Legacy Plan Importance

September 29, 2021

An aspect that must be considered when helping a client plan for retirement and beyond, is what kind of financial legacy they would like to leave to future generations. Legacy planning is unique to each family and the importance placed on it can vary greatly from client to client. Understanding our clients’ thoughts and feelings is crucial to creating a successful financial plan whether leaving something behind for family, friends, or charity is of high importance or not. By knowing our clients’ wishes in advance, we can better assess how assets should be allocated to have little left over, leave behind a nice nest egg while still living comfortably, or planning to have a large or specified inheritance for beneficiaries. Not to mention, if having money left over at the end of life is an important goal, there are strategic ways to maximize the amount left over and avoid paying estate tax on money being passed down. Correctly planning to leave a legacy can be complex and wishes may change over time. To review your legacy plan or begin the process of establishing one for you and your family, contact us today!

Carol Dixon, CFP® & Kevin DeRosa, CRPC®

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