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Custom Legacy Planning Solutions

Our children are our future. Your children will continue to do great work in your family name. Passing on a legacy will give them the support to continue their lives with pride and confidence. Without a legacy, however, they may face insecurity and financial hardship that could have been avoidable.

A legacy is more than a financial inheritance. Leaving your legacy is also about passing on your values and vision. If you’ve spent your working life building a successful business, your legacy is key to its continued success after you’ve gone. As an extension of your identity, you want to be sure your business continues with the same ethos that enabled you to build it in the first place.

Legacy Planning Solutions

There is no one-size-fits-all solution for legacy planning, so taking a custom approach allows you to maximize the potential of your legacy while avoiding additional expense. Your situation is unique, and so are your legacy requirements. Therefore, it’s prudent to employ a wealth management firm that recognizes your individuality.

Off-the-shelf solutions are available but tend not to work in clients’ best interests. Typically, they are ill-suited to achieving personal goals, particularly for high-net-worth individuals.

Custom legacy planning solutions work by taking a holistic approach to wealth management. Your wealth manager will take the time to understand your goals and objectives throughout and after your life. This will enable them to create a legacy plan that aligns perfectly with your needs.

As well as the typical legacy planning aspects such as wills, power of attorney, and trusts, a robust custom legacy plan should also include:

  • Your priorities, goals, and aspirations.
  • Your current circumstances.
  • A holistic approach to your life and needs.
  • Health care directives.
  • Charitable planning.
  • Business continuation and contingency.
  • Wealth transfer to beneficiaries in line with your objectives.
  • Effective tax strategies to minimize tax payments while staying on the right side of the law.
  • A strategy to avoid unnecessary fines and fees.
  • Working with beneficiaries to help them understand their responsibilities and how to handle them.
  • Regular monitoring and adjustment to stay aligned with your goals.

Legacy planning solutions aren’t just about who to pass the wealth onto when you die. A custom legacy plan will have an inbuilt support structure that works with the beneficiaries to help them understand their newfound circumstances and to empower them to deal with it productively. This kind of support allows your legacy to continue as you envisioned it.

Making Legacy Planning Solutions Work For You

When you choose a wealth manager to help you plan your legacy, you’re entering into a partnership based on trust and respect. Don’t forget that you’re going to be describing and discussing your life plans in great detail. Your wealth manager will learn a great deal about you and your circumstances.

Because of this, you must choose the right wealth manager for you. Like any successful relationship or friendship, it will work best when there is a rapport between the two of you. It’s helpful to work with a wealth manager with whom you feel comfortable and with whom you can be open. A professional but friendly relationship is ideal as you will get the most from the relationship if you can be comfortable talking about sensitive subjects.

If you hire the first wealth manager you find on your high street, the chances are good that they won’t be a good fit for you. It’s worth reading some blogs and shopping around to find a firm that has the right expertise and is aligned with your way of thinking. Take the time to seek out your ideal wealth manager who will help you find the best custom legacy planning solutions to suit your life plans.

Leaving A Stress-Free Legacy

It’s devastating when a child loses a parent. Naturally, coming to terms with their loss will take time, but imagine if your child’s distress was compounded by a messy situation regarding your estate and finances. We’re certain this isn’t the kind of legacy you wish to bestow upon your children, especially at a time of great sadness. By getting your legacy planning solutions underway, you can be confident that you have made the necessary arrangements to ensure the smooth transfer of assets.

It’s never too early to start planning your legacy. Most people dislike thinking about their mortality. In our experience, it’s best to do so to plan your legacy. In this way, you can be prepared for the worst, while hoping for the best, living with the peace of mind that comes from taking care of your legacy and your loved ones.

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