Legacies are the footprints we leave behind. They prove that we lived, we mattered, and we made a difference.
At Morgan Law Center, we believe that assets of the heart should receive as much care and attention during the estate planning process as assets of a financial nature. This philosophy is a core principle of our mission statement and explains the reason our firm refers to itself, in part, as a center for legacy planning.
A recent study performed by Allianz Insurance Institute confirmed what we have been sharing with our clients for many years: children would much rather inherit heart assets from their parents such as a letter written to them, a recording of their memories and life lessons, or the stories that accompany their family’s heirlooms, than their parents’ money. Sadly, the vast majority of estate planning professionals do not even discuss this issue with their clients, much less encourage them to create a plan that encompasses these assets of deep emotional significance.
Early in her estate planning career, Teresa saw that this need was not being met and began her education and training in areas that would enable her to effectively lead her clients to create a legacy of true substance. As a result, Teresa’s clients contemplate the manner in which their financial assets would best serve their loved ones and/or community, and weave their wisdom into their plans. They share the experiences that were important in their lives in such a way that their grandchildren and great-grandchildren can enjoy and benefit from them. And instead of simply leaving all of their “stuff” for their family members to sell at a yard sale, they identify those items that are “treasures” and pass them along with the backstory of the treasure’s significance.
As a result of Teresa’s thoughtful process, her clients are better equipped to leave a meaningful, impactful, and lasting legacy – one that is much deeper than their pocketbooks.
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