Money is like dynamite. It's an awesome, powerful tool. But, too much, at the wrong time, and/or in the wrong hands can be a real problem. Conversely, not enough won't get the job done. For each beneficiary, there is a range of appropriate quantities of dynamite. For example, a young couple with over a million dollars in life insurance might not like the idea of their two young kids inheriting all of the life insurance money outright with no strings attached, plus accumulated savings, in the event of a tragedy. Conversely, an older couple with a million dollars in savings might be thrilled to pass along those assets to their two grown children without any hesitation.
Your net worth is far, far more than the dollars and cents. Sure, we need to plan for the transfer of financial wealth, but if we don't consider the rest of the picture, we can inadvertently create a plan that actually causes problems with both the financial and non-financial components. In your plan, we should strongly consider how your faith, education, experiences, values, worth ethic, and relationships might inform your strategy.
Disclaimer:
Information contained in this website has been prepared by Legacy Legal, LLC for informational purposes only and is not legal advice.
While we welcome inquiries from prospective clients, please do not send us any information that you consider to be confidential until you have made specific arrangements with us to become a client. Neither your sending us information electronically nor our receipt of information from prospective clients creates an attorney-client relationship.
Our attorneys only practice law in Kansas and our posting this website and including information about our firm and its lawyers is not intended to be, and should not be construed as, any form of advertising or solicitation to perform legal services in any jurisdiction where we are not authorized to practice law.