Every financial plan has an elephant in the room — that being the passing of a family member, spouse, loved one, or oneself.
While this realization can be daunting for many individuals, it can be very worthwhile and beneficial for one to think about desired legacy goals for post-mortem planning. This can come in a variety of ways.
Our job at SFMG Wealth Advisors is to look at the whole picture; in addition to focusing on investment management, tax planning, and overall comprehensive wealth management, it is duly important to us that we understand clients’ wishes for when they pass. Many of our clients have spent their entire lives running businesses, serving their customers, providing goods and services, as well as building families, raising children and grandchildren, and creating generational wealth. It is crucial that, for many individuals, the fruits of their labor be passed down and cared for in a proper manner.
Through the Legacy Planner outline, we can help our clients paint a vivid and clear picture for how they wish for certain after-life actions to be executed. This information, while not meant to replace a will or other estate planning documents, serves as an aggregator of one’s legacy planning wishes, and will help us, as well as the client, pull everything into frame for what post-mortem planning looks like.
This includes (but is not limited to) to the inclusion of:
– Estate documents
– Family Medical History
– Investments, Personal Property, and Real Estate Ownership
– Professional Advisor lists
– Funeral & Burial wishes
– Other relevant legacy planning information
By collating this information for clients, we can ensure that all their desires, goals, and legacy plans are laid out and more importantly, to the clients wishes.