Good Financial Reads: Leaving a Financial Legacy

The process of financial legacy planning can be daunting and hard to grasp. Breaking it down into smaller categories makes the task seem more manageable, but you need to remember that every category is interconnected with each other.

For example, if creating a charitable estate plan or an inheritance for loved ones is important to you then this should affect how much money your save (or spend) on things like housing and transportation as well as which investments are made.

Leaving a financial plan for your loved ones


When you have a plan, your executor will be able to take care of everything for you. They’ll know what accounts need paying and if there are any expenses that needed taking care of before the estate can pay them off. There won’t be much waiting around on an outcome because all the hard work has already been taken out so they don’t have to worry about anything else.
The difference is huge when it comes down to how quickly things get done after someone passes away with no or little planning in advance versus somebody who had plans set up ahead of time!

Build your portfolio

The pre-retirement years are often the best time to start constructing an appropriate investment portfolio because by this stage of life, most people have gotten debt under control and begun accumulating a portfolio of assets. Planning is imperative for meeting legacy goals like saving up enough money and having your investments work together with other aspects you may need such as insurance or education funds.

Does your retirement plan support your Legacy?

The sooner you start planning for your financial legacy, the more confident and secure you will feel about the future. Planning includes accumulating assets and minimizing taxes so that when retirement is here we are prepared to live a fulfilling life without worrying about how our loved ones or charitable causes might be left in need of support now from us who’ve retired early due to poor health.

Transferring assets to heirs

A charitable lead trust is a great way for high-net worth individuals with strong inheritance goals and strong charitable intentions to transfer assets without having to pay the hefty taxes that come with it. A CLT, in addition to helping you make large donations each year as per your wishes, can also help you control what happens when the remaining funds are distributed at its end date.


This is a great way to access valuable, educational information about finance without paying anything. Our financial planners would love to share their knowledge and help everyone regardless of age or assets by following along with the blogs they write!

Leave a Comment