What is Legacy Planning?

Legacy Planning is about preserving and protecting your Legacy with a Capital L. What’s your “Legacy?” Put simply, your Legacy is your impact on the world.

Traditional estate planning (and most estate planning lawyers) focuses on putting legal documents like Wills, Powers of Attorney, and Living Wills in place so that, when something happens to you, the right people have the legal authority to handle your affairs and your assets go to the people you choose.

Those legal documents are essential (and we can help you with those), but they are only part of the picture. Your Legacy is so much bigger than that!

That’s why we developed Legacy Planning—a holistic approach to protecting your Financial Wealth and Personal Wealth.

What’s the Difference Between Financial Wealth and Personal Wealth?

Financial Wealth consists of the things you would consider “assets.” These are things like your house, real property, cars, bank accounts, stocks and bonds, brokerage accounts, life insurance and annuities, retirement accounts, and business interests.

Personal Wealth consists of your memories and traditions, wisdom, life story, and family. Think about a loved one you’ve lost. What are your most treasured memories of that person? Do you wish you better documented your time together? Are there questions you wish you had asked them when you had the chance? On the other side, is there anything you’d want your family to know if you couldn’t be there to say it yourself?

Every person has a story to tell. Every person is worth far more than they could ever have in their bank account. That is your Personal Wealth.

How do I Preserve & Protect my Financial Wealth?

There are four areas that need to be coordinated to preserve and protect your Financial Wealth:

  1. Legal Planning
  2. Insurance Planning
  3. Financial Planning
  4. Tax Planning

These Four Financial Wealth Pillars are equally important to your family’s financial peace, whether you have $2,000 or $2 Million. Legacy Planning brings you and all the professionals you work with to form a financial safety net for your family.

How do I Preserve and Protect my Personal Wealth? 

Preserving and protecting Personal Wealth starts first with determining what matters most to you in life and how you want to pass it on to future generations. Personal Wealth preservation tools include:

  1. Legal Planning, to make things simpler for your family.
  2. Legacy Videos to capture the essence of who you are and your life story.
  3. Memory Boxes, to organize precious keepsake items over the years.
  4. Photo Preservation, to ensure your family photos aren’t lost when a USB drive is misplaced, or a hard drive is erased.

When you’re ready to begin your Legacy Planning journey — contact Costanzo & Russom Law Group to see the difference it can make for you, your family, and your peace of mind.

We’re curious–What’s your Legacy?