Legacy wealth planning is about creating something to leave behind for your beloved family as well as your favorite causes or charities. Have you strongly considered what you want to pass down to your children (and the next generation in general) upon your death?
While tangible assets, such as cash and real estate, may be important to you, don’t stop there. Intangible things are every bit as important, as you want them to live on forever.
Common examples of intangible assets include your faith, personal beliefs, and family history. If you don’t take the time to pass these things on, they may be lost forever. And that would be a tragedy from your perspective.
This is where legacy wealth planning comes into play.
Take Advantage of Legacy Wealth Planning
This important planning measure is all about one thing: creating a plan for leaving intangible assets behind to your loved ones and other important people and organizations in your life.
The one thing you’ll quickly learn is that no one takes the exact same approach to legacy wealth planning. And here’s why: everyone is unique in their own special way. So, it’s natural that no two people will have the same legacy to leave behind.
Take for example someone with a strong interest in charity and other important causes. Through legacy wealth planning, you can take steps to show your caring nature, such as by leaving direct gifts to the charities of your choice.
Taking this one step further, you could create a Charitable Remainder or Charitable Lead Trust.
Your overall estate plan should encompass this type of planning if you want to pass on portions of your hard-earned estate to family as well as charities of your choosing. Once you have this in place, you’ll realize that both your tangible and intangible assets will be in good hands upon your death.
Without this type of planning, you’re taking a risk that everything will work out on its own. This is too important to risk. You need a plan that guarantees your success.
If you’re interested in legacy wealth planning, contact us to schedule a consultation. From there, we can discuss your goals, review what you have in place, and create a plan for the future.
