The Ingredients of a Successful Financial Legacy
Our most recent newsletter included Melanie's cherished family recipe for the Norwegian dish Lefse. As the holiday season approaches and we prepare to gather with family and friends, many of us look forward to sharing favorite recipes like Melanie’s, passed down through generations.
Here’s a thought: Have you ever considered passing down financial security to your loved ones?
Crafting a plan for future generations
Just as a beloved family recipe frequently evokes memories of the great-grandparents, grandparents, and parents who cooked special dishes for us, a well-crafted financial plan can leave a lasting, fulfilling legacy for future generations. Often, clients will share their hopes and dreams for their family members, present and future, opening the door to multi-generational planning conversations.
Many " ingredients " go into multi-generational planning; every family’s plan differs based on their priorities. But in general, a solid, multi-generational planning strategy can help you:
- Preserve and grow your wealth across generations
- Transfer your wealth while minimizing tax implications
- Educate younger family members about financial responsibility
- Help ensure a family business stays in the family
- Achieve philanthropic or charitable goals aligned with your values
Leaving a priceless legacy
Our legacies are powerful. They connect us to future generations and remind them of the love, hopes, and dreams we have for them. We feel an enduring connection when we pull out that treasured, faded recipe card every holiday. And we can also feel it in the priceless gift of financial stability and security for our children, grandchildren, and great-grandchildren.
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Securities and investment advisory services offered through Hornor, Townsend & Kent, LLC. Registered Investment Adviser. Member FINRA/SIPC. 600 Dresher Road, Horsham PA 19044. 800-873-7637, www.htk.com. HTK is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. Bridger Financial Group, CSC Financial Strategies, Rossetti Financial, Inc. and listed entities are independent of HTK. HTK does not provide tax or legal advice. Always consult a qualified tax advisor regarding your personal tax situation and a qualified legal professional for your personal estate planning situation.