Building a Lasting Financial Legacy
At Horizon Financial Services, we believe financial planning is about more than building wealth—it’s about building a legacy. For some individuals and families, legacy planning is an opportunity to secure the future of their family and community while reflecting deeply held values and traditions. Legacy planning may involve more than distributing your assets after your passing. It can also reflect how you live with intention today so that the values, memories, and impact you leave behind carry forward for generations.
A thoughtful, customized plan tailored to your needs and values may provide clarity and help guide decisions that align with your legacy goals. Whether you’re just beginning the conversation or refining an existing plan, this may be a perfect time to think more deeply about estate and legacy planning—and how it fits into your broader financial picture.
What Is Legacy Planning?
Legacy planning is a comprehensive approach to managing your wealth, assets, and personal values so they can be passed on in a meaningful way. It goes beyond drafting a will. It's about defining how you want to be remembered, what you want to protect, and the impact you wish to make.
For some, legacy planning might involve setting up a scholarship in a family member’s name. For others, it could mean providing financial security for children and grandchildren. Regardless of your vision, legacy planning advisors can assist you in creating a plan that aligns with your unique priorities and aspirations.
Here are 5 Components of a Strong Legacy Plan
A Will
This may be the cornerstone of your plan because it allows you to name an executor to manage your estate and carry out your wishes. You can also identify who will inherit your assets, which may provide clarity and prevent disputes after your passing. A will can also help you minimize estate taxes through strategic gifting or charitable donations and provide you with peace of mind knowing you have control over how your estate will be handled.
Healthcare Documents
If you become unable to make your own healthcare decisions, these documents give someone you trust the authority to make them on your behalf. Healthcare directives—like a living will or healthcare power of attorney—allow you to make your healthcare wishes known in advance. This is a crucial but often overlooked part of legacy financial planning because it ensures your wishes are honored and your family is spared from making difficult decisions during emotional times.
Financial Decision-Making Documents
If you’re ever unable to make your own financial decisions, documents like a Durable Power of Attorney allow you to authorize someone else to manage your affairs for you. Tasks may include paying bills, overseeing financial accounts, or managing certain business responsibilities, depending on the scope of the authorization.
When you think about legacy building, remember, your ability to protect your financial interests during uncertain times can be just as important as what you pass on later. Planning can help safeguard your assets during your lifetime and prepare them for eventual transfer.Charitable Giving Strategies
Charitable giving may allow you to support causes you care about and could offer potential tax advantages either while living or at your passing. It is a powerful way to extend your legacy beyond your immediate family. Through donor-advised funds, charitable trusts, or simple bequests, you can support the causes that matter most to you like education, healthcare, the arts, or your faith community.
When done strategically, charitable giving may also reduce your tax burden during your lifetime and lower your estate taxes later. A financial planner who understands legacy planning can be especially valuable in helping you evaluate charitable giving vehicles that align with your goals. You should also consult your tax advisor to determine what strategies are appropriate for your situation.
Estate Tax Minimization Strategies
Most individuals seek to reduce the potential tax burden on their estate. There are several strategies that may help reduce your estate’s tax liability, depending on your individual circumstances. Charitable trusts, gifting assets, marital deductions, and the proper titling of assets are just a few simple strategies you can implement to help reduce your estate taxes.
These strategies aren’t just about tax avoidance—they’re about preserving your legacy. With guidance from experienced legacy planning advisors, you can explore strategies designed to reflect your values and address wealth preservation goals. As a reminder, you should also consult with your tax advisor.
The Importance of Telling Your Story
People often see legacy planning as a series of documents to complete but, it's really about telling your story - your way - and that’s just as important as the dollar amounts in your accounts.
We can help you explore questions like: Do you want your grandchildren to attend college debt-free? Do you want your family to enjoy vacations together long after you’re gone? Do you want to fund research for a disease that touched your life? Answers to these questions help shape the blueprint for your legacy plan.
How Horizon Financial Services Supports Your Legacy Goals
At Horizon Financial Services, we believe legacy plans are personal, purposeful, and proactive. We take the time to understand your financial situation—your goals, assets, family dynamics, and values—and work with you to develop a strategy designed to align with your objectives.
As legacy financial planners, we can help you:
Navigate complex family or business situations
Incorporate charitable goals into your estate
Plan for generational wealth transfers
Balance today’s needs with tomorrow’s vision
Integrate legacy planning into your broader financial strategy
Our services are designed to support informed decision-making based on your goals and financial situation.
Let’s Start Building Your Legacy
The first step toward a meaningful legacy is a conversation. We’re here to listen, learn about what matters most to you, help you explore a roadmap tailored to your goals and values, and discuss legacy planning strategies that fit within your broader financial plan. No matter where you are in the planning process, Horizon Financial Services is ready to guide you with thoughtful service and professional insight.
If you’d like to learn more, schedule a consultation or call us today to explore planning strategies aligned with your values and long-term goals.
Horizon Financial Services does not provide legal or tax advice. You should consult with your attorney or tax professional regarding your individual situation.
Investment advisory and financial planning services are offered through Horizon Financial Services, LLC, an SEC Registered Investment Advisor. Insurance products and services are provided through New Horizon Financial Services, Inc., an affiliated company. Subadvisory and co-advisory services are provided by Advisory Alpha, LLC, a Registered Investment Advisor.
This content is for informational purposes only and is not intended to provide personalized investment, legal, or tax advice. References to financial credentials or professional certifications do not imply a particular level of skill, expertise, or success. Investing involves risk, including the potential loss of principal. No investment strategy, including diversification or asset allocation, ensures a profit or guarantees against loss in declining markets.
Past performance is not indicative of future results. Investors should consider their individual circumstances and consult with qualified professionals before making any financial decisions. Horizon Financial Services, LLC and New Horizon Financial Services, Inc. are not affiliated with or endorsed by the Social Security Administration or any government agency.
