Legacy Planning: Leaving a Lasting Impact 

by | Aug 5, 2023 | Legacy Planning, Retirement Planning

Image of grandchildren kissing their grandparents

Legacy planning is not just about passing on your assets—it is about passing on your values, wisdom, and the essence of who you are to future generations. It is a way to ensure that your impact on the world continues long after you are gone.

Start by reflecting on your core values and beliefs. What matters most to you? What do you want your family and community to remember about you? Legacy planning is an opportunity to articulate these values and weave them into your estate plan.

Consider preserving your family’s stories and history. These are often as valuable, if not more so, than financial assets. 


Documenting your family’s history, anecdotes, and life lessons can create a meaningful legacy that resonates with your loved ones.

Legacy planning can also involve philanthropy. Setting up charitable trusts, foundations, or endowments allows you to support causes that align with your values. This not only benefits your chosen causes but also leaves a lasting testament to your generosity.

Legacy planning involves careful consideration of tax implications. It is advisable to work with a qualified estate planner or tax advisor who can help you navigate the complexities of tax law and create a legacy plan that achieves both your financial and philanthropic goals while minimizing the tax impact on your estate, as well as the tax and fee impact from the probate process. By doing so, you can ensure that a more sizable portion of your legacy goes to the causes and individuals you care about most.

Remember, legacy planning is a dynamic process that evolves over time. It is not just a one-time task, but an ongoing commitment to shaping the impact you want to have on the world. By integrating your values, stories, and financial resources, you can create a legacy that truly reflects who you are and what you stand for.