What is Legacy?
What is a Legacy?
When it comes to estate planning, it is easy to get caught up in the required paperwork, who will make what decisions, and how your personal effects will be handled upon your death. All of these things are important, but sometimes the focus is so heavy on these items of necessity that little thought is given to what is actually being left behind. Most people give far less thought to how they will actually be remembered once their gone. From family to business to community, the legacy one will leave generally comprises a great deal, and is perhaps worth even more than an estate plan.
For the average person, leaving a family legacy may seem simple enough: a spouse, children, grandchildren, a home, and the memories therein. But beneath the surface, within that home and its people, a family legacy contains so much more. From special family heirlooms and cherished traditions, to unique life lessons and systems of values and beliefs, the ways to build and leave a family legacy are many. Family legacies can be woven together in countless ways. They can include creating and sharing secret family recipes, teaching children or grandchildren how build and fix things, passing along the legacies of previous generations, exemplifying a particular faith, embracing holiday traditions, and contributions to family accomplishments. The impact you can have on your family is truly boundless.
People also have the opportunity to leave a professional legacy. Whether starting or growing a business, demonstrating and sharing a particular expertise, or inspiring others in or beyond your industry, how you influence and affect your business, your colleagues, and your customers can occur in a variety of ways. Perhaps it’s realizing a life-long dream, establishing a landmark partnership, launching a global mission, or using your professional platform to advocate a cause, how you guide, change, and influence people during your career will be remembered long after you’re gone.
We probably think the least about the lasting effect we may have on our broader community, but this is also a significant part of our legacy. If you were ever a Little League coach or a scout leader, a PTA member or a church volunteer, you’ve already left a mark. If you served a non-profit, publicly supported the local arts, regularly contributed to food drives, clothing drives, or blood drives, you made a difference larger than you think. If you were a public servant in any capacity, helped develop the local economy, or went above and beyond to help those less fortunate, you made an impact.
For all of these kinds of things, and so much more, you will be remembered for something great. Of course, not everybody’s legacy is proud, but that is the result of choice. In the midst of your estate planning, as you make critical decisions, remember you have this choice too. Consider what you want your legacy to be now, as tomorrow is never guaranteed.