Legacy PlanningLegacy Planning
Legacy financial planning allows us to control our material assets and how they are allocated when we pass away. We've thought about the valuable possessions and keepsakes that we want our heirs to inherit. Of equal or greater importance are those things non-material assets that we have accumulated over the years. Legacy planning is our golden chance to define those values that matter the most to us. We have the opportunity to pass on the information, memories, aspirations, and experiences that have enriched our lives. Your personal legacy should be the cornerstone of your financial plan. You'll find below a collection of articles that have been designed to assist you in many different aspects of legacy planning. There is no greater gift that you can leave to your loved ones than creating your own personal legacy.
The Walt Disney Legacy: A Lesson in Legacy Planning
There are few better stories to emphasize the importance of legacy planning than the story of Walt Disney shortly before his death in 1966. Mike Vance, former dean of Disney University, tells this story of Walt Disney’s legacy as portrayed by Walt's final hours in 1966 in his book, Think Out of the Box:
“At Disney studios in Burbank, California, Mike could gaze out of his office window across Buena Vista Street to St. Joseph’s Hospital, where Walt Disney died. Mike was talking on the telephone when he saw the flag being lowered over the hospital around 8:20 a.m. His death was preceded by an amazing incident that reportedly took place the night before in Walt’s hospital room.
Leaving A Legacy To Your Children
Once we are gone from this earth can we only hope the virtues we taught our children will go on to the next generations? True, when our children are adults they are responsible for making their own decisions, but do we not still want to sway commendable behavior whenever we can? Does anyone ever grow to old to appreciate praise from their parents or someone they respect?
We all try our best to pass on principles that we know will serve our children well. Most times those lessons are passed on by simply showing our approval. But after we are gone how can we reinforce the good qualities we want them to have?