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What Does Legacy Mean to You?

One definition of legacy is: “A gift of property, especially personal property, as money, by will; a bequest.”

While a will and an estate plan are important to your overall financial picture, I believe a second definition of legacy is more insightful: “Anything handed down from the past, as from an ancestor or predecessor.”

What can be more powerful to hand down to your family than shared memories and experiences?   That question reminds me of my beloved father, Bill, who passed away several years ago.

Dad was a member of the “greatest generation,” a World War II Navy veteran who, like many, returned from the war, went to work and raised a family. My siblings and I grew up in a decidedly middle-class family in South Milwaukee. Dad worked as a mechanical engineer and Mom stayed home to raise the kids. Sounds a bit like “Leave it to Beaver”, right?

 My Dad loved family gatherings, especially surrounded by his children and grandchildren. He wasn’t afraid to show his emotions. During our annual Father’s Day celebration, my siblings and I knew it was not complete until Dad read all the “sappy” cards we had purposely selected to tug at his heartstrings. It inevitably led to him shedding a few tears followed by good natured family teasing.

 Dad loved to travel, but after my Mom passed much of his travel was on casino bus trips with senior groups. In 2010, Dad decided he could combine his love of family gatherings and travel by treating the whole family to a Caribbean cruise. Nothing like bribery to get your family to hang with you! He gathered us and discussed his plans, saying he would pay for everything. He called it the “Spending the Inheritance Tour.” I remember thinking “What’s not to like about this?” A few days in Puerto Rico followed by a seven day cruise? All paid for? Count me in!  

Fast forward nine months to January of 2011 and 19 of my family members were enjoying the warm sun, each other’s company and a few cocktails (not necessarily in that order). It was incredible to be on a beach when Milwaukee was enduring a 17-inch blizzard on Groundhog Day. We even saw the Packers win the Superbowl from our hotel in Puerto Rico.

When my Dad passed, his estate was modest but the legacy he left was priceless. The “Spending the Inheritance Tour” is just one part of that legacy, but one I’ll never forget.

What are your dreams? What do you want your legacy to be?  Maybe, like my Dad, your legacy will be creating family memories. Maybe you’ll fund your grandchildren’s education or support your favorite charity.  No matter your situation, your team at Savaglia Financial Advisors can work with you to create a plan you are comfortable with to preserve your legacy and pass it on to the ones you love.

Written by:

Larry Dreher

Director of Client Services

414-768-1984

414-768-1987

larry@savaglia.com

I had a successful, 31-year career in IT with a financial services company. When I was thinking about a second career, I wanted something that nurtured my passion for solving problems and helping people. When I combined that with my...

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