It’s not easy to think about how the world will move on after your death. In fact, it’s such a challenging concept to think about, most of us don’t. And getting into the weeds of who gets what, can be daunting enough to put off creating a will indefinitely. In fact, only 44% of Americans even have wills.
But what about seeing legacy planning (including creating a will) in a different way? What if we thought of it as a way to tell the story of our lives?
What is “Legacy Planning”?
The term “legacy planning” has begun replacing “estate planning” which may, at first, seem like a sign of the times in the era of selfies. But “legacy planning” doesn’t have to be selfish. It doesn’t have to be self-aggrandizing, dictatorial or boastful. It isn’t about ruling “from beyond the grave” or bragging (or misrepresenting) your contributions to the world. It’s about crafting a narrative for your family—telling a story. Taken in this way, it’s easy to see why “legacy planning” should be tackled early. As grandchildren arrive and businesses and assets like property acquisition become part of the living tapestry of a family, their role in your legacy—and your own story—evolves.
More Than Money
The great advantage of legacy planning is that it allows you to create a roadmap for how your story will continue. The investments in property and stock are your lifetime priorities expressed in where you put your money. And these can be passed along, ensuring awareness and investment in causes you believe in. You can also divide and sub-divide investments as your family grows, creating a wealth tree with as many branches as the grandchildren you have. Considerations of charitable distribution contribute to the story. Your investment portfolio becomes a living document that you leave for your family or loved ones to continue to write.
The Next Chapter
Legacy planning (or estate planning, if you prefer) can be a rewarding experience that can lend meaning to investment. Crafting a larger narrative around your financial assets can also help family members process and participate in building a legacy today and after you are gone.
Join us for our Legacy Workshop where we explain on topics such as Family Branding, Ethical Wills and Trustee Letters. We will discuss different ways to share stories and life lesson using audio and video recordings, photo books (pets included), rituals, instructional language in trust, and community foundations.
Join us for Our Free Live Workshop! Seating is limited.
November 14th, 2018
1:30 pm – 3:30 pm or 6:30 pm – 8:30 pm
2 Riverfront Place
Little Rock AR 72201
R.S.V.P: Call 501-221-7776, Email- Lnance@WilsonMillerLaw.com or Click HERE to save your seats now.