August is "What Is Your Legacy?" month.... a time for people to examine both the past and present and commit to making positive changes that will affect future generations. But that is legacy?

 

At the R. H. Morris Insurance and Financial Services group, we believe legacy is not something you leave behind, but what you pass along. Its your footprint on the world, including your valuables and your values, those intanigibles that serve as a true measure of a life well lived. The beneficiareis of your legagcy are not just children and family, but also the charities you support, and all the people whose lives invested time and care into you.

So how will you be remembered?

Planning is the key to buidling your legacy and ensuring that your causes, interested and obligations are fulfilled. As effective plan should not only address your finacial legacy, but also your socail and personal legacy as follows:

  • Financial Legacy: Your finacial legacy includes valuables and wealth that will be transferred to your loved ones. An effective plan will consider your retitement goals and an estate transfer strategy and may ulilize a number of savings tools including life insurance, annuitites, IRA's, employer sponsored retirement programs, as well as wills and trusts to ensure that your financial goals are met and that your loved ones will be provided for after you're gone. 
  • Social Legacy: Your social legacy includes the financial as well as the non financial impact you have on the wolrd around you and an effective plan should identidy how your socail contributions will continue in your absence. For example, continued financial support of your favorite charities or churh, establishment of a scholarship or endownment, on going publication of books that you've written, or maintenance and improvement of inventions that you've created. 
  • Personal Legacy: Your personal legacy will include your principals, ideals, history, traditions, beliefs, wishes, as well as wisdom gained from life lessons and shaped by the memories and friendships collected along the way. An effective plan should identify how these personal attributes will impact the beneficiaries of your legacy and the most effective way to imprt these attributes, so that your loved ones may carry them forward. 

So, what will your legacy be? Rather than spend another minute wondering, get started on your planning today. What better time to begin building your legacy than during "What Is Your Legacy?" month!

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August 23, 2019 @ 12:22 PM

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