We Are Better Together

Estate Planning Is a Labor of Love

I had the opportunity to convene the first Creating a Legacy Summit & Conference with Industrial Bank this past weekend. I was mindful in bringing together really smart and impressive subject matter experts in areas such as estate planning, real estate, strategic financial planning, entrepreneurship and insurance to discuss diverse areas of economic empowerment.

This forum had two purposes. The first one was to bring professionals together to shape the network that will form Personal Boards of Directors (as discussed in last month’s article) for our clients. The second purpose was to provide information and education on areas that support wealth creation for the general public so we can all operationalize this information.

I am a good estate planning attorney. However, I consistently say that the best plans are those that have assets to protect and transfer to the next generation as well as leave a legacy that can impact the community. I do not have the knowledge base or the licensure to provide advice for strategic financial planning or investing. I do not have the knowledge base or licensure to provide advice on purchasing or financing real estate. I do not have the knowledge base or licensure to provide tax advice. However, WITH a strategic financial planner, insurance professional, realtor and accountant, we can provide the knowledge base, experience and credentials that serve our clients to shape a strong financial future. The collective efforts of these professionals are the ways in which we can build the economic power of our community one person and family at a time.

The Creating a Legacy Summit & Conference that we held last week was amazing in that many people came together to learn about working and building together. We often hear about ways in which to build wealth. I want to create a movement of collaboration. We can do better together as a community. I am raising my voice as an estate planning professional because I don’t feel as much attention is paid to transferring wealth as is appropriate.

If we are thoughtful in creating estate plans, the next generation does not have to work as hard to create wealth. We are giving the next generation a step up to grow from. If we all had a predecessor who could give us a modest loan or have the resources to pay for college without creating debt we would be able to move to a higher economic level with greater ease. It is too often young people are burdened by having to make decisions based on lack as opposed to abundance. This is so often a dream killer. We want to move our loved ones and community from survival thinking to actualization. There are tools that are required and available to do just that.

I am inspired and motivated to build economic empowerment teams when Cassandra Walker Pye CEO of 3.14 Communications facilitates professionals at the Creating a Legacy Professionals Summit on building teams. I am thoughtful about the possibilities when I hear people at the Creating a Legacy Conference like Deborah Owens, “America’s Wealth Coach,” and George Fraser, author of books such as Race for Success and Mission Unstoppable. Carmen Herrera, Benjamin Copeland and Emerick Peace provided practical steps on building assets through incredible hard work, strategic insurance purchases and determination.

Yet, I am determined to work harder and build because we cannot afford to waste time, as Antwayne Ford reminded us. We cannot create any more time. Let’s use what we have wisely to strategically plan for this life to be better and provide a legacy for our children and our children’s children.