Philadelphia PA Estate Planning Blog

Monday, April 21, 2014

Ingredients For A Positive Legacy

A good legacy plan one made with the following ingredients:

  • Clarity - Making sure your instructions and wishes are clear is imperative.
  • Customized Plan - Your legacy plan must be crafted by your unique circumstances, personality, portfolio, morals, and more. 
  • Consultation - You should consult with a qualified attorney that asks many questions about you, your family and your goals.
  • Communication - An open dialogue with your family about your plan is crucial to its success. It makes little sense to me to surprise your loved ones upon your death. 
In many cases today, I find my clients have significant IRA’s, but little thought is given to how that fits into their legacy.  Many folks that I meet with think they will spend down their IRA in retirement, yet more and more children and grandchildren are inheriting IRA's.  IRA's are a great tool for legacy planning, but you must sit down and plan ahead of time for IRA planning to be useful. 

My last bit of advice: Don't make legacy planning a one time exercise.  Go back to your plan regularly and tweak it as needed. There are bound to be changes in your life or the lives of people around you.  Make sure your plan reflects those changes.

Archived Posts


The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

© The Law Offices of Jeremy A. Wechsler | Disclaimer | Law Firm Website Design by Amicus Creative

© 2017 The Law Offices of Jeremy A. Wechsler | Disclaimer
2300 Computer Avenue, Suite J-54, Willow Grove, PA 19090
| Phone: 215-706-0200

Wills and Trusts | Probate / Estate Administration | Elder Law / Long Term Care | Powers of Attorney | Life Insurance / Long-Term Care Insurance | Special Needs Planning | Same Sex Couple Planning | Asset Protection | Estate Planning For Pets | Retirement Planning | Retirement Account Trusts | About Us | Resources

Attorney Website Design by
Amicus Creative