The Sage Largesse Endeavor

Legacy planning goes beyond just finances. It's about ensuring your wishes are known and your loved ones are cared for after you're gone. Here's a checklist to get you started:

1. Contemplate and Document Your Wishes

• Values and Vision: Consider what kind of legacy you want to leave. What are your hopes for your family's future?
• Ethical Will: Write a letter expressing your values, life lessons, and wishes for future generations.

2. Plan for Asset Distribution

• Inventory: List all your assets – bank accounts, investments, property, valuables.
• Will or Trust: Create a will or living trust to outline how you want your assets distributed.
• Beneficiary Designation: Designate beneficiaries for retirement accounts, life insurance policies, etc.

3. Protect Yourself and Your Wishes

• Power of Attorney: Appoint someone you trust to handle your finances and healthcare decisions if you become incapacitated (durable power of attorney for finances, healthcare power of attorney for medical care).
• Living Will: Express your wishes for end-of-life medical care.

4. Organize for the Future

• Record Keeping: Gather and organize important documents like wills, insurance policies, account statements, and tax returns. Keep them in a safe and accessible location.
• Digital Assets: Decide what happens to your online accounts and digital assets after you're gone.
• Communication: Talk to your loved ones about your plans, including the location of essential documents and your wishes for your care.

5. Review and Update

• Regular Review: Review and update your plans periodically, especially after major life events (marriage, birth, death in the family).

Additional Considerations:

• Long-Term Care Planning: Explore options for long-term care, like insurance, to avoid placing financial strain on loved ones.
• Charitable Giving: Consider incorporating charitable donations into your plan.
• Funeral Arrangements: Think about your preferences for funeral arrangements and pre-plan if desired.

Remember: This is a general checklist. Consulting with an estate planning attorney can help ensure your plan meets your specific needs.