Wealth management planner Michael Burgoyne advises clients to approach planned giving with purpose
This is a guest article by Michael Burgoyne. Michael is the Founder and President of Laurus Wealth Management, a financial firm associated with LPL Financial, located in Vancouver, WA. He is passionate about trying to help clients create and manage wealth consistent with their values.
I am often asked about the topic of estate planning, and equally often I bring the issue up in a discussion. No one really seems too interested in talking about it at first – for me, estate means that I have to die and someone gets my stuff, neither of which I want to contemplate at this stage of life.
Webster defines legacy as something transmitted by or received from an ancestor or predecessor or from the past, as in,“He left his children a legacy of love and respect.”
If we start with the questions: Who do I love? What do I care about? and What do I want to be remembered for? It can certainly get us more in the spirit of accomplishing legacy planning in a proactive and purposeful manner.
For those who are deeply and emotionally attached to an organization, this legacy can be either a living legacy, a testamentary legacy (at death), or both. Notice the question isn’t limited to who are my kids, grandkids, siblings, niece, and nephews, etc. The question is, Who do I love?
For many, this includes the non-profit they have volunteered with or served for a number of years, or where they have been faithful financial supporters — they have given their proverbial time, talents and treasures. That is not to say we disinherit direct biological heirs, but rather we include those others (individuals and organizations) that mean very much to us.
Want to learn more about Estate Planning? Explore our Estate Planning page to learn about the tax and other benefits of planned giving, and the many ways to include Children’s Center as you craft your own a lasting legacy.
“Who do I love? What do I care about? What do I want to be remembered for?”
— MICHAEL BURGOYNE
