The Legacy Analysis System

The Legacy Analysis System

Wealth has many fiscal and psychological components. When one considers eventual impact, management and dissemination of wealth, there are three logical recipients - Heirs, Charity and Taxes, but in what order, how much and when? Why do affluent families implement different business principals for Wealth Transfer than they do for Wealth Creation? Assets not needed for lifestyle offer planning opportunities to secure desired inheritance and to enhance Family Legacy. Appreciating assets intended for heirs, when left in the taxable estate, compound estate tax liability and challenges the family legacy. Planning, inheritance and philanthropic assets left in a taxable estate exponentially reduce charitable and societal impact The Legacy Analysis System™ (LAS) was created initially to assist wealthy families Maximize their Lifetime Balance sheets, identify future liabilities such as taxes (both IRD and Estate) establish their Philanthropic game plans and ultimately convert the liabilities to Charitable entities such as donor advised funds and family foundations. The results provide for acceleration of charitable bequests during lifetime and community impact. What became of LAS, is a unique interrelationship of inheritance, societal impact, opportunity lost to taxes and government spending, acceleration of charitable giving during lifetime, recognition of charitable works, the corresponding income tax deductions and the development of lifetime of philanthropic impact on their communities. The results of this holistic analysis have been very positive in helping clients surpass the ceiling of complexity as they gather a deeper and more simplistic understanding of their family enterprise, view efficient transfer of wealth through a different lens and convert death bequests to current community benefit. This is truly an exercise in behavioral finance and one in which brings all of the family's trusted advisors to the table to further perpetuate the family legacy.