Legacy Tips of the Week

Legacy Leaders Network

January 03, 2024

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Legacy Leaders Network

Tips of the week!

Trivia Question❓

In the realm of legacy planning, can you name a famous individual who left behind a peculiar stipulation in their will, showcasing their love for their pet? Additionally, can you share the exact amount of money bequeathed to the beloved pet?

Answer at the bottom of the newsletter

Quote of the Week:

"If you plan for a year, plant a seed. If for ten years, plant a tree. If for a hundred years, teach the people." - Kuan Chung

Interesting Facts

Why did the cheetah always include legacy planning in its survival strategy?

Because it didn't want its family tree to be a "leopard-y" mess!

Tip of the week:

Be sure to regularly review and update your beneficiary designations for your retirement accounts, life insurance policies, and other assets.


This ensures that your assets will pass to the intended individuals or organizations and avoids any complications or disputes after your passing.

Interesting Facts:

  • Legacy planning involves more than just a will: Many people think legacy planning is just about drafting a will, but it actually covers a broader scope. Legacy planning includes considering and managing assets, estate taxes, beneficiaries, healthcare directives, and charitable giving strategies, among other things.


  • It can help preserve family values and traditions: Legacy planning isn't solely about transferring wealth; it also focuses on passing down family values, beliefs, and traditions. It allows individuals to ensure their family legacy lives on through storytelling, creating family mission statements, and establishing guidelines for future generations.


  • Legacy planning encompasses digital assets: In today's digital age, it's essential to address digital assets in legacy planning. This can include preserving and passing on important digital files, such as photos and videos, managing social media accounts, and establishing protocols for online passwords and access to digital accounts after one's passing.


💡 Answer to Trivia Question:

The world-renowned fashion designer Karl Lagerfeld left behind a staggering $200 million to his beloved cat, Choupette Lagerfeld. This substantial inheritance made Choupette one of the wealthiest pets in the world.

See you on Thursday's Call!