You can’t take it with you, but you can make a good plan for leaving your wealth to the right people.
Estate planning is evolving rapidly in the digital age. Learn how to solidify your legacy.
When it comes to passing down an inheritance, most families think of money and tangible assets. But there’s another legacy that’s even more important to the preservation of families –the noneconomic one.
Typically, it’s not until after the financial paperwork, such as wills, trusts and family business agreements, is in place that families begin thinking about how they want their heritage, or identity, to be communicated to subsequent generations. But planning for this type of legacy can and should begin even earlier, giving multiple generations the opportunity to work together on the family story.
“More and more, families are recognizing the importance of family heritage,” says Susan Dsurney, family wealth adviser and CPA at GenSpring Family Offices.