If you have family heirlooms in your possession, these treasures are truly priceless. When you are engaged in the legacy planning process, you can determine the ideal caretaker for each individual item. This can be one of the best gifts that you can possibly give. … [Read more...] about Is there anything else?
It all depends on your intentions and the extent of your resources. One option would be to establish a private family foundation. Contrary to popular belief, you don’t have to be a billionaire to start a foundation. In fact, the majority of foundations in the United States are funded with less than $1 million. Another possibility is the utilization of a donor advised fund. With this type of fund, you make recommendations with regard to the different charitable organizations that you would … [Read more...] about Now that I understand what it’s all about, I would like to set aside resources for charitable causes. What is the best way to do this?
If you are like most people, family members have come to you over the years asking for guidance during difficult, confusing times. You cannot be around forever to share your values, and this can be quite disconcerting. People have experienced this feeling for centuries, and a response was established during biblical times in the form of the ethical will. This is a document that is used to leave behind moral and spiritual values that others can draw from after you are gone. This document is … [Read more...] about Can you provide some examples?
The differentiation cannot be strictly defined, but generally speaking, legacy planning is a more complete form of estate planning. When you consciously craft your legacy, you can shape the way that you will be remembered after you are gone in a number of different ways. While it is important to make sure that the assets that comprise an estate are transferred in the optimal manner, some of the components of a legacy plan sit outside of the monetary realm. … [Read more...] about What is the difference between legacy planning and estate planning?