legacy planning
Future asset arrangement
Legacy planning is preparing for the transfer of assets, responsibilities, and wishes after death or incapacity.
It encompasses wills, trusts, estate planning, and end-of-life directives, but extends beyond finances to include family values, business succession, and charitable giving: Their legacy planning ensures the foundation continues after they're gone.
The term emphasizes what someone leaves behind rather than just the mechanics of wealth transfer.
- probateWill validation proceedings
- trustsBelieves in reliability
- trust fundAssets held for another
- inheritanceProperty received from ancestors
- generational wealthAssets passed through families
passing the torch · future generations · family business · family heirlooms · estate · philanthropy · charitable giving · documentation · guardianship · wills · power of attorney · executor · stewardship · peace of mind · living wills · memorialization · wealth management · cultural heritage
legacy planningliving in the moment
Awareness of present experience
short-term thinking · carpe diem · instant gratification · hedonism · immediate gratification