Legacy Planning

What is Legacy Planning?

Legacy Planning is the process that families go through when there is a realization by the family that financial security has improved enough where significant amounts of their wealth will try to pass to succeeding generations. These families are starting to question the validity of leaving all their wealth to children and are exploring other options. As a result families start to focus on facts, values, and beliefs regarding their wealth-how they acquired it, what they have done to build and preserve it, how much they will need for the future, how they will anticipate using it, and finally, how they will ultimately distribute it. Many times a family will develop their own personalized financial mission statement that reflects the family's philosophy and values.

When dealing with Legacy planning families begin to think of three directions their wealth will distribute: 

	Their Friends and Family
	Philanthropy
	The Governmental System

Effective Legacy planning will utilize Estate Planning Techniques along with tools like Charitable Planning or Trust Planning to meet their family distribution goals.

For more information contact: LegacyPlanning@sfgweb.com