accounts such as bank or brokerage accounts. Do you have primary or contingent beneficiaries that are no longer living? Are there more children or grandchildren in your family since your last update? Have certain assets in your estate grown quicker than others, necessitating changes to their assigned beneficiaries? Does your Will still capture your intentions accurately? As your circumstances change?whether gradually or suddenly?it is important to make sure your estate plan evolves with those changes.

Even with a clear vision for giving, it can be challenging to develop an estate plan, navigate tax and probate laws, and maintain your plan without the help of knowledgeable professionals, so seek them out during this process. But by asking yourself these questions and considering your responses, you will be taking a step in the right direction towards building a sound estate plan. God has blessed each of us with so much, and we are called to be faithful stewards of the gifts we have been given. A thoughtful estate plan represents the last great act of the steward.

Steven Wykoff '99 is a Certified Financial Planner® and partner at Mersereau, Lazenby & Rockas, LLC, based in Suwanee, GA. Steve, his wife Elizabeth, and their four sons reside in Bozeman, MT. Currently, two of his sons are students at Covenant College.