When you contemplate the implications of your passing, you need to to consider how you feel about your legacy.
There are a wide range of possibilities, and on one end of the spectrum there are those who really do not care too much about it. These individuals go through life spending as they see fit without any concern about what may or may not be left over to be passed on to their loved ones when that time arrives.
On the other end of the spectrum there are people who have very clear-cut ideas about how they want to provide for their family members.
Many of these individuals will feel strongly about providing educational opportunities for younger heirs. Some will want to provide a financial underpinning for their loved ones through the creation of trusts. And many people are passionate about including a charitable giving component.
When you are committed to making certain provisions for your loved ones you have to identify your goals early on so that you have the time to accumulate the resources that you need to make this vision a reality.
You must then formulate a framework to live by so that you are acting in an informed manner every step of the way in an effort to attain these long-term objectives.
If you ask the experts they will tell you that advance planning is at the root of all forms of financial success. The best way to map out a cogent strategy is to engage the assistance of a licensed and experienced Hartford legacy planning attorney.