Generational Wealth Planning: 10 Essential Questions for Your Legacy

Hello Beloved,

Estate planning, as we all know, is more than just ensuring the smooth transfer of your assets after your transition. It’s about crafting a legacy that safeguards your loved ones’ future, preserves your hard-earned assets, and leaves a positive impact on your community.

Below are ten guiding questions that will help you build a comprehensive plan—one that not only addresses legal formalities but also honors the values you wish to pass on to the next generation.

1. Who Do You Want to Provide For After Your Death?

At the heart of estate planning lies the intention to care for the people (or causes) you value most. Begin by listing the individuals or organizations that matter to you—family members, close friends, charities, or community institutions.

2. What Assets Do You Have, and How Should They Be Allocated?

A legally binding document that outlinesYour assets, whether vast or modest, hold tangible and emotional value for your beneficiaries. Make sure you have a clear plan for how you’d like these to be divided, from real estate and investments to treasured family heirlooms.

3. Do You Have a Primary Beneficiary, and Who Is Next in Line?

Naming a primary beneficiary is key, but it’s just as important to consider contingencies. If your first choice cannot inherit (for any reason), be sure you’ve identified a backup so your wishes remain intact.

4.Who Would Care for Your Minor or Disabled Adult Children?

Selecting a guardian is among the most significant decisions in your estate plan. Choose someone who shares your values and can provide a stable, nurturing home for your children.

5. Who Should Inherit Your Assets, and in What Proportions?

Different assets may be earmarked for different people or purposes. Clearly outline how you’d like your financial and physical assets distributed to prevent confusion down the road.

6. Who Oversees Daily Care for Your Children?

If you’re caring for minor or disabled adult children, think beyond guardianship. Identify who will manage their day-to-day needs and finances—healthcare, education, and other essentials—to ensure continuity of care.

7. How Much Is Needed for Your Children’s Care and Education?

Calculate the financial requirements for your children’s daily living, extracurricular activities, healthcare, and schooling. Specifying the exact amounts and sources of these funds can provide invaluable guidance for future caregivers.

8. Who Manages Your Financial Affairs if You Become Incapacitated?

An unexpected illness or accident could render you unable to handle your financial and legal matters. Designate a trusted individual to act on your behalf to safeguard your interests under these circumstances.

9. Who Will Raise Your Children if Both Parents Die?

This is a scenario no parent wants to imagine, but detailing a plan for who would step in as guardian—and how—can prevent legal complications and emotional distress later.

10. Have You Accounted for All Potential Beneficiaries?

Families grow and change. Make sure your estate plan stays up to date, considering all possible descendants and beneficiaries, even if they’re not front-of-mind today.

Final Thoughts

Every family’s situation is unique, and these ten questions are just the starting point. Whether your estate is straightforward or complex, clarity now will save your loved ones from confusion and conflict later.

Estate planning goes beyond the legal documents; it’s a reflection of your deepest values, your love for family, and your hope for future generations. By taking the time to address these essential questions and seeking professional advice, you’re not only securing your assets—you’re shaping a legacy that reflects who you are and what you stand for.

Ready to Begin Your Legacy Journey?
○ Sign up for our #30DayLegacy Challenge to jumpstart your estate planning journey.
○ Purchase your Estate Plan Package on our Shopify store and get 15% off.
○ Download our free Estate Planning Ebook to learn more strategies you can put into practice today.

Taking action today ensures your story is told exactly the way you intend—during your lifetime and for years to come.

Keep Living!