At a high level, legacy planning is a comprehensive term that is usually used in context of planning for future generations \u2013 in essence, your legacy. It\u2019s 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.\r\n\r\nDespite 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.\r\n\r\nWatch our video of Personal Capital CEO Jay Shah explain why legacy planning is an important component of your overall financial plan.