Sometimes it can be easy to see the trees, but miss the forest. This is true when it comes to planning for your estate.
You can get mired in the tax laws, the tricks and the tools, and even some petty family squabbling in Overland Park or elsewhere. Then again, there are those estate planners who find direction in an old axiom: “Don’t just leave an estate. Leave a legacy.”
An estate can be just so much stuff, figuratively or literally. However, a legacy can be so much more. Whether a beloved memory or even a contribution to those around you.
Usually, we seek to leave behind an estate for the good of our family, and we work to protect this gift from problems that may lie in wait.
When you are considering this notion of your “legacy,” take time to think through what you are trying to achieve ... or leave.
God gives each of us the power (and responsibility) to choose how we invest our own time in this life with the cards we have been uniquely dealt, to include our relationships and resources.
A recent article in Forbes titled “4 Smart Ways To Leave A Legacy” can help get you started. The author illustrates four (4) "smart ways" that have less to do with leaving more "stuff" to people and more to do with leaving more of yourself to others. Accordingly, you could:
- Provide a Family History,
- Give to Charity,
- Write a Legacy Letter, and
- Prepare an Ethical Will.
In the end, it is your call when it comes to the legacy you will leave. And you will leave one, by design or default.
So what will be your legacy?
Reference: Forbes (August 1, 2013) “4 Smart Ways To Leave A Legacy”