Legacy planning transfers wisdom, family heritage, and unity. When an estate plan only focuses on the assets to be inherited it often leaves a family in disarray. Every family has traditions and values that bring them together and guide them through tough times and good times. When working with your estate planning attorney, thinking through those values, documenting them, and making them a part of the estate plan will ensure that your transfer your wisdom along with your assets.
Legacy Planning is also a tremendous time to impact your loved ones, beyond financial wealth, with family heritage and history. No person envisions their estate plan causing divisions among their loved ones. Unfortunately, traditional estate planning, without thinking through the impact of the wealth on family members can cause misunderstandings and conflict. Understanding the source of the inheritance is often more valuable than the inheritance itself.
To effectively plan your estate and pass your values and wealth you have created, it is important to consider legacy planning. At The Duvall Law Firm we begin the estate planning process for each client by taking the time to understand your family, your legacy, and your goals.