We have found that many of our clients have not defined their personal legacy. Estate goals represent more than just a monetary transfer of wealth; it defines how you would like to be remembered and by whom. So the question is, “How would you like to be remembered?” The Family Wealth Planning process can help answer this question by facilitating this deeply personal conversation and testing your ability to achieve your desired legacy.

Life Example: A couple came in for their annual planning review. They expressed that they wanted to leave a sizable estate, but fell short of defining what their legacy meant to them and what values or lessons they would like to pass along to later generations. While prioritizing their goals, they expressed how much they valued spending time with family. Their Financial Advisor explored the possibility of gifting to their children over the next several years without sacrificing their current lifestyle. This began the process of defining their family legacy.

Legacies are defined, we believe, when our clients answer the questions: “who do you love?”, What institutions have positively affected our lives?”, ” Who can carry on my life’s work?”, “Which constituencies need my help?” And so on… Whether the structure is a Charitable Remainder Trust (CRUT) or a Special Needs Trust to take care of a person who will need special treatment and resources throughout their lives or simply desire to be philanthropic.