After extensive research we’ve developed a list of the Top 10 Reasons people create a legacy plan:
Top 10 Reasons to Plan a Legacy
- Influence the lives of your children and grandchildren by passing on what matters most: your values and life lessons, final wishes, most prized personal possessions, and financial assets.
- Save your spouse or partner a lot of trouble, expense and frustration that often arise in the aftermath of death so that they can grieve properly.
- Plan and record your legacy exactly as you envision it now while you’re thinking clearly—not when an illness or health scare arises and emotions and sensitivities get in the way.
- Let your wishes be known and feel comfortable knowing that your survivors will make better, more informed decisions—decisions that remain faithful to who you are and what you desire.
- Relieve some of the administrative details by recording the location of critical documents (like your health care proxy, will, birth and marriage certificates, military papers, deeds, titles, insurance policies, tax returns, and account statements).
- Share your important personal and medical history details with your surviving loved ones.
- Discuss your thoughts on end-of-life celebrations and/or memorials.
- Ensure that your family traditions and values are preserved for future generations.
- Gain clarity, control and most of all, peace of mind.
- Express one more “I love you” after you’re gone … deliver one last letter after your death reaffirming your love, sharing memories, and relishing milestones of your life together.
What if you had four months to live?
What if you found out you had four months to live? How would you want to be remembered? Would you …
- Be motivated to prepare for death?
- Take rudimentary steps to ensure your affairs were in order?
- Spend time reflecting on the values you learned in life?
- Attempt to communicate with your loved ones, making certain they knew of your love for them, and how much you treasured your memories together?
- Make sure loved ones knew where to find important documents and information?
- Try your best to reduce foreseeable disagreements over burial decisions or distribution of your belongings?
- Attempt in some small way to reduce the burdens on your grieving loved ones as you awaited the inevitable separation from them?
It is said that part of living a good life is being prepared for its end. That's the lesson offered by Eugene O' Kelly, former CEO of accounting firm KPMG. In May 2005, O'Kelly was diagnosed with terminal brain cancer. In the last four months of his life, he wrote Chasing Daylight: How My Forthcoming Death Transformed My Life, in which he urges everyone to spend time reflecting on their own mortality—before it's too late.
"If how we die is one of the most important decisions we can make, then why do most people abrogate this responsibility? For those considering taking the time someday to plan their final weeks and months, three words of advice: Move it up."
The legacy planning process allows you to plan your final weeks and months in advance because as anyone who's experienced a sudden loss knows, death doesn't always give us fair warning.
Legacy planning puts you in control of making your wishes known, organizing your affairs, and reducing the burden on your family. It also gives you sufficient time to reflect on the values that have guided you throughout your life, to share them, and to document the precious memories you enjoyed with your loved ones. It's the ultimate gift.
