“The best things in life aren’t things.” Such a simple statement, but it holds so much meaning and intent. We know there is value in our financial assets, but more importantly, there is even greater value in our family treasures like family history, morals, beliefs and heirlooms. These treasured assets are the ones that are most often overlooked in traditional estate planning. Legacy planning takes estate planning one step further and aims to incorporate these assets into your plan.
At Nash, Nash, Bean & Ford, LLP we want to ensure that all of your treasured assets are preserved and protected in your estate plan by creating a legacy plan for you instead of a traditional estate plan. Contact our legacy planning attorneys today calling 309-944-2188 or by completing our online contact form so that we can help you create your legacy plan.
What Is Legacy Planning?
You have undoubtedly worked hard all of your life to build an estate that you can pass down to future generations; however, the most important things you pass down may not be tangible, or even intangible, assets. Instead, the most important gift you may make to your children and grandchildren is sharing your beliefs, values, and philosophies with them. Legacy planning, however, can do more than just share those values, beliefs, and philosophies. A well thought out legacy plan can actually encourage beneficiaries to incorporate those beliefs and values into their lives, thereby continuing your legacy.
How Does Legacy Planning Work?
Each legacy plan is as unique as the individual creating the plan; however, there are some common strategies and tools that can be used to encourage future generations to internalize your overall philosophies. For example, if education is something that you value you might create a trust that only allows beneficiaries to use the trust assets to further their education. Likewise, if religion plays an important role in your life you may choose to promote your beliefs by leaving a charitable contribution to, or setting up a trust for, your church. The opportunities to further your legacy through legacy planning are virtually endless.
The legacy planning attorneys at Nash, Nash, Bean & Ford, LLP are dedicated to helping you preserve and pass down your beliefs, values, and philosophies to future generations through your legacy plan. Contact us today by calling 309-944-2188 or by completing our online contact form to find out how we can help ensure that your most important assets are protected.