Why Legacy Planning?

As a Counselor At Law, people often ask me why I think legacy planning is such a valuable approach and enhancement of traditional estate planning. So, I’ll share the two key reasons I encourage my clients to consider legacy planning:

• Enhance Your Exisiting Estate Plan.
Your estate plan documents, especially a health care directive, are only as good as the communication you have with the people that you appoint to act on your behalf
or to carry out your instructions when you’re gone. However these legal documents do not provide the guidance as to the issues or concerns you would like your appointed
agents to consider in your specific/individual circumstances.
Legacy planning serves to provide guidance as to how you hope individuals will use the powers. Legacy planning documents are not legally binding, yet, like “living wills”
they express an intent or desire and provide a personal background to assist the people you appoint to act on your behalf.

• Assist With Difficult Conversations.
Legacy planning tools such as writing an ethical will empower you to express your thoughts on challenging topics when communication with and among family members is difficult.
These thoughts can be shared during your life, at a family celebration to express general hopes and desires or, more specifically, at a family meeting where specific assets
such as a family business or family vacation home are going to be discussed.

Remember, your personal wealth is priceless…pass it on!