084: Legacy Planning: Mistakes to Avoid to Secure Your Wealth

There are things that are within our control and some that are not. Time doesn’t stop, and everybody gets older, but one thing that is within our control is to take action before it’s too late to secure your legacy and avoid headaches like probate. For anyone who has been able to put money away and generate enough wealth to leave assets behind, we all need to determine who will take care of us and those assets toward the end of our lives–whether that’s our kids or someone we hire.  With that in mind, today’s episode is about what it means to leave a legacy behind for the people you care about. We discuss how to best prepare your family to inherit what you leave behind, the small mistakes that can have huge consequences when we’re gone, and the critical components of a legacy plan that we ensure every client has.   In this podcast interview, you’ll learn: Why legacy is about memories and money–not just one or the other. How to keep your assets out of probate court. Why it’s so important to review your benefits annually. What to do if you have gaps in your legacy planning.  To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Episode 84 of the The Retirement Trainer podcast, hosted by EGSI Financial, titled "084: Legacy Planning: Mistakes to Avoid to Secure Your Wealth" was published on August 28, 2023 and runs 22 minutes.

August 28, 2023 ·22m · The Retirement Trainer

Summary

There are things that are within our control and some that are not. Time doesn’t stop, and everybody gets older, but one thing that is within our control is to take action before it’s too late to secure your legacy and avoid headaches like probate. For anyone who has been able to put money away and generate enough wealth to leave assets behind, we all need to determine who will take care of us and those assets toward the end of our lives–whether that’s our kids or someone we hire.  With that in mind, today’s episode is about what it means to leave a legacy behind for the people you care about. We discuss how to best prepare your family to inherit what you leave behind, the small mistakes that can have huge consequences when we’re gone, and the critical components of a legacy plan that we ensure every client has.   In this podcast interview, you’ll learn: Why legacy is about memories and money–not just one or the other. How to keep your assets out of probate court. Why it’s so important to review your benefits annually. What to do if you have gaps in your legacy planning.  To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com

Episode Description