LEAVING A LEGACY
Legacies come in countless forms. Family traditions, photos and keepsakes are priceless. But they can’t pay for a grandchild’s college education or help get a niece’s business off the ground.
- Decide to which family members, friends and charities you’d like to leave money.
- Select a target dollar amount.
- Make a detailed list of your assets.
- Meet with your advisor to create a legacy plan.
KNOWING YOUR OPTIONS
Your advisor can help you understand the financial products designed for legacies. Annuities.
have a death benefit option that guarantees payments will be made to your beneficiaries if you die and that the total annuity payout will be at least as much as you contributed in payments.1Life Insurance. Life insurance
plays an important role in most legacy plans. Some policies transfer assets to beneficiaries free of federal income tax and outside of the probate process.2
Work with your advisor to protect your legacy from all angles. Be prepared for possible health care and long-term care expenses, which can have a major impact on your legacy.
TALK TO AN EXPERT
1 Guarantees and benefits are subject to the claims-paying ability of the issuing life insurance company.
2 Death benefit proceeds may avoid probate.