27 May Build a Legacy + ESTATE Plan to Last Generations
The Build A Legacy series was created to share vital information and forward-thinking tips about your Estate Plan, Real Estate, and the power of leaving a legacy. In this session, I have brought some amazing women together that will literally change the lives of our future generations.
My guests included Stacey Turnage (a licensed Realtor in Oklahoma), Portia M. Wood, Esq. (a Generational Wealth Planning Attorney), Delanie Barbee (Founder and Managing Attorney at Barbee Law Boutique), and Carmen Rosas, Esq. (Estate Planning Attorney, and Founder of Empower Yourself).
These phenomenal women shared their history, and personal thoughts on creating an estate plan and leaving a legacy. While each brought specific knowledge to the table, they agreed that working with an estate planner that understands your personal circumstances is vital.
The Purpose of Leaving a Legacy
When asked to explain their views on leaving a legacy, these ladies did not hold back. Here’s a recap of what they said:
Stacey – “Legacy is to have something that will continue when she’s gone. Providing a great foundation for her children and grandchildren.”
Portia – “The next generation gets to continue to build. This idea, in the black community especially, that we are constantly starting over from scratch instead of building upon what our grandparents started.”
Delania – “Legacy helps our next generation not to have to start from scratch. But also helps charitable organizations that we love.”
Carmen – “Legacy is building a foundation, and stop playing the catch up game.”
The conversation was powerful as each lady shared their personal stories and what led them to their beliefs on legacy. We learned some “her-story” today!
What is Generational Wealth?
As the panel discussion continued, we shared our thoughts on generational wealth. One general consensus that came from the conversation was the importance of education for ourselves and our children.
Delania – “Some people think you’re leaving millions of dollars behind and that’s the only thing that matters. It’s really giving someone a little leg up. That little bit gives someone an edge. Without an estate plan what you do have can potential get lost.”
Stacey – “Generational wealth also includes leaving the right mindset…mindset is the driver. If the mindset is just about survival, those thoughts and ideas are passed down as well. It’s about changing the mindset of the generations to come.”
Portia – “Wealth is not just the economics, it’s also the knowledge, the why, the wisdom”
If you missed the live Build A Legacy + ESTATE Plan to Last Generations session, you can view the replay on our YouTube channel here.
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