Leaving a Mark That Lasts: Practical Legacy Planning
Most high-net-worth families think about what they’ll leave—but not always how it will be delivered or whether heirs are ready.
At FMD Wealth Advisors, we’ve seen the strongest plans address all three areas below.
What You Pass On: Assets, Principles, and Purpose
It starts with assets, but an effective legacy also reflects your priorities.
Use trusts to shape outcomes and manage taxes
Irrevocable Trusts, Charitable Remainder Trusts, and Generation-Skipping Trusts can:
Move appreciating property outside your taxable estate
Control timing and conditions for beneficiary distributions
Add protection from creditors and potential claims
Give during your lifetime to magnify impact
Annual exclusion gifts can transfer wealth tax-free each year
Lifetime exemption gifts can take advantage of current limits
Family Limited Partnerships (FLPs) can transfer business interests with valuation discounts
How You Transfer: With Intention and Safeguards
A thoughtful plan isn’t just a distribution list—it’s a framework.
Life insurance as a planning tool
Properly structured coverage can:
Provide liquidity to pay estate taxes so heirs don’t have to sell key assets
Help equalize inheritances when one beneficiary takes over a business or real estate
Philanthropy that matches your values
Donor-Advised Funds (DAFs) offer flexible, streamlined giving
Charitable Trusts can create income now and commit the remainder to charity later
Private Foundations allow long-term family involvement and control
Who You Prepare: Heirs Ready to Be Stewards
Even the best documents won’t succeed if the next generation isn’t prepared. Families often see wealth dissipate within two or three generations—not because the plan failed, but because education and alignment were missing. Consider:
Hosting periodic family meetings to set expectations
Building a financial education path for children and key beneficiaries
Introducing heirs to your advisory team before a crisis
Why FMD Wealth Advisors
We’re a fee-only fiduciary—no commissions, no product sales, and no hidden incentives. Our planners coordinate with your CPA and estate attorney, help prepare your heirs, and stay engaged as needs evolve. What sets us apart:
No commissions or product sales—ever
Specialists in estate and tax strategies
Tailored education for you and your heirs
Ongoing updates as laws and family dynamics change
Build the Legacy You Intend
Your wealth reflects decades of work and wise choices. Let’s ensure it serves a lasting purpose.
Schedule a Free Assessment with an FMD Wealth Advisors CFP® professional to:
Review your current legacy structure
Identify missed opportunities
Design a plan that protects what matters most
Frequently Asked Questions
What’s the difference between estate planning and legacy planning?
Estate planning focuses on the legal transfer of assets after death. Legacy planning includes that and emphasizes minimizing taxes, preparing heirs, and making sure wealth supports a long-term purpose.
What strategies work best for wealthy families?
Common tools include irrevocable trusts, lifetime gifting, philanthropic structures, life insurance for liquidity/equalization, and heir education.
When should I start legacy planning?
Now. The earlier you begin, the more options you’ll have.
How can FMD Wealth Advisors help?
We create custom legacy plans aligned with your goals and family values. Our advice is fee-only and in your best interest, with coordinated support alongside your attorney and CPA.
Disclosures: FMD Wealth Advisors LLC (“FMD Wealth Advisors”) is a Registered Investment Adviser.
This material is for general information only and is not individualized legal or tax advice. Consult your attorney and CPA regarding legal and tax matters specific to your circumstances. This content is intended to provide general information about FMD Wealth Advisors. It is not intended to offer or deliver investment advice in any way. Information regarding investment services is provided solely to gain an understanding of our investment philosophy, our strategies and to be able to contact us for further information.
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