047: How Legacy Planning is More Than an Estate Plan with Mark Kenney

Retirement Road Map®

There are five worlds of financial planning: income, investment, tax, health care, and legacy–and today’s episode is all about legacy. We believe your legacy is more than your estate and the assets you leave behind.

The fact is, if you don’t take control of your legacy with proper financial planning, someone else will. These are tough conversations to have for most people, but by the end of the episode, our goal is to help you feel comfortable taking that first step and getting started.

We’re happy to have someone like Mark Kenney at SHP share his expertise and experience. Today, we’ll discuss how legacy planning impacts every other part of your financial plan, simple ways to reduce your estate taxes, and the key touch points you should be aware of as you create your legacy plan.

In this podcast interview, you’ll learn:

• Why legacy is an integral part of every financial plan.
• The common complications that arise in legacy planning and passing assets on to children or other beneficiaries.
• How (and why) certain clients choose to gift to their beneficiaries over the course of a lifetime, rather than just after they pass.
• Why the rules for gifting are more generous when it comes to education (529) accounts.
• What makes legacy planning so difficult for DIYers.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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