Estate Planning: Your Legacy, Your Story

Why Estate Planning Matters

Your financial plan helps you build and manage wealth during your lifetime. Your estate plan ensures that wealth—and your intentions—are carried out smoothly and securely. 

Without an estate plan, families might face challenges like:

• Unnecessary taxes and fees
• Delays and legal complications
• Disputes over inheritance

Estate planning isn’t just for the ultra-wealthy. It’s for anyone seeking peace of mind knowing their assets and wishes are protected.

What Do You Want Your Legacy to Be?

Everyone has a story. Your legacy is how that story continues after you’re gone. Your financial plan builds wealth, but your estate plan defines how that wealth—and your values—live on. 

What kind of impact do you want to leave?
• Do you want to provide for loved ones in a way that reflects your priorities?
• Support causes you care about through charitable giving?
• Preserve family harmony by reducing uncertainty and conflict?

Your legacy is more than money. It is about values, relationships, and the mark you leave on future generations. Estate planning empowers you to shape that impact. 

Estate Planning Is Not ‘Set It and Forget It’

One of the biggest mistakes we see? People make a will when their children are young and never update it. Life changes—marriage, divorce, new children, business ownership, or even changes in state law—can make an old plan ineffective or even harmful.

Estate planning is a continuous process that is part of your financial plan. Reviewing your plan every 2–3 years helps to ensure:
• Your beneficiaries are up to date
• Your documents reflect current laws
• Your plan aligns with your evolving goals

An outdated estate plan can be just as risky as having no plan at all.

Beyond Wills and Trusts

Estate planning goes beyond choosing who inherits your assets. It also prepares you for unexpected events, including times when you may not be able to make decisions yourself. 

Essential documents like Healthcare Directives and Financial Powers of Attorney provide clarity during medical or financial emergencies. These safeguards help prevent confusion and delays when decisions are most critical. 

They’re not just for older adults—young adults, as early as age 18, should consider having these documents in place to protect themselves and their families. 

Complex Situations Require Careful Planning

Estate planning is especially important in specific situations:
• Blended families where inheritance decisions can be sensitive
• Special needs dependents requiring long-term care and financial security
• Business owners who need succession strategies
• Divorce or remarriage 

These nuances demand careful alignment with your financial strategy—something we’ll cover in future articles.

Coming Soon in greater detail in upcoming articles: 

• Charitable planning
• Asset protection & long-term care considerations
• How technology is transforming the traditional estate planning process