Creating a Financial Legacy That Lasts

There is an inevitable truth that hangs above all our heads – the fact that one day we might not be around to enjoy the fruits we bore in our life. Right now, you might be taking care of your family, but what about when you’re gone? How will your property be distributed and your legacy continued? The answer is simple; legacy planning.

Creating a financial legacy that lasts Is a dream for many – and a very realizable dream at that. Whether the goal is business succession, estate planning or simply financial planning for your children, grandchildren and spouse, it’s all possible by making sure you have an iron-clad legacy planning.

Creating a financial legacy that lasts isn’t just about one that is secure and extensive anymore; but also one that is accessible by family once the person has passed away. Here is a quick overview on what you can do in order to make your legacy iron-clad and accessible.

Outlining Objectives

Before you create your legacy, insurance agents will tell you that you should have action items in mind. These include the objectives you wish to accomplish with your legacy. The idea is clear; to help family. But the main question is how?

Do you want to create a trust [KH1] for them? Regular income streams? Or just want to give them a lump sum amount? Medicare? Education funds? Life insurance policy? The possibilities are endless!

Documenting Assets

Insurtech and fintech has improved significantly over the past decade, and the leaps toward technological progress and digitization of the insurance sector in 2020 alone have meant that legacy and financial planning have taken a whole new turn.

You should document all your assets online, and with the help of Legacy Armour portal, upload everything you have in one place. The portal is accessible by whoever you authorize, meaning your wills and documents will all be in one, convenient place.

The paperwork will remain secure, thus leaving no room for uncertainty after you’re gone. Some documents you should collect include:

  • Property, mortgages, liens or debts
  • Vehicles
  • Loans (taken or given)
  • Business paperwork
  • Retirement account paperwork, as well as IRA, 401(k), 403(b), ESOP and pension plans
  • [KH2] 
  • All bank account details
  • Detailed investment portfolio
  • List of any and all valuable property and assets

This list isn’t exhaustive. Any other item you want your family to take after you’ve passed away should be included herein.

Creating a Legacy

Now that you have everything in place, it’s time to get in touch with an insurance agent to help you sort out your legacy. If you are using our vaults to securely store your information, you can get in touch with us with a push of a button, and be on your way to creating the perfect legacy.

We’ll start by:

  • Evaluating your portfolio and the documents you send us
  • Reassessing loans, debts and interest payable and attempting to eliminate liabilities as soon as possible
  • Sitting down with your spouse, children and other beneficiaries to streamline the process and explain what to do and how to do it when the day comes

Having an iron-clad legacy plan isn’t just to make sure that your family members will live peacefully after you’re gone, but also that you’ll spend your days without worrying about the future! We’re here to help if you’re looking for a reliable insurance provider. Just give us a call, write to us or visit us with your concerns. Coffee’s on us!


 [KH1]Link to “Revocable living trust” article

 [KH2]Link to cross-selling article