Planning a Legacy

Giving back is about linking passion with action, and it does not have to be complex—but it does have to be well thought out to be effective.

As many well-to-do but generous Americans can attest, your philanthropy can do more than just

help the cause or causes important to you. So why not bless your family as well as your charities

as part of your legacy?

To make philanthropy a part of your legacy, you do not have to be a Carnegie to have your name

put on this or that building. For most of us, our family is our most important and lasting legacy.

Consequently, philanthropy can be what binds a family together and passes down real enduring

values to the younger generations, all while doing tangible good today.

This is not automatic. It requires more than estate planning, or even charitable gift planning, but

what is called legacy planning. To give you a quick run-down and even a guide, you might

consider the ten steps that formed the basis of a recent Private Wealth magazine article titled

“10-Step Legacy Planning.”

The ten by title alone are:

1. Identify What Inspires

2. Create A Giving Mission Statement

3. Review Giving History

4. Engage The Next Generation

5. Research Non-Profit Organizations

6. Form A [Family] Focused Team

7. Decide Where To Give

8. Build The Strategy

9. Present Customized Recommendations

10. Implement The Strategy

Be sure to read the original article for the details on these ten steps. In the meantime, there is no

time like the present to get started on the first step. So, what “inspires” you?

Reference: Private Wealth (January 7, 2014) “10-Step Legacy Planning”

Jimmy Long