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Treasured Social Butterfly
Posts: 19,390
Registered: ‎12-25-2011

Re: Your "Financial Legacy"

Message 11 of 17 (2,292 Views)

@mr28286382 - What a wonderful plan!


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Registered: ‎01-01-2016

Re: Your "Financial Legacy"

Message 12 of 17 (2,465 Views)

I do not have any children or anyone special to leave my estate to.  So I set up an endowment with a foundation in our state.  The endowment will get everything if I die prematurely and anything that is left if I live a long life.  The endowment is for the care of Alaskan pets, specifically, for those pet owners who cannot afford life long medication or medical procedures and would, otherwise, have to put their pets down.  It is also for long term capital projects, such as building new facilities to house ownerless pets.  The foundation does not have my name on it because I want others to feel comfortable in contributing to it.  My legacy is that I started the foundation and that is enough for me. 

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Registered: ‎10-05-2016

Re: Your "Financial Legacy"

Message 13 of 17 (2,583 Views)

I plan on spending every time. I'm not leaving anything to anyone  when I'm old and can't help myself but me on Medicaid and throw me in a nursing home. At least I will have had a good time 

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Posts: 1
Registered: ‎05-31-2011

Re: Your "Financial Legacy"

Message 14 of 17 (2,249 Views)

I was once told after my dad perished in our family home house fire, that everyone (not just my dad) has a legacy... this was a profound statement to a freshly new fatherless daughter. It was with this statement in addition to my father asking me "what will you do with your inheritance?" just 9 hrs before his tragic death (fire was completely accidental) that I knew then that the hard work of my parents, grandparents etc needed protected. In addition to both my husband and I being avid savers all of our lives, I acquired a life insurance policy that will allow charitable organizations that my family found important to benefit from these proceeds. Maintaining a "legacy" in their names is extremely important to me. BTW, my answer to my father was "I don't know but I know it won't be squandered".

Treasured Social Butterfly
Posts: 19,390
Registered: ‎12-25-2011

Re: Your "Financial Legacy"

Message 15 of 17 (1,454 Views)

I'm not really close to my 1st cousins' children, and my 1st cousins are all older than I am. I expect to give some gifts to the cousins & their children with whom I spend holidays, but the bulk of my estate will go to charity .. about a dozen or so organizations. As I get older, I'd like to meet with them to discuss specific capital or major projects they need funding, so the money does more than just pay the routine bills.


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Posts: 7,020
Registered: ‎02-14-2008

Re: Your "Financial Legacy"

Message 16 of 17 (1,437 Views)

Well, we're not trying to be 'remembered', but we have drawn up the trusts and named all the family members as heirs to whatever estate is left over. We are mulling over some charities and specifying an amount to be left --- didn't do that in the trusts. We may just gift some larger amounts to a few of our favorite charities now, instead of waiting.

   The major thing we're going to do, starting this year, is to pretty much give away all SS to nieces and nephews. We'll keep the 'nest egg' intact since we don't know what will happen long term.  We have a pretty good group of nieces and nephews with decent education/training and all working, some starting families, but of course, everything is expensive. We'd like to help them now, while they're younger.

    We're fortunate to have relations without drama (other than sibling squabbles), so we want to help out. Happy Easter --- things to do.............


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Treasured Social Butterfly
Posts: 19,390
Registered: ‎12-25-2011

Your "Financial Legacy"

Message 17 of 17 (1,410 Views)

Do you have a "Financial Legacy" for which you've planned? Is it just the usual hope that there will be something left for your children and other relatives? What about charitable bequests? If you don't have children, spouse or other close family, do you expect to need you're whole nest egg to live, or do you have a plan for your estate, to be remembered?


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