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What Is Legacy Planning?

October 20, 2015Legacy Planning

What Is Legacy Planning?When you plan your estate, you make sure that your remaining assets are transferred to your loved ones after you pass away. An effective estate plan would also account for the possibility of incapacity late in your life.

Everyone should have a basic estate plan in place at minimum, but some people want to take things a step further. They engage in legacy planning, and this can be quite fruitful on a number of different levels.

There are various different things to take into consideration when you are crafting your legacy. Let’s look at some of the steps that you could take when you are engaged in your legacy planning efforts.

Family Heirlooms

Your legacy is comprised of more than money. You probably have heirlooms in your possession that have been passed down from generation to generation. These items could have monetary value, but they certainly have a great deal of sentimental and historical value.

You could carefully evaluate these priceless treasures and make sure that you leave each item to the best possible caretaker.

Charitable Giving

You could be remembered for your generosity if you take the right steps. Your legacy plan could include acts of charitable giving.

Some people make direct contributions to charitable causes, and this is one option. You could alternately establish a charitable family foundation, and you don’t have to be a billionaire to do so. Most of the private foundations in the country are funded with less than $1 million.

Educational Opportunities

Leaving money to people is great, but the gift of opportunity is even better. If you have family members who have not yet reached their full potential, you could make educational opportunities available as part of your legacy plan.

When you give the gift of learning, your younger family members can reach for the stars.

Ethical Will

You have undoubtedly heard of the estate planning document called a last will. There is another type of will that has been used for centuries called an ethical will.

With this type of will, you leave behind moral and spiritual values, so this document can act as a guidepost for the loved ones that you will be leaving behind.

Legacy Planning Report

We have provided a a few things to think about in this blog post. If you would like to obtain more detailed information about legacy planning, download our special report.

The report is being offered on a complimentary basis, and you can access your copy through this page: Free Report on Legacy Planning.

To Schedule a Free Consultation

If you are interested in the possibility of working with our firm after learning these facts, please select our “Workshops” tab to RSVP for a free estate planning workshop. At that workshop you will be offered a free one-hour consultation with an attorney:  www.collinslawgroup.com/seminars/

 

 

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Caprice Collins

Caprice Collins

Attorney Caprice L. Collins is a top rated Harvard Law School graduate. She has 34 years of legal experience with a successful law practice devoted exclusively to Estate/Business Planning and Trust Administration. Attorney Collins is a well-respected keynote speaker on Wills, Living Trusts, Estate Planning, Business Planning and Trust Administration. She has appeared on California’s Real Estate Radio Station KTLK AM 1150 as a legal expert on Estate Planning and Living Trusts among many other notable media appearances.
Caprice Collins

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Testimonials

Ms. Collins and her team has earned my trusts and respect. They showed professionalism, attention to details and made me feel like I am family. It is truly reassuring to know that my family and I won’t he on our own after the documents are executed.

Saida H.–
My overall experience with Collins Law Firm has been great. The process of estate planning was thoroughly explained with personal care and concern. The entire staff is very personable and eliminate any intimidation. I feel very relieved to have completed this process and I am very comfortable in knowing that Collins Law Group is available to us for any needed help.

Mattie S.–
We received excellent and clearly explained directions with respect to the creation of our living trust and the required follow up actions. Caprice is easy to work with and she inspires full confidence in her abilities. We continue to work with her as we review changes in our lives and the adjustments required to insure that our trust does what we want it to do.

John C.–
Attorney Collins was referred to us by a friend who had a living trust prepared for his family. We attended one of her very informative seminars on living trusts. Shortly there after we had out trust done.  She is very thorough, precise and follows up to ensure we’re satisfied with our estate plan. The staff was wonderful as well.

Tony B.–
We’ve had Living Trusts done by two different attorneys over the last 12 years. After retaining the Collins Law Group, it became clear that the others weren’t up to the same standard. Attorney Collins and her staff have an eye for detail that was absent from the other firms we used. It was the difference between dining at a gourmet restaurant, and a fast food drive-thru. The Collins Law Group is terrific at putting you at ease, and makes the process relatable and easy-to-understand. After watching other family members go through the ugly, hot mess of Probate, we definitely feel safe and in control of our estate and the legacy we’ll leave behind for our children.

Mr. & Mrs. Owens–

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