Can you manage your legacy from your grave?

Can you manage your legacy from your grave?

Can you manage your legacy from your grave?

by | Inheritance

If you have been successful enough to be leaving a significant legacy to your children, how can you ensure that your wishes for them and their futures are met?

What happens when you treat them equally but the outcome for your children leaves them in different situations?

Let me give you an example.  Imagine you have 2 children and gift them 2 adjacent houses in your will.  Child A has a long term outlook so they develop the house.  They build an extension and make improvements which create a huge profit when they sell.  Child B has a shorter term outlook and sells the house immediately for a much smaller profit.

The children were treated equally, however the decisions they made resulted in a huge financial disparity in the legacy that was left to them.

Could you have influenced this situation from beyond the grave?  Actually, yes you could, if you had acted in life!

Testamentary trusts, trusts that are created by will, can put these decisions and control of legacies into the hands of people you choose.  By creating a trust, you nominate people you trust – family, peers or professionals – to manage your legacy how you wish.

Your will can stipulate your wishes and desires with specific instructions and powers for your trustees.  If you select the right trustees, they will act on the best interest of your beneficiaries within the framework your will creates.  They can ensure that if you wanted all your children to benefit equally, they will.

Want to know more about trusts and estate planning?  Email me now at [email protected] or read my book which is available on my website or Amazon.

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Testimonials

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK...

Jenny Pearson, Consultant, Cambodia

2018-06-05T07:59:04+00:00

Jenny Pearson, Consultant, Cambodia

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK tax specialist) to keep my English and Cambodian assets completely separate. Cindy was able to work through all of that with me and I am confident that I now have everything properly covered."
"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and...

Jayne Hilton, Engineer, UK

2018-06-05T08:30:28+00:00

Jayne Hilton, Engineer, UK

"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and was always on hand to offer guidance and support. All in all an excellent service."
"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a...

Jim Swander, CEO, Cambodia

2018-06-05T08:37:50+00:00

Jim Swander, CEO, Cambodia

"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a project we all can easily put off, it removed an area of stress in my life. I no longer had to wonder if certain people would be taken care of, or where my money would go. Cindy and I worked through the process and she asked a lot of thought provoking questions. The first draft helped me think a second layer down, and made the will more complete. We finalised with her lawyer, signed, witnessed and put away in a safe place, letting my executor know exactly where to find it. I do not hesitate to recommend Cindy’s services."
"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid...

Moray Iles, Vietnam

2018-06-05T08:42:23+00:00

Moray Iles, Vietnam

"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid putting pressure or hassle to complete the Will quickly which allowed us to consider everything in our own time. Best of all, Cindy's professional support and thorough and clear explanation of the laws pertaining to our situation were very helpful. We would look forward to working with Cindy again on documents personal to our family."
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