Everyone leaves behind a legacy. Regardless of how much money you have or who you left behind, your life will shape this world in important ways. It is up to you to determine what those ways are and how you want to be remembered. There are many things you can do at all phases of life to begin to build and protect your legacy and the Law Offices of Cheryl David wants to help you make sure you are proud of what you leave when you pass away.
Our Greensboro legacy planning law firm provides comprehensive assistance to people young and old who wish to create a legacy plan. Whether you want to support causes you believe in, care for kids, leave a gift to loved ones, or do all of the above, we can help you to develop a plan and put appropriate legal tools to use to accomplish your goals. We serve clients in Guilford County and surrounding areas and we are ready to help you get started today. Give us a call to find out more about the assistance we offer clients and to get help with questions about legacy planning including:
- Why should get help with legacy planning?
- What should be included in my legacy planning process?
- How can a Greensboro, NC legacy planning lawyer help me?
Why Should I Get Help with Legacy Planning?
Many people know what causes they want to support or who they want to leave money to, but they are not certain of the best ways to facilitate the transfer of assets or to accomplish their goals. There are lots of different legal tools available, from the creation of a simple will to inter vivos giving (giving during your lifetime) to tools facilitating the transfer of assets upon your death. You want to determine which of the legal tools will best accomplish your aims.
You also want to make sure you have taken steps to protect your money and your property while you are alive so you can leave a legacy behind. Too many people have to spend their life savings on nursing home care because they have not created a plan ahead of time to shield their assets and qualify for Medicaid nursing home coverage. You don’t want to be forced to spend down assets and be unable to leave money or property to your loved ones or to the causes you support.
What Should Be Included in My Legacy Planning Process?
The specifics of your legacy planning process need to be custom tailored to what you hope to achieve and what you want your legacy to be. Some of the different things which you may need to do in order to create a plan for what mark you want to leave on the world include:
- Setting goals. How much do you want to leave to your loved ones or to charities you support?
- Creating an asset protection plan. By transferring assets into trusts and making inter vivos gifts long before you need nursing home care, you can ensure that your assets are protected. You can also ensure that you have protected your money and property in case the next generation who inherits is not able to effectively manage money or faces bankruptcy or divorce.
- Creating a business succession plan. If you’ve built a company, it is an important part of your legacy and you want it to survive long after you are gone. A business succession plan can help to ensure that your business survives your death.
- Creating an incapacity plan. You need to ensure that your property, assets and investments are managed in case of incapacity so they can be left to the next generation or causes you believe in rather than being lost or wasted through mismanagement.
- Creating an asset transfer plan. You want to determine the best ways to distribute assets to loved ones or to charities you support.
An experienced attorney will help you to explore which legal tools are best for you to use to preserve and protect your legacy.
How Can a Greensboro, NC Legacy Planning Lawyer Help Me?
The Law Offices of Cheryl David provides full service assistance with the elder law, financial planning, asset protection, and estate planning issues which are a key part of creating a strong legacy. We have helped many clients in Greensboro, NC, Guilford County, and surrounding regions of North Carolina to ensure they are leaving a positive mark on the world and making a difference in the lives of those they love. To learn more about how we can assist you in shaping and protecting your legacy, give us a call at (336) 547-9999 or contact us online.