For many investors, making sure their loved ones are protected after they pass is a top priority. Creating a plan that dictates how their assets and wealth are bequeathed reduces stress for their family and verifies their last wishes are followed. Developing a legacy planning strategy is an effective way of organizing these affairs.
The passing of a loved one is a stressful time for families and can be made more challenging if siblings and other relatives fight over assets. Finalizing a financial legacy plan efficiently designates your property and stocks to specific individuals. Without one, your family and friends will likely fight over your items in probate, racking up significant legal fees and damaging relationships. An estate and legacy plan allows you to determine who should receive something—and who shouldn’t.