One of the discussions we have with clients involves what they want their legacy to be. Legacy planning is very important and is different for everyone. The goal is to live your life, leave what you want to who you want (family, charity etc.) and give as little as possible to who you don’t want to (uncle Sam… unless you have an uncle Sam then maybe the IRS). We have clients that started this process with the help of other advisers and unfortunately have a tunnel vision approach. It seems that most legacy plans focus on the time after passing as the ‘legacy moment’. At Cornerstone we think that is falling way short of maximum potential for this type of planning!

Create leverage:

The first thing we set out to accomplish is to create multiples of wealth to pass on to your recipients by leveraging assets. This will allow you to pass on wealth in larger amounts with less or no taxes.

Protect assets:

We also secure assets with different tools to help protect from creditors, lawsuits or nursing home expenses.

Live NOW:

And most importantly create a legacy that is more important than money. If we can create leverage then you will have more assets to enjoy while you are here. The MOST import part of a legacy is experience and memories with family and friends. A photo album full of pictures with the family should be appreciated more than a fat check at the end of your existence. If it’s not then we may want to reconsider uncle Sam.

For information on legacy planning that leaves more than money contact us for a free consultation. 920-243-4188.