Planning Insights
What is your Personal Legacy?
Wealth is not limited to financial assets. Have you considered what wisdom, stories, wishes and values you want to transfer to the next generation?
While the practical and financial elements of wealth transfer are undeniably important, these instruments do not reflect the richness of personal history, vison, and values that we may want to preserve from one generation to the next. Over the years, we’ve deepened our conviction that capturing these important elements for future generations is both personally satisfying and logistically productive. At North Berkeley, we invite clients to work with us to create a personal legacy. What unfolds is a process of discovery and expression of meaningful stories, intentions and insights that you want to share with people you care about and record for future generations.
As you reflect on your life’s journey, what are the intangibles that make your life rich? What are the things you want the people you love to know? Everyone’s path is unique. With a personal legacy, you can:
- Provide information otherwise not known
- Share and preserve important stories and family history
- Give voice to the things that give meaning and purpose to your life
- Articulate your charitable priorities
- Tell the stories behind the assets that will be inherited
- Affirm your love for those you are addressing
- Personalize the legal documents
- Preserve your “voice” over time
The impact and influence of sharing accumulated family history can be very powerful. Your words will link the past with the present and the future. In addition, the priorities you uncover for yourself may also lead to some action on practical planning tasks you previously delayed or were uncertain how to pursue: establishing or modifying wills and trusts, implementing tax-saving strategies, and planning for the unexpected.
