How to Know Your Wealth is Secure
Does your family know what you want to do with your assets when you die or if you become disabled? Your estate will legally transfer your property. But beyond the legal documents, does your family understand what you want for each of your assets in 2021? These questions deserve answers…
Why?
Why is the most important question you can ask. You never know what you don’t know…until a life event hits.
A life event is a crossroad like getting married or divorced, graduation, retirement, or facing unexpected medical problems. It can also be a financial event like selling a business or a planning event like preparing your estate.
A handful of years ago, I encountered a significant life event. My mother lost a battle with various afflictions, mainly depression.
In the midst of working through grief and loss, I kept thinking how great it would be to uncover a letter or a note or anything that captured what was important to her.
In most life events, there are two potential responses: a knee-jerk reaction, which often leads to regret, or a more purposeful response. Thankfully, I chose the latter.
What will you leave with your loved ones in addition to your wealth? Do they understand your values? Are they aware of the life experiences that formed who you are as a person? Do they know how you feel about them?
Not sharing what’s important to you can lead to discord and distance for those you leave behind. Did you know 70% of estate plans turn out to be incomplete and then unravel towards wealth failure?
It doesn’t have to be that way. Wealth is about relationships more than resources. Legacy communication helps to secure both.
Intentional affirmation
You invest time and energy nurturing your financial assets. You probably have a team of investment advisors to help you. Additionally, you likely have legal advisors who created a set of documents focused on protecting property at your death.
If that is where your planning ends, your strategy likely is incomplete.
Do you have written documents that communicate …
your core values?
the experiences that formed you?
affirmations of love and concern for your family?
You may wonder, “How does this relate to my estate plan?”
Life is more meaningful than accumulating and protecting wealth. Preserving what’s important to you and your family builds on your foundation and leads to Wealth Success.
What does preservation look like? Write down what is meaningful to you, making sure to include affirmations of love and regard for those you care about.
What you write should reflect your thoughts and intentions connected to your core values, to your faith journey, and to your special memories.
We call that a Legacy Letter.
A Legacy Letter allows you to sleep soundly because your loved ones will have a lasting resource to share what’s meaningful and important to you - now and for generations.
Intentional communication is one of the most powerful ways to affirm someone you care about and to preserve family values at the same time.
Your Legacy Letter will also be a permanent resource - something your family will refer to throughout their own lives. The physical nature of a letter serves as a point of reference for anyone who wants to know what’s important to you and why.
Legacy communication is also an ideal capstone to any estate or financial plan. It also how to know your wealth is secure.
I decided to launch Prosperis Partners at my mother’s funeral. This blog post is my own Legacy Letter of sorts. It shares my intention to help others - the purpose of Prosperis Partners.
Your legacy awaits
Your estate transfers your property. Your legacy transmits your life.
We would love to help you start on your Legacy Letter and to assist in determining how it fits into the bigger picture of your Wealth Success plan.
Let’s get started.
Contact me today so we can learn how to work on your Legacy Letter.