Three Common Goals Every Legacy Plan Should Have

Even if you have an understanding of what your legacy is (or will be), you might still be wondering – how in the world do I plan for it? What exactly is a legacy plan?

A legacy plan is essentially a legal structure through which you can implement your life plan, and which also provides for the continued management of that legal structure after your death.

A legal structure, you ask? What kind? That depends, really. There are a variety of legal structures available these days, from corporations and limited liability companies to a range of trusts. Choosing the right legal structure will depend on a number of variables, including tax, liability protection, flexibility, required formalities and upkeep, cost, etc. The more important questions is: What will that legal structure do?

While each legacy plan is unique, click here to discover three common goals that every legacy plan should seek to achieve.