by Jeremy A. Wechsler, Esq.
Estate & Elder Planning Attorney | Investment Advisor Representative
[email protected]
What is a legacy? It’s not just money or property. A legacy is everything you’ve worked hard to build—and how you ensure it’s passed down to the people you love most. That includes your savings and investments, your home, your values, and anything else that matters deeply to you.
Even if your estate documents are in place, you might still be missing a critical piece: Communicating with your family about your plans. Because if you don’t have the conversation (or write it down), even the best-laid plans can go sideways. We see it all the time—smart, thoughtful people who’ve done everything “right” on paper, but never sat down with their children or loved ones to explain the plan. The result? Confusion, resentment, and sometimes permanent damage to family relationships.
As my dad used to say: “Think about what that first family meeting will look like after you’re gone. Will your kids still be speaking to each other?”
Start Before It’s Urgent
The best time to talk about your legacy is when emotions are calm—not during a health scare or hospital visit. A simple, positive approach goes a long way: “We’ve updated our estate plan, and we want to make sure everyone understands what’s in place and why.”
Be Honest and Thoughtful
You don’t need to reveal account balances or every line of your estate plan. But if you’re leaving things unequally, naming one child as trustee or executor, or making gifts to charity—talk about it now. This gives you the chance to explain your thinking and prevent surprises that could turn into hurt feelings later.
Explain Your “Why”
Legacy isn’t just about what you’re passing down—it’s about why you’re doing it that way. Maybe you want to help with grandkids’ education, support a favorite cause, or keep a property in the family. That context can turn a legal document into something meaningful and avoid disputes/bad feelings later.
Encourage Questions
This isn’t a lecture—it’s a two-way conversation. Give your family space to ask questions, even the hard ones. They may raise things you haven’t considered. And as I always say, if these questions arise after your death, the chance of a misunderstanding—or even a lawsuit—increases dramatically.
Work With a Pro Who Gets It
Having the legal documents in place is essential. But having a plan that’s clearly communicated? That’s peace of mind. A qualified advisor can help you craft a strategy and even guide the family conversation when needed.
Legacy planning isn’t just about who gets what. It’s about making sure your family is informed, prepared, and—just as important—still talking to each other when it really counts. At Franklin Retirement Solutions, we are proud to actively assist our clients with not just finances, but also estate and legacy planning. I encourage you to get in touch with me if you wish to discuss further.