In simple terms, a legacy is passed from one generation to the next and often refers to gifts of money or property. But it can include so much more. A legacy may be of one’s faith, ethics, and core values. It may come from one’s character, reputation, and the life you lead – setting an example for others as a guide to their future.
“Your legacy is every life you’ve touched”
At FirstWave®Financial we specialize in helping our clients invest, protect, and enjoy their wealth. Through our transformative process called The WealthCare Solution™, these clients often experience a deeper and deeper awareness and understanding of the strategies and actions that are required to successfully address the complexities that wealth can bring. Many of these strategies and actions are not intuitive, come up against the strong emotions of fear and greed, and ignore the latest fad. Without the financial advocacy of your FirstWave®Financial WealthCoaches™, it is easy to make poor financial decisions, sometimes financially fatal ones.
Wouldn’t it be nice to pass on to your heirs the knowledge and experience you have gained dealing with the complexities that wealth can bring, helping them to avoid some of the mistakes you have made and to take advantage of the opportunities before them?
Many families find this difficult to do. It has been said that conversations about family money and wealth are one of the last taboo subjects. Some families are more comfortable discussing hotly-debated topics, rather than how much money they have, who is going to get how much, when they are going to get it and how they hope their family wealth affects future generations. As a result, many heirs are left in a state of bewilderment about what to do with sudden wealth, leading them to make poor financial decisions. Not the best legacy.
Working with your FirstWave®Financial WealthCoaches™ and an estate planning attorney to create and draft estate planning documents is an important first step, but only the first step. At the appropriate age and maturity level of your heirs, efforts should be taken to communicate (first in general terms and then in more and more detail) how your estate plan works and what you hope it accomplishes.
Once the natural resistance to such conversations is overcome, you may discover a new level of intimacy and connectedness in your family. That’s because how we deal with money permeates much of what we do. How we deal with money reflects our faith, ethics, and core values. How we deal with money reflects our character, reputation, and the life we lead. As we often say – It’s about more than money.
To find out how we can help you transform the complexity and confusion surrounding this important topic into your improved WealthConfidence, call us today at (321) 773-7773 to schedule your free initial consultation with one of our WealthCoaches™. For more information about FirstWave®Financial check out our website at www.firstwavefinancial.com