When it comes to the financial dimension, it’s usually best to begin with the end in mind. Sadly, only a small percentage of individuals create a comprehensive and thoughtful estate plan. Often they are deterred by the time and effort they perceive it takes, or simply want to avoid thinking about their own mortality. Many postpone it as a “necessary evil” they will eventually address in the least costly way. As a result, few people recognize their true financial capacity – not only to realize a secure life for themselves and plan a thoughtful family legacy, but to create lasting significance through philanthropic giving. If only estate planning were seen as so much more than death planning.

However, when people come to understand the personal and social dimensions of legacy, it can often generate excitement and enthusiasm about the planning process. They become eager to engage more intelligently in the financial dimension, once they appreciate how it will serve as the foundation upon which they can create a more impactful life and a more meaningful legacy that will personally reflect their life’s influence, interests, and values.

To help people explore this broader and deeper view of legacy, we encourage them to think about their “dreams and fingerprints” and ask them to complete this statement: “When I have more money, I’d like to …” The answers that begin to emerge are the leading indicators of the person’s dreams.

We also ask people to think about how they want to be remembered: what do you want your fingerprints on? Responding to this prompt leads to further reflection and, often, unexpected insights about what really matters to them personally.

Determining how to leverage financial resources to enable both dreams and fingerprints begins to transform traditional financial planning from a risk management exercise to a more intentional and proactive way of creating a better life and legacy.

In my next post, we’ll explore the personal dimension of legacy.

Peace,

Ron