Legacy Planning – Give it YOUR way!

Legacy planning is a big part of the financial planning process. We help families develop strategies for taking care of the next generation in many different ways. We often ask clients, “What’s the purpose of your money?” Some family legacies are about money some are about memories and some are fortunate enough to be both.

A financial legacy can be about more than gifting and giving money. It can be about teaching your grandchildren how to have a healthy relationship with money. Teach them financial lessons that will lead to financial independence, self-sufficiency, confidence and competence. Teach them about building wealth not about creating more debt. Now that’s what I call a great legacy.

Before we talk about ways to leave a financial legacy, I must first add a word of caution. Funding longevity is a real issue for many seniors. We are living longer than ever before and the cost of living longer can’t be ignored! If you are thinking about legacy plans think flexibility. Make sure your legacy plans only kick-in once your own needs are met. Make certain that you will run out of life before you run out of money. If your needs are met then by all means think about creating a meaningful legacy for those you leave behind. This financial commitment can be small or something much more substantial based on your financial means.

 Making a Financial Contribution      

If you are fortunate to be in a financial situation where you can afford to contribute to the financial needs of your grandchildren here are a few things you can consider and links to some great resources:

 Education Funding


Mortgage Assistance

Down-payment Assistance


As always, please contact us for clarification and for more information. Consult with your estate planning attorney for specific recommendations based on your unique situation. If you do not have an estate planning attorney we would be happy to provide you with a referral.



This information was obtained from sources believed to be reliable; however, it cannot be guaranteed. These links are provided as a convenience and for informational purposes only. We do not guarantee the sequence, accuracy or completeness of the data or other information appearing on the linked pages. The  company assumes no liability for any inaccuracies, errors or omissions in or from any data or other information provided on the pages, or for any actions taken in reliance on any such data or information.



About Mary Jo Lyons

Mary Jo Lyons, CFP® is a registered assitant with extensive expertise in designing financial strategies to help clients achieve their financial goals. Have a financial question? ASK MARY JO!


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