Preserve and Protect Your Legacy: Personal Wealth

Legacy Planning is a holistic approach to preserving and protecting your Financial Wealth and your Personal Wealth.

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 Personal Wealth?

Preserving and protecting Personal Wealth starts 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
  2. Legacy Videos
  3. Memory Boxes
  4. Photo Preservation

Legal Planning

A proper, up-to-date estate plan ensures that, if something happens to you, your affairs are handled by people you trust and your assets go to the people you choose.

It makes things easier for and protects your family.

An estate plan makes things easier for your family by giving them the legal authority they’ll need to handle your affairs without needing to spend time and money on otherwise unnecessary court proceedings. An estate plan memorializes your wishes, provides a clear roadmap for your family, and minimizes the burdens placed on your family.

We give our estate planning clients a workbook that we created called the Vital Information Guide. The Vital Information Guide contains all of the personal and financial information anyone could need to know if they were called upon to handle their parents’ affairs. Our clients’ families find this resource invaluable because it saves them time and minimizes stress.

An estate plan protects your family from unscrupulous people. It ensures your minor children are cared for by people you choose and their money is protected until they reach a suitable age to handle things on their own. An estate plan can protect your children’s inheritance from creditors and in-laws.

Legacy Videos

One of the best ways to preserve your Personal Wealth is to record it! Your family will be able to see you smile and hear your voice long after you are gone, and you’ll be able to preserve parts of your life story and wisdom that might otherwise be lost.

Think about what you’d like to share with generations to come and video record your answers. I would bet these become the most treasured thing you leave behind.

Five thought-provoking and meaningful topics are:

  1. Family
  2. Faith
  3. Home
  4. Giving
  5. Traditions

Memory Boxes

Every person should have a box where they organize and keep meaningful items.

Our young children bring home dozens of precious pieces from school each month. When they were born, we made each of them a Memory Box where we save the special items–especially the ones with their handprints! The box is organized by grade, Pre-K through 12th grade. We love filling it for them and knowing that someday we will give them these things to help them remember their childhood.

As adults, we may not make handprint art or write adorable “books” anymore. But, when we’re living life well, we make new memories all the time. Life is meant to be savored and remembered.

Reject today’s “throw away culture.” Take the time to save the ticket stubs, photos, and birthday cards– whatever it is that means something to you and brings you joy.

Photo Preservation

So much of our lives is documented in photographs. Some of these photos live exclusively on our phones. How do we ensure these memories aren’t lost if a USB drive is misplaced, a hard-drive is erased, or a flood washes the photos away?

All photographs should be stored 3 ways:

  1. Digital Version
  2. Digital Backup
  3. Printed Version (either regular prints or photo books)

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.

What’s your Legacy?