That being justified — When God forgives sins, He treats them as if they never existed. Webster’s 1828 dictionary defines justified -- pardoned and cleared from guilt; absolved or acquitted from guilt and merited punishment, and accepted as righteous on account of the merits of the Savior, or by the application of Christ's atonement to the offender. by his grace, —Grace is God’s unmerited love and favor, the spring and source of all the benefits men receive from him. It includes all that God has done for man. we should be made heirs—When man is baptized into Christ he becomes a joint heir through his relationship with Christ. But when the fulness of the time was come, God sent forth his Son, made of a woman, made under the law, [t]o redeem them that were under the law, that we might receive the adoption of sons. And because ye are sons, God hath sent forth the Spirit of his Son into your hearts, crying, Abba, Father. Wherefore thou art no more a servant, but a son; and if a son, then an heir of God through Christ . according to the hope of eternal life. —The eternal life is the inheritance for the faithful Christian. It is a hope that can be fully trusted. These things have I written unto you that believe on the name of the Son of God; that ye may know that ye have eternal life, and that ye may believe on the name of the Son of God(1 John 5:13) .