Understanding Legacy Planning In Chicago
Is there a difference between estate and legacy planning? Traditionally, estate planning plans for death or some type of disability. It involves the transfer of your assets to loved ones after you die. Many financial advisors have rebranded the term estate planning because many people see it as something that only the wealthy do. This is why the term legacy planning has become more popular in Chicago and other parts of the United States.
All in all, there aren’t many differences between estate and legacy planning; however, the latter tends to account for charitable contributions as well. It doesn’t matter what this type of planning is called, the bottom line is that you’ll want the transfer of assets to flow smoothly after your death. The best way to make this happen is to consider legacy planning Chicago solutions that are available to you. A professional legacy planner can help.