Have you considered legacy planning as part of your estate plan?

You may have taken the wise step of executing an estate plan stating what is to happen to your financial assets once you pass away. However, what about non-financial assets that are important to you? Legacy planning is an important part of estate planning that many in California may not initially think of.

Execute a personal legacy statement

Perhaps the first step in legacy planning is to execute a personal legacy statement. This can serve as a roadmap to ensuring your values are acknowledged and passed on to future generations. This can even include a joint family mission or family rules, along with what causes are important to you.

Share stories

Many people have “master stories” that shape how they live their life and how their values are carried out. For example, there may be a story about how you met your spouse, about your childhood and other life milestones. Master stories can also be about special traditions you want your family to keep after you pass away. Capturing these stories in writing, audio or video is important is a crucial part of legacy planning.

Research your heritage

Learning more about your family’s biological roots can be a good way to help you establish your identity and learning more about those who lived before you. There are many types of DNA ancestry tests you may want to take. In addition, there are many types of online resources that can help you research your family’s biological roots. You may even be able to locate photographs or key stories about your ancestors.

Learn more about estate planning

Legacy planning can be an important part of a well-rounded estate plan. This post is for educational purposes only and does not contain legal advice. Our firm’s webpage on estate planning may be a good starting point for those who want to learn more about this topic.