Legacy Planning

During the next fifty years, Americans will experience the largest multi-generational transfer of wealth in the history of the world. A recent study conducted by Boston College’s Center on Wealth and Philanthropy estimated that this upcoming transfer of wealth may be as high as $60 trillion.* With that sizable inheritance at stake, dangers lurk around every corner and the need for proper planning is more important now than ever before

At Great Lakes Legacy Group, LLC, we believe that the most critical planning phase begins at or near retirement. While many financial advisors choose to “stay the course” and have a post-retirement plan similar in nature to your pre-retirement plan, we recognize that retirees may have a different set of concerns and a different set of goals. To us, wealth preservation takes a front seat to wealth accumulation.

While no one plans to fail, the failure to plan can have detrimental effects on the wealth that you have worked so hard to accumulate and on the legacy that you intend to leave behind for your family. Social Security & Pension income planning, market risks & investment planning, health care costs, nursing home expenses & Medicaid Planning, Probate courts & attorney costs, income tax, inheritance tax & estate tax planning … all are examples of various issues that can represent threats to your personal wealth. Proper planning is crucial to reduce and/or eliminate as many of these threats as possible.

High net worth families have long benefited from the results of proper estate, financial, and legacy planning … this still rings true today. Unfortunately, families that do not have a high net worth have generally been underserved. At Great Lakes Legacy Group, LLC, we believe that families with smaller nest eggs are the least able to absorb devastating hits to their personal savings. Proper estate, financial, and legacy planning can no longer be provided only to the privileged few.

At Great Lakes Legacy Group, LLC our philosophy is simple … plan for the worst, but hope for the best. Our goal is to guide you through these complicated retirement issues. Our hope is to reduce or eliminate the concerns that bother you most. Our commitment is to help you arrive at decisions that make the most sense for your particular situation. Our ongoing promise is to help ensure that your legacy is passed along as efficiently and cost-effective as possible in accordance with your wishes.



The information contained herein is for general informational purposes only and is not intended to represent specific legal, tax, or investment advice.

*Boston College’s Center on Wealth and Philanthropy released on 5/28/2014.