Passing along financial assets to your loved ones is at the core of the estate planning process, but there are some other things that you can take into consideration that can be quite meaningful. If you engage in the process of legacy planning, you can take a comprehensive approach and do everything possible to leave a lasting influence. Before we get into matters of the heart and mind, we should touch upon the potential impact of the federal estate tax. Your financial legacy can be … [Read more...]
Shape Your Legacy With Charitable Giving
Estate planning can extend into the realm of legacy planning. When you establish a legacy plan, you proactively shape the way that you will be remembered after you pass away. Your legacy plan can include many different components. Without question, the first order of business will be to provide financial resources for the benefit of the people that you love. Family history is important as well, and you can share your memories in writing when you are crafting your legacy plan. You can also … [Read more...]
Leaving a Legacy: Your Legacy Letter
Leaving a Legacy Dictionary.com describes legacy as: Legacy: A gift of property, especially personal property, as money, by will; Anything handed down from the past, as from an ancestor or predecessor What do you want to pass on? Certainly the obvious comes to mind: the wealth you have amassed, your home and whatever land you own. You think to pass on those items with sentimental value such as Grandpa’s watch, that antique desk, Grandma’s pearls to name a few. These items can be … [Read more...]
Free Report: What Is North Dakota Legacy Planning
A basic estate plan will cover the essentials, but you may want to take a more comprehensive approach. Legacy planning is a broad-based, holistic form of estate planning. Topics covered in this whitepaper include: Financial Considerations Connection to Family History Charitable Acts Ethical Will Click here to read the whole article or download the PDF. … [Read more...]
How Can I Preserve My Legacy?
When you are devising your estate plan, you may wonder how you can preserve your legacy. There is a more comprehensive form of estate planning called legacy planning, and there are certain steps that you can take to make sure that you leave a lasting impression. We will look at some of the things that you may want to do to preserve your legacy in this blog post. Provide Educational Opportunities Clearly, you can leave direct inheritances to your loved ones. However, sometimes money can do … [Read more...]
What Is the Difference Between Estate Planning and Legacy Planning?
Legacy planning is a more complete and comprehensive form of estate planning. In this post we will look at some of the differences between basic estate planning and legacy planning. However, for a start, we will point out some of the main concerns that both forms of planning would address. Asset Transfers When you are preparing for the inevitable, you are going to facilitate postmortem asset transfers, even if you want to keep it extremely simple. There are various different ways that … [Read more...]
What is Minnesota Legacy Planning?
What is Minnesota Legacy Planning? from Raymond German When you plan your estate, you facilitate asset transfers to your loved ones. Learn more about Minnesota Legacy Planning in this presentation. … [Read more...]
What Is Legacy Planning?
What Is Legacy Planning? Legacy planning is a more comprehensive form of estate planning. When you are considering your legacy, the financial aspect is certainly going to come to mind. You must provide for your loved ones, and when you are doing so, you must be concerned about potential estate tax exposure. The preservation of wealth is a subject that we will cover at a different time. In this post, we will look at some of the more subtle elements of a well-constructed legacy … [Read more...]
