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What is Legacy Planning?

There is value in the financial assets we have, but there is greater value in our family histories, morals, beliefs, and heirlooms. These treasured assets are important to consider when developing your legacy or estate plan.

Legacy planning, traditionally called estate planning, is the development of a plan for managing your assets and property after your death. Although legacy planning is more or less synonymous with estate planning it has been adapted as a more holistic approach to deciding how to bequeath your property and assets to your loved ones after death. The creation of a definitive plan for how your assets will be distributed and managed while you are alive ensures that you pass on your legacy after death. This goes beyond financial assets such as property, business interests, investments, and retirement accounts, it also includes decisions that pass down the family’s core values, community involvement, and responsible behaviors. Family heirlooms, stories, and life lessons should also be included in your legacy plan.

Depending on the number of assets you wish to pass down to your family, legacy planning can be very simple or extremely complex. Whether you are dealing with a large estate broken up among a large family or have a few assets to pass on to one family member, it is beneficial to meet with an advisor at Mohr Financial Group to ensure that nothing is looked over and that there are not any problems that arise after your death.

If you would like to learn more about legacy planning or would like to meet with one of our professionals, contact us today at Mohr Financial Group.

LPL Financial and Mohr Financial Group do not offer legal services. Please consult your legal advisor regarding your specific situation.




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