Legacy

Learn how you can establish abundance in your life and pass it on to your generations that come behind you.

Currency Wizdom's Legacy Track

Options for Legacy Through Estate Planning with Currency Wizdom:

Wills:

• Simple Will: A basic document that outlines your wishes for the distribution of your assets after your death.

• Complex Will: A more detailed will that can include provisions for guardianships, trusts, and specific bequests.

• Revocable Living Trust: A trust that can be modified or revoked during your lifetime, often used for asset protection and probate avoidance.

• Irrevocable Living Trust: A trust that cannot be modified or revoked after it is established, often used for estate tax planning.

Trusts:

• Testamentary Trust: A trust created by your will, taking effect after your death.

• Spendthrift Trust: A trust designed to protect beneficiaries from creditors and mismanagement.

• Charitable Trust: A trust established for charitable purposes, providing tax benefits.

• Qualified Personal Residence Trust (QPRT): A trust used to transfer ownership of your primary residence to your heirs while retaining the right to live in it.

Other Options:

• Life Insurance Policies: Designate beneficiaries for your life insurance proceeds.

• Retirement Accounts: Consider beneficiary designations for retirement accounts like IRAs and 401(k)s.

• Gifting: Make gifts during your lifetime to reduce your taxable estate.

• Charitable Giving: Donate to charities to support causes you care about.

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It's important to consult with an estate planning attorney to determine the best options for your specific needs and goals. They can help you create a comprehensive estate plan that ensures your wishes are carried out and your loved ones are taken care of.