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At a high level, legacy planning is a comprehensive term that is usually used in context of planning for future generations – in essence, your legacy. It’s about deciding what to do with your estate (e.g. your assets) and what impact that ends up having on those who receive it. Legacy planning is often used as an umbrella term to encompass not only your estate plan, but also charitable giving.
Despite how you categorize them, legacy and estate planning can be complex and overwhelming – both financially and emotionally. And they require careful planning and strategic foresight to successfully provide for your current and future financial needs.
Watch our video of Personal Capital CEO Jay Shah explain why legacy planning is an important component of your overall financial plan.
The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.
