Stewardship is often confused as just a term used for “Giving.” Stewardship is actually the “management” of money and our resources (time, talent and treasure).
Stewardship of transferring assets to heirs, beneficiaries and charity is what our advisors term “Legacy” planning. Legacy planning clearly defines the difference between wealth transfer and estate planning.
- Considers impact on recipients as the highest priority
- Implements plans that can begin now
- Involves family input now, then professional advisors
- Makes stewardship decisions
- Transfers ownership
- Love your children equally and treat them uniquely
- Transfer wisdom before wealth
- Do your givin’ while you’re livin’ so you’re knowin’ where it’s goin’
- Considers impact on donor and estate
- Implements plans that begin at death
- Involves professional advisers now, then family later
- Makes tax-efficient decisions
- Retains control as long as possible, even beyond the grave