Proper legacy planning and asset preservation is a cornerstone of any successful retirement plan and helps ensure that your wishes will be respected and your loved ones taken care of. Legacy Planning is a multifaceted process that can be used for a variety of purposes: from helping to preserve your assets for future use to transferring your wealth to those you love.

From the conservation of your assets to the transfer of them, comprehensive legacy planning helps ensure that the management of your assets will be dictated by your wishes throughout your life and may provide a variety of benefits to you and your family. When they are executed and implemented properly, legacy plans may help reduce family disputes and court involvement, provide effective disability or long-term-care planning, appropriately utilize exemptions to minimize or eliminate estate taxes, and provide certain asset protection benefits to beneficiaries.

Many strategies and tools exist that can be utilized to help safeguard your wealth and make sure it is effectively transferred. A variety of legal documents, such as wills, revocable living trusts, Powers of Attorney, and advanced medical documents are beneficial to the legacy planning process. Life insurance, both term and cash value, is another valuable tool to consider because it can be designed to serve several different functions. Life insurance policies can help address the financial harm caused by unexpected sudden deaths of parents of minor children, minimize the wealth destruction of families who may need advanced estate taxation avoidance or possibly even work as alternative savings or wealth generation tools.

Additionally, many types of long-term care insurance exists to help protect your assets from the devastating costs of long- term care expenses and ensures that you live where you desire in the last stages of your life. These policies provide a diverse range of coverage depending on the style you choose: from more traditional policies to unique hybrid approaches that can generate enhanced long-term care benefits within certain types of life insurance or annuity contracts. Long-term-care strategies help you plan on how to protect your assets from Nursing Home spend down.

Legacy planning requires a coordinated and comprehensive approach that our firm is uniquely positioned to provide.


This material is not intended to replace the advice of a qualified attorney, tax advisor, financial advisor or insurance agent. Before making any financial commitment regarding the issues discussed here, consult with the appropriate professional advisor.