Legacy Planning Services
Build the plan that carries your values forward
The wealth you have built over a lifetime reflects more than financial assets. It reflects your values, your priorities, and the people and causes you care most about. Without a coordinated plan in place, decisions about that wealth can default to government rules or uninformed parties. This leaves the burden of uncertainty on your loved ones at their most difficult moments. Legacy planning is how you take control of what happens next.
What Does a Legacy Plan Include?
A legacy plan should answer three critical questions:
- Where do my assets go?
- Who is in charge?
- What are the rules?
Our comprehensive legacy planning includes:
- Multigenerational wealth building and preservation
- Wealth transfer plan
- Business continuity and exit planning for business owners
- Tax-efficient gifting and charitable giving
- Financial education and family governance
- Values preservation
Minimizing Taxes and Maximizing What You Leave Behind
How your estate is structured has significant tax implications for your heirs. As part of your holistic financial plan, your advisor will work in coordination with your broader tax strategy to help minimize estate and inheritance tax exposure and maximize what reaches your beneficiaries. For clients with philanthropic goals, we also help incorporate charitable giving strategies, including donor-advised funds and charitable bequests, that can benefit both the causes you care about and the people you leave behind.
The Family Estate Organizer™
Keeping your estate documents organized and accessible is just as important as having them. As part of our legacy planning process, Prosperity Capital Advisors provides clients with an exclusive Family Estate Organizer™ binder: a single, protected resource that brings together the financial, legal, and personal information your family will need when it matters most. It includes:
- Wills and trusts
- Powers of attorney
- Healthcare directives
- Beneficiary-designation forms
- Tax returns and financial account information
- Usernames and passwords
In addition to key documents and account details, your organizer can include personal mementos, favorite sayings, photographs, and memories you want to preserve for the people you love.
Common Questions About Planning Your Legacy
When reviewing your estate, consider the following questions. If you are unsure about any of them, our advisors can help you find the answers.
- Do I have a will, and has it been reviewed in the past three to five years?
- Are my beneficiary designations consistent with my current wishes across all accounts?
- Have I named a power of attorney for both financial and healthcare decisions?
- Would a trust be appropriate given my assets, family situation, and tax position?
- Does my family know where my important documents are and how to access them?
- Has my estate plan accounted for recent changes in my family or financial situation?
How Prosperity Capital Advisors Can Help
From beneficiary-designation forms to essential legal documents, your advisor will coordinate with the appropriate legal professionals to help develop and maintain the pieces of your legacy plan, keeping everything aligned with your broader financial strategy. Once your plan is in place, we review it regularly and make updates as your life evolves, whether that means welcoming a new grandchild, navigating a family transition, or responding to changes in tax law.
