Have you ever contemplated the question; what do I want to be remembered for? It’s a question that comes up at least once in the lives of most adults.
As parents, children, spouses, and friends, we get the chance to make an impression on our loved ones every single day.
Perhaps it’s the kindness that you showed to your loved ones over your time here on earth, where the adventurous sense of spirit that charted your travels all over the globe.
But if you haven’t taken the time to think more about the impact you intend to have with your tangible assets, this is where lineage planning comes into play. Lineage planning gives your estate plan a sense of purpose and connects it to your greater mission, visions and goals.
This means that, in addition to your family beneficiaries, you might also be considering some of your philanthropic goals. Your lineage plan might be outdated by changing circumstances such as a new beneficiary, large changes in net worth, changes in government policy or tax law, a family member suddenly experiencing health or estate issues, marriage, divorce or a move to a new state.
As a parent and spouse, I know that it is one of my goals to ensure that my estate plan has a greater sense of purpose that speaks to generations to come. Therefore, it’s my job to determine how to structure my estate and lineage planning to reflect these big and important goals.
What's your lineage?