Estate & Legacy Planning
You have spent a lifetime generating wealth – now it’s time to protect it with a thorough and thoughtful estate plan. Our estate and legacy planning services aim to preserve your wealth from one generation to the next. Our financial planners work with you to create clear objectives, define your intentions, and prepare for legal documentation with an estate attorney.
Your financial situation is unique, so we place a significant emphasis on personalization for our estate and legacy planning services. We understand that choosing how your wealth will flow to the next generation is deeply personal, and often emotional. We take the time to understand your unique financial situation and craft a detailed plan that puts your beneficiaries in a position to thrive.
SPEAK WITH A FINANCIAL PLANNER ABOUT YOUR ESTATE AND LEGACY PLAN
We offer both estate planning and legacy planning services, to help you safeguard your wealth, as well as help you crystalize your vision for future use. Estate planning generally refers to the process of determining how your assets will pass to the next generation. Legacy planning examines the meaning behind your estate plan.
Estate Planning
The purpose of a successful estate plan is to clearly define how property will flow from one generation to the next. Our financial planners will help you determine who will benefit from your assets. We will help you create clear and actionable estate plans that will put all your loved ones on the same page by eliminating uncertainties, untangling discrepancies, and aligning your estate plan with your goals.
Affiance Financial will work with you to facilitate your planning needs by narrowing down your intentions, communicating your objectives to your beneficiaries, and preparing for documentation with a legal professional. Our role doesn’t end once your estate plan is created – we remain your loyal stewards during the administration of your estate until all loose ends have been resolved.
Our Estate Planning services can include:
- Maintaining an inventory of your beneficiaries
- Creating tax-efficient strategies to minimize estate shrinkage
- Facilitating family meetings to communicate your plan
- Coordinating with an attorney to complete the obligatory legal work
- Assisting with the administration of your estate upon your death
Legacy Planning
Our legacy planning services go beyond traditional estate planning by giving consideration to the meaning behind your financial decisions. We help you make intentional decisions about the message your estate plan will deliver to your beneficiaries. Important considerations include:
- What will your legacy be?
This can be defined as a certain dollar amount, a percent of your net worth, or an abstract concept such as “as much as possible.” - Who will receive your legacy?
The most common beneficiary choice is a blood relative, but that doesn’t mean it is the only choice. You could leave your legacy to someone who has inspired you or shares your values, or to a community organization with a mission that is meaningful to you. - Will you leave anything other than assets?
Some individuals choose to leave a conceptual legacy in addition to the assets they leave behind. This can include a written or recorded message for loved ones, or a request – or step-by-step instructions – about how to use the inherited assets.
Our financial planners work closely with you to help you define your legacy – what you will leave behind and how you will be remembered. Then we craft a plan of action to help you work towards accomplishing your legacy goals.
Examples of legacy planning strategies include:
- Establishing a charitable foundation to preserve your philanthropic efforts beyond your living years
- Crafting a trust to pay for the education of future generations
- Motivating your beneficiaries to be self-sufficient by crafting a trust that only pays out funds as a beneficiary earns income
Start Planning Today
When it comes to estate and legacy planning, there is no one right answer. The only requirement is to be proactive – as being proactive ensures that your wishes are carried out effectively, and according to your unique desires. Regular reviews and updates are key to keeping your plan relevant as your life evolves.
Our team of experienced financial planners will guide you through all the steps necessary to create a comprehensive estate and legacy plan. By taking these steps today, you can help ensure that your estate and legacy plan accurately reflects your wishes and provides for a smooth transition of your wealth to your heirs. If you are ready to start planning your estate and legacy, contact an Affiance Financial planner today.
Please Note: Affiance Financial and Private Client Services do not serve as an attorney and do not prepare legal documents.
