Bill Gates dropped out of college and started a business in his garage that became one of the largest in the world: Microsoft. That business was at the forefront of the information age. And yet Malcolm Gladwell, renowned author of The Tipping Point and Blink, predicts that 50 years from now Gates will not be remembered for his role in computers. Instead, he will be known for his charitable works through the Bill and Melinda Gate’s Foundation, saving the lives of millions of children and helping people across the world live healthier, more productive lives.
The Legacy Planning Building Block
Is your only goal to build a thriving business? Or, like Bill Gates, do you want to leave the world with your imprint on it, making it a better place for future generations?
If you’re like many prosperous business owners, you think about the world beyond yourself and it’s important to leave your legacy. The idea of working for a cause creates a greater purpose and makes your day-to-day work more meaningful. In fact, it drives you to work harder so you can build a stronger business that enables you to give back.
Your company and the value you derive from it can be a vehicle for good in the world, but only if you develop a plan. That means deciding what you want your story to be, the lasting memory you leave on the earth. A legacy can usually be accomplished only if your business is strong. So, it is the final building block. It’s placed on the apex of the pyramid that represents The Ultimate Business Owner’s Plan—the pinnacle of success.
Create Your Legacy
There are several ways that you can leave your legacy:
- Through the work of your business
- By passing assets and values on to your children
- Mentoring others
- Volunteering to do charitable work
- Making bequests to charitable foundations and organizations
Whatever your aspirations, we can help you to create a legacy plan to achieve them.
Our process starts with determining who you want to benefit from the wealth that you’ve accumulated. What causes are important to you? Then, we’ll ensure that your assets are well managed to make the most of them and minimize the tax effects. While it’s a complicated process, we’ve been doing it for over a quarter century so we can guide you through all the decisions you need to make. Thus, we empower you to accomplish your goals.
If you’d like to learn more about legacy planning and how to leave a lasting memory, schedule a complimentary consultation.