Legacy. Estate planning lawyers define “legacy” as “a gift by will, especially of personal property and often of money.” BLACK’S LAW DICTIONARY 462 (9th ed. 2009). However, “legacy” has a much broader meaning to most of us. Our legacy is what we leave behind after we are gone. Our legacy is how we are remembered. Estate planning attorneys help you plan and carry out your personal legacy.
Maybe you are a small business owner who has watched your venture grow and prosper over the years. When you first started, you were both excited about building something of your own, but also nervous about the risk. Now that your business has done well, you are thinking about what will happen to it when you want to stop working and enjoy your hard earned retirement. You want to leave your business or professional practice in good hands.
You might be a parent who wants to protect and provide for young children. You want to make sure that your children are taken care of if you can no longer do so. This means selecting a guardian based on many factors (age, geography, values), and a trustee who can manage their money. It also means deciding where you want them to live, how you want them educated (public school? private school? parochial school?), and when you want them to receive their inheritances.
Maybe your professional ventures have been financially rewarding beyond your personal needs. Your family is comfortable and you would like to leave a charitable legacy to an organization which supports goals you want to advance. In addition to handing on your business or estate to your next generation, you want to leave a charitable legacy and want to know the most advantageous way to do so (private foundation? charitable lead trust? charitable remainder trust? donor advised fund?).
Suzanna Wasito Tiftickjian is a estate planning and probate lawyer who will work with you to design an estate plan that addresses your unique legacy goals. She can also guide you through the legal process with sensitivity and understanding after a loved one dies.
To discuss your legacy plan, call our Denver estate planning and probate attorneys at (303) 991-4676 or send us a note.