In the grand tapestry of life, each of us weaves a unique thread – a legacy that extends far beyond our years. Legacy planning isn’t just about the distribution of wealth; it’s about leaving behind a lasting impact that reflects our values, aspirations, and the footprint we wish to imprint on the world.
At Paradigm Norton, we spend a lot of our time helping people to use their money to live life to the full. Money is a means to an end – not an end in itself.
Why Legacy Planning Matters
Legacy planning goes beyond financial considerations; it’s about preserving your values, wisdom, and life lessons for future generations. It’s about passing down a heritage of knowledge, philanthropy, and integrity that enriches the lives of those who come after us. Whether you’re a seasoned professional, a growing family, or a retiree reflecting on your life’s journey, legacy planning ensures that your impact endures long after you’re gone.
Our Approach to Legacy Planning
At Paradigm Norton, legacy planning is not a one-size-fits-all endeavour; it’s a deeply personal and bespoke process tailored to your unique aspirations and values. Our experienced advisors work closely with you to understand your vision for the future and translate it into a comprehensive legacy plan. We guide you through the intricacies of estate planning, charitable giving, and wealth transfer strategies, ensuring that your legacy reflects your values and leaves a positive mark on the world.
Getting started with your legacy planning
Legacy planning encompasses various facets. From making charitable donations to gifting assets to loved ones, from documenting your life story to passing down cherished family heirlooms, we help you identify and actualise the elements that comprise your enduring footprint. With careful consideration and strategic foresight, we ensure that your legacy resonates with authenticity, purpose, and impact.
A great place to start is to think about the following three questions. They help give you clarity over what you want to achieve. We can then recommend solutions which help you to do this.
Firstly, “Who do I want this to benefit?” Write a list of the people and/or organisations that you have in mind. Start to think about why you want them to benefit. Some people also have strong views about those who should not benefit, and it is equally helpful to have clarity on why.
Secondly, “What impact do I want to have on them?” Next to each name write down what impact you want to have on them. One way to think about impact is the amount of money you give relative to the recipient’s wealth, clarity on their goals, and proximity of their goals. It’s quite possible that you don’t know some of this and may need to have some clarifying conversations along the way.
Lastly, “When do I want this to happen?” At the highest level this means will you be alive, or dead, when they receive this money. However, it’s helpful to get a bit more granular about when. This links into the impact point above as they might already be financially independent when you die, but a gift earlier on might be more powerful. It also seeds the question of how much control over access do you want to put in place?
Do you have concerns about potential divorce, bankruptcy or bad lifestyle decisions being made?
The Paradigm Norton Difference
What sets Paradigm Norton apart in legacy planning is our unwavering commitment to personalisation, integrity, and excellence. We take the time to understand your values, aspirations, and concerns, building a trusted relationship based on mutual respect and understanding. Our holistic approach considers not only your financial assets but also your intangible assets – your values, passions, and life experiences – to create a legacy plan that reflects the essence of who you are.
If you’re asking yourself about the rate of tax likely to apply, how you can give up control, whether you can really have your cake and eat it and wondering whether there are other options to giving your cash away, download our free guide here.
Embrace Your Legacy Journey
Your legacy journey begins now – a journey of reflection, intention, and purpose. Together, let’s craft an enduring footprint that leaves a lasting impact on the world and generations to come. Get in touch today to start your journey.
