If you were to look up the word “Legacy” in the dictionary it literally means: 

  •  an amount of money or property left to someone in a will  
  • a thing handed down by a predecessor.   

The honest truth is that by definition, it doesn’t seem like something of exponential value, however, when you look at synonyms relating to a legacy or legacies, that is when you see the true value of the word. 

Words such as:  

  • birthright;  
  • gift;  
  • fruit and  
  • footprint  

are a more adept way of highlighting the importance of our actions on earth. This is our journey and the only way we can honestly ensure that our lives have full meaning is to plan and write our final chapter well in full. 

Meticulously planning your Last Will & Testament and setting up your Estate Planning in advance is how you secure the future of your loved ones and verify your legacy. When it comes to Estate Planning, setting up full instructions on how you want your estate divided is the final step in protecting your loved ones. A detailed Will & Testament is how you make sure that your legacy is not destroyed by unforeseen expenses. 

When we die, not only should we have a life policy in place, but additional instructions on how any money needs to be used to finalise our Estate has to be carefully considered. The cost of dying has increased to the point where families can be financially ruined if all aspects of estate planning are not considered. Executors; debtors and unfavourable family members suddenly become the biggest threat. 

Over and above the aspect of dying in order to leave a legacy, we also need to consider the fact that we should also include a Living Will in the event that we should become permanently disabled or suffer the effects of a disease such as Alzheimers. This is often times not included in our Estate Planning scenario, however, needs to be taken into account. 

Working with a professional financial advisor is the only scenario where you can be 100% sure that you have in fact put a superior financial plan in place that covers all aspects of ensuring that your legacy lasts for generations to come.  

Remember……. 

“Every accomplishment starts with a decision to try” – IIMG  

 

 Author: Angelina Angileri @IIMG Marketing