Leave a Legacy That Matters

What matters most to you is your legacy. Protecting your family and community, even after you are gone, is a legacy worth cherishing. Let’s work together to thoughtfully plan for your family’s and community’s future. Below, we have included some frequently asked questions about legacy planning.

What is legacy planning, and how does it differ from estate planning?

Legacy planning and estate planning are similar; however, we prefer the term legacy planning because it is more inclusive and encompasses a broader range of financial services. Both concepts involve transferring wealth to your heirs or charitable organizations.

Learn More: The Difference Between Estate Planning and Legacy Planning

Why have a legacy plan?

Estate matters can become complicated without a trust or legacy plan. An iron-clad legacy plan for your estate ensures that your wishes are fulfilled after you are gone. It enables your heirs or the charity of your choice to receive what you intended to give them. Additionally, having a well-thought-out plan allows you to rest easy, knowing that your legacy is protected.

Learn More: Debunking the 5 Most Common Misconceptions About Life Insurance

Does a legacy plan make sense for me?

When starting to create a legacy plan, it’s important to consider whether it aligns with your financial situation. Consulting a financial advisor can help you assess if a legacy plan is suitable for you. If it is, they can guide you through the initial steps. When starting a planning for a legacy plan is if it makes sense for your financial situation. Talking with a financial advisor can help you determine if this is the right fit for your plan and if so, can help you take the first steps.

Learn More: Can Anyone Create Generational Wealth?

Where do I start with my legacy plan?

Begin by gathering information on all your assets and where you keep them. Start by creating a list and collecting all relevant documents. Then consider the following questions:

• Who would you like to leave your property and assets to? Is it one specific person or multiple individuals?
• Are you inclined to support charitable causes? Is there a specific charity you would prefer to give to?
• Do you have any preferences regarding your medical care that should be documented?

Once you have reflected on these questions and gathered the necessary documents, it is advisable to seek professional assistance. Start by consulting a financial advisor, and if needed, consider contacting an attorney. A financial advisor can work with you to help you build your legacy plan.

Learn More: Retirement Blueprint: Finding Your 210 Life

Conclusion:

A legacy extends beyond your own lifetime. It serves as a gift to those closest to you or to future generations. A well-thought-out legacy can also positively impact communities through charitable contributions. By having a clear plan and taking proactive steps, you can ensure that your legacy continues. 210 Financial is here to assist you in planning your legacy. Contact us today at (309) 263-1333 and schedule your complementary Retirement Blueprint Financial Review today!

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