What Does It Mean to Leave a Legacy?
When you hear the word legacy, you might picture attorneys, estate plans, or passing down a fortune. But a true legacy is more than financial. It’s your stories, your values, and the lessons you’ve learned and want to pass down. It’s what your family will remember, talk about, and carry forward. Knowing how to talk about legacy with family—openly and intentionally—can help ensure those things are preserved for generations.
The Five Dimensions of Legacy
Legacy is personal. It’s shaped by what you’ve done, what you value, and how you’ve cared for the people and world around you. At Cornerstone, we believe legacy planning should honor every part of your life. Here are five parts of your legacy worth thinking about:
- Financial Your savings, investments, and property are part of the picture. It’s also about how you’ve talked about money, modeled healthy habits, and helped others build financial confidence.
- Family The stories you tell, the traditions you’ve created, the recipes passed down through generations, these are the things your family will remember most. Even simple moments, like how you handled tough times or celebrated holidays, help shape family identity.
- Professional Whether you ran a business, built a career, or mentored others along the way, your work has played a big part in your life. Sharing what you’ve learned, what you’re proud of, and what you hope continues—especially if there’s a family business—helps keep that part of your legacy alive.
- Community How do you show up for others? Giving back doesn’t have to be formal to matter. Donating to causes or volunteering makes a difference, but so does being the one who helps shovel a neighbor’s sidewalk, shows up for church projects, or checks in on a friend going through a tough time. Everyday actions can speak volumes.
- Life Lessons Help your family know you and what you value by sharing your experiences – what’s shaped you, challenged you, or changed how you see the world. Talk about your mistakes, your proudest moments, and the things you wish you’d known sooner. These lessons are a gift.
By broadening your definition of legacy, and engaging in open communication about values, concerns, and priorities, you can help ensure your family’s legacy is preserved and cherished.
Tips for Hosting a Legacy Conversation
Start small and simple. Invite your family for a casual meal or set aside time during a family vacation. Be clear that this isn’t a typical family get together and have a loose agenda so everyone knows what to expect.
- Choose a comfortable, neutral setting where everyone can feel comfortable discussing their views and experiences.
- Establish a few ground rules, such as everyone’s opinion matters, treat each other with respect, and don’t interrupt.
- Use open-ended questions to spark stories, explore topics, and build trust.
Sample Questions:
- If money wasn’t an issue, what would you most like to do?
- True or False: “I’m not wealthy enough to be a philanthropist.” Explain why you think that.
- Who do you think was the hardest worker in our family—and why?
- What does the phrase “A fool and his money are soon parted” mean to you?
- What’s a family recipe or meal that brings back strong memories for you?
- How has your incomeshaped your life?
- Have you ever made a significant mistake with your finances? What did you learn?
- What’s a money decision you made that still makes you laugh?
- What’s something you’ve learned the hard way?
- Tell us about a time you felt really proud to be part of this family.
Support for Your Legacy Plan
These conversations can be a great first step but you don’t have to figure it all out on your own. We’re here to help you think it through and find the best way to honor what matters most to you.
Not a Cornerstone Client?
Rather than chasing returns or selling products, we believe wealth management is about understanding what matters to you and building a plan to support it. Imagine waking up each day confident your finances are in order, your loved ones are cared for, and you’re building a future that matters. We’re here to help you get there.
Call 605-357-8553 or email cfsteam@mycfsgroup.com to learn more with a complimentary, no-obligation strategy session.
