Creating a Financial Legacy PlanningThat Lasts
Inevitably, the truth looms over our lives – the day when we may not be here to relish the fruits of our labor. While presently you diligently care for your family, what happens when you're no longer around? Enter legacy planning.
Creating a lasting financial legacy is a dream many harbor, one that is not only secure and extensive but also accessible to family once you've passed away. This guide outlines the steps to ensure your legacy is not just a dream but a well-executed plan for the future.
Outlining Objectives:
Before delving into legacy planning, establish clear objectives. Consider whether you aim to create a trust, provide regular income streams, or offer a lump sum amount. Your objectives guide the structure of your legacy, be it for business succession, estate planning, or the financial security of your descendants.
Documenting Assets:
The advancement of insurtech and fintech has transformed legacy and financial planning. Utilize digital platforms like IronClad Family's portal to document all your assets securely in one place. Authorized access ensures that your wills and documents remain organized and easily retrievable. Essential documents to include are:
- Property, mortgages, liens, or debts
- Vehicles
- Loans (given or taken)
- Business paperwork
- Retirement accounts (IRA, 401(k), 403(b), ESOP, and pension plans)
- Bank account details
- Investment portfolio
- List of valuable property and assets
This list is not exhaustive; encompasses any item you wish your family to inherit.
Creating a Legacy:
Now equipped with a comprehensive asset portfolio, enlist the assistance of an insurance agent to refine your legacy. If utilizing IronClad Family's vaults, a simple click connects you to our services. The process involves:
- Portfolio Evaluation: A thorough assessment of your portfolio and submitted documents.
- Debt Elimination: Identifying and mitigating liabilities promptly.
- Family Consultation: Engaging with your spouse, children, and beneficiaries to streamline the process, providing guidance for the future.
An iron-clad legacy plan ensures your family's peace of mind when you're no longer present, allowing you to spend your days without fretting over the unknown. For those seeking a reliable insurance provider, reach out to us – your concerns are our priority.
