5 Ways to Leave Your Mark Using Your Estate Plan

 Posted on September 15, 2022 in Estate Planning

Being forgotten is a common fear associated with death. Everyone wants to be remembered fondly long after they have passed away. Aside from the immediate financial benefits, a desire to be remembered can be a driving factor for those who have flocked to Los Angeles seeking stardom. Luckily, you do not need to make it as an actor or musician to leave a lasting legacy. You can use your estate plan to continue benefiting not only your descendants for generations to come, but the community as a whole. Charitable giving is a noble way to continue serving your community long after you have gone. Business owners may have additional opportunities. If you are interested in leaving your mark on your loved ones and Los Angeles alike, you should speak to an attorney about how you too can build a legacy using your estate plan.

Your Estate Plan Can Help You Leave a Lasting Legacy

No matter who you are in life, you can do real good in the world after death. Some ways that you can leave a lasting legacy in your estate plan include:

• Gift-giving occasions - You may not be around for some important events in your loved ones’ lives, like perhaps a grandchild’s wedding. Using either a will or a trust, there may be ways to earmark funds so that your presence will be felt at these important events.
• Charitable giving - You have multiple options for posthumous charitable giving. You may of course leave a lump sum to a specific charity. Or, you could create a charitable trust that supports a particular cause you are passionate about. You can then authorize your trustee to make reasonable distributions as needed.
• Memorial scholarships - A great way to help deserving individuals in your community is to establish a memorial scholarship that can help disadvantaged students obtain higher education.
• Business planning - When you have done the sheer amount of hard work it takes to build a business from the ground up, you want it to still be there when your great-great-grandchild is old enough to take it over. Planning for your company’s continued success can help keep your family financially secure for generations to come.
• Donating big items - Charitable organizations and community efforts are always in need of big-ticket items, like cars and furniture. Your belongings can be enjoyed by and used to serve members of your community in need as long as the items endure.

As you can see, it is possible to create an enduring name for yourself with a bit of careful estate planning.

Contact an L.A. County Estate Planning Attorney

Law Office of David Schechet is skilled in helping estate planners plan to leave an enduring legacy. Our capable Los Angeles estate planning lawyers will strive to help you create an estate plan that can benefit others for a very long time. Call 800-282-4731 for a free consultation.

Source:

https://www.fidelity.com/life-events/estate-planning/beneficiary-strategies/charity