If I Have an Estate Plan, Why Do I Need Live Legacy?

Live Legacy was started because we heard too many people say:

“We don’t want to put our kids through what we have just gone through…”

How will working with Live Legacy benefit you?

Live Legacy will not replace good legal, tax or financial services, but will enhance the value you get from these professional advisors.  Our combination of education and personal consultation will help you:

  • Update/review/create your plan
  • Understand what professional advice you need and who can best provide it for you
  • Identify specific questions to ask of your advisors
  • Fill in any gaps between the legal, tax and investment advice you get
  • Feel comfortable that you have received quality advice from everyone assisting you with your plan.

We can also assist by communicating directly with your professional advisors and/or family members if this is useful and desirable.

There are several ways we can help:

 

Will and Power of Attorney Review and Priority Action Plan

Already have a Will and Power of Attorney documents?  Do you wonder if they need changing?  Do they provide enough direction?  Putting your mind to rest about your planning could be as simple as reviewing your existing documents and prioritizing any actions needed to make your plan more effective.

 

Incapacity and Power of Attorney Planning

 

None of us is guaranteed that we will remain competent to manage our own affairs throughout our lives.  An incapacity plan, which includes Power of Attorney documents and supplemental communications, can reduce the possibility of misunderstandings and abuse, and reduce the strain on family members during a difficult time.

 

 

Beneficiary Audit

Life happens, and our paperwork rarely keeps up with it.  Between our wills, bank and investment accounts, insurance, ownership of property and verbal communications, there is plenty of opportunity for incomplete and misleading instructions.

For example, joint ownership of an account or property with a child may make administration easier, but can lead to confusion about whether or not the asset is intended to be a gift or remain part of your estate.  We can help you catch inconsistencies and ensure that your intentions are clear.

 

 

Estate Plan Overview

Starting with educational webinars, we can help you, those acting on your behalf, and your beneficiaries understand roles, accountabilities and your overall plan and instructions.  We can then assess any updates needed, assist you in implementing your action plan and help to ensure things stay on track.  This does not require you to share details of your personal situation if you prefer to keep them private, but helps you clarify and share general strategies and expectations if appropriate.

 

Dealing with Challenging Dynamics

Some situations are more complex than others and require more extensive or creative plans.  Multiple marriages, blended families, common-law relationships, business ownership and charitable intentions are just a few examples of dynamics that can complicate estate planning.  Let us help you explore options to resolve complex issues and simplify the transfer of assets in the future.

 

‘Beyond the Basics’ Estate Planning

There are many levels of estate planning.  For some families a simple, clean distribution of assets is sufficient.  But there is often an opportunity to go beyond the basics and take advantage of tax planning and financial instruments to expand a legacy significantly.

How Will Working With Live Legacy Benefit You?

Live Legacy will not replace good legal, tax or financial services, but will enhance the value you get from these professional advisors. We can also assist by communicating directly with your professional advisors and/or family members if this is useful and desirable. Our combination of education and personal consultation will help you with:

About

Penny Towndrow MBA, CLU, CHS, CEA

Penny considers herself to be an “Estate Planning Activist’. She believes that traditional planning processes and documents do not fully address the complexities created by today’s issues and administrative requirements. Penny inspires clients to show their love by going beyond the minimum legal requirements and designing creative and comprehensive Incapacity and Estate Plans.

With over 25 years’ experience as a retirement and estate planner, Penny is recognized by her peers as having the ability to weave together legal, tax and financial/investment tools into creative and comprehensive plans.

In addition to being a member of the Niagara Estate Planning Council, she served several years on the Board of Directors of the Simcoe County Estate Planning Council.

Throughout her life, Penny has been energized by the enormous impact that charitable and volunteer organizations play in our communities. As part of ‘living her legacy’, Penny has been a volunteer, employee, board member and donor with organizations such as Big Sisters, Rotary, Brock University and the Canadian Mental Health Association. She is particularly excited by ‘Back to School’, a Rotary program that allows young people in the Philippines to upgrade their educations so that they can get well-paying jobs and help their families escape the cycle of poverty.

Penny’s own planned gifts, including Brock University’s first life insurance gift, prove her belief that a little time invested in creative planning can ensure that a legacy lives on.

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Live Legacy was started because we heard too many people say:
"We don’t want to put our kids through what we have just gone through..."

Incapacity and Estate Planning go beyond having up-to-date Wills and Power of Attorney documents. Finding ways to make difficult transitions easier shows our loved ones how much we care. After all, legacies are all about making the future better for others.

Using a combination of educational sessions and individualized consultation, we coordinate the services of each client’s own professional advisors so that the plan is easily communicated, implemented and revised as needed. If desired, we can also assist with communicating the plan to family members.

Contact Us!