A Starting Point for Planning Your Legacy
Accumulating wealth is a well-deserved reward for many years of hard work. Being able to share it in a way that builds new wealth and also leads to a sense of meaning and purpose for the generations that follow, however, is a real legacy.
Before you can create a plan for your legacy, it helps to know exactly what your intentions are.
Here are some starting questions to consider as you look at what you would like your wealth to accomplish.
- What do you want your wealth to achieve for your future generations?
- Have you asked your children and grandchildren to share their hopes and dreams for the future with you? Have you shared what your hopes are for them?
- Is your desire to pass a significant, financial inheritance to your children? Is your desire to donate significantly to a charity?
- If you are a business owner, what is your hope regarding your children joining and then succeeding you in the business?
When you know your own mind and can articulate your values, expectations, hopes, and dreams for your legacy, it’s time to start planning and talking to your children and grandchildren. Share your intentions and the roles they will play in preserving, sharing and passing your wealth along to future generations.