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Legacy Planning is one of the best ways to support the people and causes that are most important to you. By planning ahead, you can have full use of your assets and income during your lifetime, and then apply the remaining assets as a final gift to fulfill your major goals after you pass away.


Fulfill Your Final Wishes and Reduce Taxes

A well-crafted Legacy Plan allows you to pass assets to others upon your death in the most efficient way possible. It ensures that your assets will be transferred according to your wishes, taking into consideration the nature of your estate, estate taxes, and income taxes, as well as the assets and the circumstances of your heirs.

The benefits of pre-planning your final gifts include:

  • Future support of selected heirs and/or causes, while retaining the use of your assets during your lifetime
  • Specifying how your assets will be used following your death
  • Enabling potentially larger gifts through favorable tax treatment


The Legacy Planning Process GEBA_Elderly-Woman_7.25.13

  1. Legacy Planning begins with a review of what you want to accomplish, and the people and/or causes you want to support with your final gifts. This should be documented in your will or estate plan, established with your attorney and/ or tax advisor.*

  2. GEBA will then review your savings and investment portfolio, insurance, and income and expenses, with an eye toward how best to achieve your goals.

  3. Next, we will help you develop a financial strategy for achieving these goals. This strategy becomes the foundation of your Legacy Plan.

  4. Your GEBA Consultant will prepare recommendations for the most effective and efficient ways to fulfill your goals. The resulting Legacy Plan will include:
    • Portfolio recommendations consistent with your goals and tolerance for risk. This will include asset allocation and distribution considerations, based on the length of time you want your investment to exist.

    • Assistance in structuring your assets to make use of trusts and tax-favored positions that will reduce your potential tax burden.

    • Recommendations regarding specific designations of assets to beneficiaries to minimize estate, capital gains and income taxes. For example, by using significantly appreciated securities (instead of cash) to fulfill your wish to support a charitable organization, you can avoid capital gains tax and increase the size of your donation.

We recommend reviewing your documents every 3-5 years to keep your plan current. In particular, the death of one of your beneficiaries or changes to your Will or Estate Plan should prompt a review of your Legacy Plan to ensure consistency.


Start Your Legacy Plan with a Free Consultation!

GEBA offers a FREE Legacy Planning consultation for GEBA members. Our licensed Insurance and Financial Consultants will be happy to meet with you, discuss your goals, and recommend steps you should consider to reach those goals.

One of the benefits of being a GEBA member is your access to our knowledgeable Insurance and Financial Consultants who understand the process and tools of Legacy Planning. They can help educate you on certain aspects of estate planning and trusts, point out any questions or changes you should take back to your estate attorney and/or tax advisor, and then develop and implement your Legacy Plan.


* Legacy Planning involves a combination of legal, tax, and financial expertise. While GEBA’s licensed Insurance and Financial Consultants are knowledgeable regarding the techniques of Legacy Planning, they do not write wills or provide specific tax or legal advice. Please consult your attorney or estate planning advisor for these services.