Everyone leaves a legacy, but not everyone is intentional about the legacy they leave. The memories, values, and wealth you pass on are directly impacted by how you plan for your legacy.

Even though most people know that true wealth is about more than finances, we’ve found that 90% of families fail to leave the legacy they want because they only focus on transferring money. The 10% of families that do leave an impactful legacy have three things in common: communication and trust, a shared vision, and an active desire to prepare the next generation. These values are the basis for our legacy coaching process. 

Legacy Planning vs. Legacy Coaching

Leaving an intentional legacy should include a plan for stewarding your finances, allocating your investments, and making an impact. Traditional estate planning is a vital part of legacy planning. This often involves a conversation with your legal advisors and accountants to develop a plan for allocating finances between children and charity. Many people miss out on the opportunity to identify their values and desires in the legacy planning process, which unfortunately keeps them from crafting a legacy plan that’s more than just a division of assets by equal percentages. Legacy coaching identifies the important areas in your life and how your financial decisions can reflect the impact you desire to leave behind in these areas.  

OneAscent’s Legacy Coaching path is for high-net-worth individuals who want to make the most out of their wealth. With the right plan, these individuals can potentially save millions of dollars in estate taxes and allocate their finances to areas they care about, such as their children and charitable organizations. 

This path is a three-step process that starts with an intentional conversation and continues as you build your legacy. 

Step 1: Goals Conversation 

Our legacy coaching process starts with a goals conversation. We ask questions that you may have never been asked before. We help you identify specific ways to utilize your wealth. After our goals conversation, you will come away with clarity in these five areas. 

• Your personal legacy
• Your family legacy
• Your financial legacy
• Your business legacy
• Your charitable legacy

All of these areas are intertwined, but each may have its own specific objectives. For example, how do you view your wealth transfer? If you are a business owner, are you prepared for business continuity and succession?

After determining what you value most and how you want to invest, we gather all your financial information to identify how it fits in with your legacy. This will pave the way for a goals and gaps analysis, where you can see where you are currently on track and identify opportunities to refocus and reach your goals. 

Step 2: Strategy Development and Implementation

Identifying your goals, gaps, and desires for your legacy helps us create a strategy for your values and valuables. Our financial advisors do not replace your legal advisers or CPAs. We build on your estate plan’s basics to create a strategy focused on intentional stewardship and values-aligned wealth management. We help you implement your plan and begin experiencing the fruit of your legacy right away. 

Step 3: Ongoing Monitoring

Just because the initial legacy conversation is over doesn’t mean the legacy coaching process ends. Ongoing monitoring of your tax information and other financial statements ensures you are on track to reach your goals and leave the legacy you desire. If questions or changes arise, our team is there to help you realign your legacy plan to meet your needs. 

Caring For Your Legacy

OneAscent’s Legacy Coaching enables you to steward your estate at a deeper level. These decisions have a significant impact on your life and those around you. We want to take the aspects of your legacy that you can put on paper and bring it to life, starting today. Schedule a legacy consultation to leave your legacy by design!

Past performance may not be representative of future results.  All investments are subject to loss.  Forecasts regarding the market or economy are subject to a wide range of possible outcomes.  The views presented in this market update may prove to be inaccurate for a variety of factors.  These views are as of the date listed above and are subject to change based on changes in fundamental economic or market-related data.  Please contact your Financial Advisor in order to complete an updated risk assessment to ensure that your investment allocation is appropriate.