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

June 22, 2018

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.

In this day and age it is very rewarding and comforting to make a major decision for the long-term security of your family. Over 14 years ago we decided upon the Kinghorn Heritage Family to create our family trust. Through the years it became very evident that this decision was a major and necessary step for a secure future in an ever-changing legal climate. The Kinghorn Family has been a close friend that has always been there to serve our family.

Gary and Velma T. Client Review September 8, 2020

We appreciate the programs presented that keep us informed and updated in today’s internet and financial world. It is a comfort to know that you are only a phone call away if questions arise.

Robert and JoAnn H. Client Review September 8, 2020

We enjoyed meeting all the behind-the-scenes people on your team and want to thank you for the peace of mind you’ve given us and our children.

M.D. Client Reveiw September 8, 2020

What an amazing law firm, where the people I refer to them are handled as good friends, family, and confidantes.

Eileen E. Client Review September 8, 2020

Thank you Allison and Kinghorn Law family for everything you have done to make our end-of-life decisions a reality and stress free. When we think of Kinghorn: trust, peace of mind, professional. Outstanding Law Firm!

Ken and Cheryl V. Client Review September 8, 2020

Very satisfied with your company and staff.

Robert and Britt O. Client Review September 8, 2020

You’ll make many important purchases in your life, with life insurance somewhere near the top of the list. When it comes to your finances and protecting your loved ones, this is just one of the many things you should consider buying. Of course, there’s a big difference between saying you’re going to buy life insurance and actually doing so. Many people shy away because they don’t know what they want, what they need, or how to purchase a policy that suits all their requirements. By answering the following questions, you’ll begin to better understand your situation and the type of life insurance that’s best for you and your family.

What type of life insurance policy do you want to purchase? Generally speaking, you’ll find yourself deciding between whole life and term life. With whole life, there’s a guaranteed death benefit. With term life, you purchase coverage for a predetermined period of time, such as 10 or 20 years.

How much of a death benefit do you want? This is the amount of money that goes to your beneficiary when you pass on. The higher the death benefit, the more you’ll pay every month for your policy.

Which company can offer you the best deal? There’s no way of knowing until you begin the search process, so don’t hesitate. Search online, make some phone calls, and talk to the company that provides your home and auto insurance.

While these are among the most important questions to answer as you consider buying life insurance, others are likely to come to mind. Answer every question, regardless of what it may be, to ensure yourself of making a confident decision. If you have any questions about life insurance, how to buy, or where it fits into your estate plan, contact us for professional guidance. We’ll make sure you understand the benefits of buying a life insurance policy.

Chandler V. Client Review September 8, 2020

Estate Planning attorneys are sometimes criticized for offering needlessly complex, 'canned' solutions. This never has been the case with Kevin. The documents he created were comprehensive when appropriate and surprisingly simple when suitable. In every case, they were individually crafted to meet our unique needs.

Rich D. Client Review September 8, 2020

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