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What is the difference between “traditional” estate planning and Legacy Wealth Planning?

April 26, 2017difference estate planning legacy planning traditional wealth

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What is the difference between “traditional” estate planning and Legacy Wealth Planning?

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A. Traditional estate planning is focused on financial assets and is concerned with avoiding probate and estate taxes. On the other hand, Legacy Wealth Planning is concerned with financial and non-financial assets of a family and creating a family’s personal legacy plan. Legacy Wealth Planning addresses how to capture and transfer family traditions and values, as well as protecting financial wealth for current and future generations.