How do I leave more than just money to my children or grandchildren? This is a question that comes up more often than you think. Each generation views the world in their own unique way; and my clients are realizing that they can do more than just leave them money. I recently had a couple express their desire to show their family what was important to them by planning their estate with a component that gives back. These, and many clients like them, want to show their future generations that there is more to life than they realize. The bigger question they asked themselves was “How can I leave a true legacy for my family?” What is your legacy? What would you like it to be? Have you even asked yourself these questions?
I recently attended the global conference for Make-A-Wish (A charity started in Arizona). The conference was hosted by Disney in celebration of the 100,000th wish that Disney granted to a child through Make-A-Wish. I have been incredibly fortunate to be involved with an organization whose entire mission and purpose is to give Strength, Hope & Joy to children with life threatening illnesses. My family is witnessing the development of my legacy throughout my life.
There are thousands of charities in our communities and across the country that serve very important purposes. Think about the causes or organizations that you have a tender spot in your heart; charities that have touched you or your family in different ways. Many times, charities are included in estate plans simply for tax reasons. However, involving those special charities in your life and in your estate plan can help create and cement your legacy in the minds of those that mean the most to you. Creating an estate plan is much more than just deciding who gets what. This is one of the many reasons that helping individuals and families is not just our practice, it is our passion, it is our privilege.
Contributed by Morris Hall PLLC Carefree, Sedona, Flagstaff, Scottsdale and Phoenix Estate Planning Attorney and Partner, West Hunsaker.
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This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.