Legacy planning as part of a gift!

What is legacy planning?
Legacy planning is a financial strategy that prepares people to bequeath their assets to a loved one or next of kin after death. These affairs are usually planned and organized by a financial adviser.
Pros of legacy planning
Effective legacy planning honors the personal and practical matters that concern the entire family besides ensuring their financial security. It also helps to minimize the negative impact in terms of post-demise wealth distribution that tend to occur so often, so that family members can grieve in peace.
Proper legacy planning can be the key to a successful retirement plan and helps to ensure that your wishes and loved ones are taken care of. Comprehensive legacy planning helps to ensure that your assets will be under your control during life and may provide a variety of benefits to you and your family.
Legacy planning as a gift?
First, the financial advisor guides you toward reaching a level of financial security that will both provide you with a comfortable life and allow you to leave wealth as a part of your legacy. Many people forget that they cannot leave a financial legacy if they weren't financially secure enough to amass that legacy in the first place.
After addressing the issue of financial security, the financial advisor gives advice on how to ensure that your affairs are managed and continue to prosper after they've been passed on. The advisor usually recommends setting up a meeting with your next of kin to discuss how to manage your estate, so there are no surprises.
The meeting allows you to communicate any preferences or wishes you have in how it should be managed or what should become of it. It's always useful to have these wishes in writing, such as in a will. The financial advisor can also assist you in donating any portion of your wealth to charity.
Hence, if you want to use legacy planning as a gift, you can communicate to your financial adviser to make the necessary arrangements. What would be a better gift than leaving down your legacy to your love ones or future generation. Consider legacy planning today!