What is a Legacy?

A legacy is an enduring impact you leave on others once you’ve left the earth. Leaving a legacy is about the people you impact, not just about the possessions you leave. Leaving a legacy is about the influence you leave, not just about the inheritance. You may not be a king when you die but you can definitely leave behind a legacy worthy of a king. 

Leaving a legacy is like tossing a rock into a pond. There is an initial splash followed by ripple effects that continue once the rock has disappeared. You might have a small rock to throw or a big boulder but each one of us will leave something behind us. It’s up to us to decide how far those ripples will travel.

Why is a Legacy Important?

A legacy gives you an opportunity to live for a purpose that’s bigger than yourself. You can decide to use everything you have – your wealth, resources, talent, and relationships – to bless those around you. Money is a gift. When handled well, it can transform your family, your community, and even the entire world. “A good man leaves an inheritance to his children’s children” (Proverbs 13:22).

How to Leave a Lasting Legacy

1. Pass Along Your Values – In addition to passing along an investment portfolio or a house to your children, think about the values you’re instilling in your family:

    

• • • Quality time: The best gift you can give your family is your presence and the lasting memories you’ll create together.

       

    • Family traditions and stories: Those who outlive you need to know their part in your family history. Practice traditions, share family pictures, make a recording of your own story that can be listened to by future generations.

       

    • Work ethic: Set an example of hard work for your family and friends to imitate. Sit down and have a conversation about what it looks like to live a life well spent.

       

    • Money management: Teach your children and grandchildren how to properly manage their money – a lasting gift for lifelong success.

       

2. Practice Generosity – Multiply your legacy’s impact with a plan for boundless generosity. It will inspire you like nothing else and is a proven antidote for selfishness.

    

3. Have a plan to create and/or transition wealth – Money is a good thing but, if it’s handled poorly, it can ruin people. Estate planning is the process of coming up with a legal plan for transitioning wealth. This will take time and effort but it’s worth it. Think through how you can safeguard your legacy in these four areas:
   

• • • For yourself
    • For your spouse
    • For your children
    • For your friends, extended family, and community

Successful estate planning also involves making sure the responsibility to manage the money, business, or property is transferred along with the actual assets.

Create your Legacy Plan

Individuals and business owners spend a lifetime raising a family, building a business, and making meaningful contributions within their community. 

Explore strategies, with us, that can allow you to fund, protect, and follow through with your benevolent wishes for those family members, individuals, and organizations that have meant so much to you or your business.