Legacy planning addresses how we want to be cared for and how we wish to care for others.

Both aspects gain in being well thought-out and organized. Legacy planning involves empowering a team of relatives, friends and professionals who would swing into action should we need them to act on our behalf. Legacy planning also provides for our best wishes to materialize during and beyond our lifetime—whether they be to benefit loved ones or charitable causes.

Estate planning is often perceived as being about tax planning and legal documents. It certainly involves both. Yet it mainly involves formalizing what we value for ourselves and others.