October 2019

Sometimes, legacy is connected with a financial benchmark—the division of assets, charitable giving, and tactical ways to pass on wealth to heirs and not lose it to taxes. But the truth is, it’s about so much more than wealth, and before you begin thinking in financial terms, it’s important to reflect on your values, your passions, and how you define a successful life – your true legacy. This month we’re looking at some aspects of a legacy that are often overlooked. Gifts can come from surprising places!

Some families make a conscious choice to pass on values as well as wealth. Discerning what you want to do as a family, and why you want to do it, is a central part of the financial planning process. Finding common values can help a family arrive at a shared vision, and even a mission statement. See what role an advisor can play in stewarding your family through the process.

Legacy isn’t born at death, it’s built during life. Each day we are able to live our legacy in the actions we take, the words we speak and our approach to those with which we share the world. Joan Moran’s article “5 Ways to Leave a Great Legacy” provokes reflection on the life you’re living and the legacy it is creating. Read the article.

Family homes are filled with a lifetime of memories, heirlooms, art, collectibles, photos and paperwork. Often forgotten clothes, exercise equipment, holiday decorations and other items manage to pile up in a basement or attic, hidden from sight. The bad news for parents – your kids don’t want this “stuff.” Shira Gill is a professional organizer with five steps to streamlining your stuff – so your family won’t have to. Read more about how to give your family members this often forgotten “gift.”

In her Nobel Prize acceptance speech, author Toni Morrison eloquently spoke to her legacy, “We die. That may be the meaning of life. But we do language. That may be the measure of our lives.” Her August 2019 death took an important voice from the literary community, readers and advocates around the world. The measure of her success was not in the number of books sold or awards won, but how she helped shape the American experience, and give voice to writers that will continue that legacy. The infographic “Who Influenced Who” visualizes the legacy words can leave for future generations.