Top 3 Reasons Why Legacy Planning Brings You Closer to a Meaningful Life
Most people tend to deal with the daunting thought of end-of-life by brushing it off, choosing not to think about it, nor how it may happen. To counteract the thought of life’s end, people opt to live by common idioms such as “go with the flow” or “take one step at a time”.
However, having a long-term plan makes you have a secure future and be able to have the lifestyle that you aspire without any worries throughout your life. Legacy planning refers to more than just the planning of your financial wealth, it includes planning for your personal effects (eg. heirlooms, family history, and life lessons) and important decisions (eg. child’s guardianship, advance medical directive). It is a part of your life’s plan - it enhances and improves the way you live in the long-term, giving you a more meaningful life.
Here are three ways that planning for the end-of-life helps you throughout the journey.
1. Helps to clarify your priorities
What is most important to you right now, and why is that so?
You may have asked this a lot at your workplace when prioritising your tasks. But, how often have you taken the time to ask those questions for your own life?
Legacy planning requires you to ask the same kind of question to yourself. Planning for the end-of-life is not just about sorting out your funeral and burial preferences. It is also about how you plan out your journey towards reaching the last day of life.
The things you do in your daily life will drown out the bigger things that you hope one day you will get to do. The problem that everyone has is that no one has an infinite amount of time. Are you living the way you want to live right now? If you need some inspiration, this Guardian article listing some of the most common regrets in life may be an eye-opener for you.
This is not saying you should drop every responsibility and embrace recklessness. It is about setting aside time, resources and effort for what is important to you. It’s about being self-aware, doing what seems right in your eyes and being true to yourself.
2. Be remembered for who you are
Whether you like it or not, people watch you all the time. It may be with judgmental eyes, or idolizing gaze. When you are actively building your legacy, you become aware of what you want to accomplish or contribute to people around you.
Do you want to be remembered for leaving a generous inheritance to your loved ones? Or, will you be an inspiring role model to your offspring to the point that they’ll follow your footsteps?
Having your legacy planned out will help you to be remembered by others the way you want, and help loved ones appreciate the hardships that you have endured in your life.
With a legacy plan in mind, you would be more self-aware - you keep the big picture clear in your head, making decisions and taking actions with the end in mind.
3. Motivates you to do your very best
Your life’s work, finance, estates, cars, and other valuable assets you have are important. In fact, your legacy does not only refer to an item of physical value, it can also be your wisdom, teachings, stories, and even your life secrets. What you are leaving behind can be a positive impact on future generations long after you are gone.
Planning ahead will make it easier for your family to put things into place and know they are acting according to your wishes. You will feel reassured that your assets are passed down to the right person who will care, develop or use them wisely.
With this in mind, you will go through life knowing that your efforts are not benefiting just yourself, but the people around you, and your future generations. You will develop a drive and perseverance that may otherwise be missing in your life.
“We know there is value in our financial assets, but more importantly, there is even greater value in our family treasures like family history, morals, beliefs and heirlooms. These treasured assets are the ones that are most often overlooked in traditional estate planning.”
Memori seeks to educate and raise awareness of the importance and benefits of legacy planning. Our Legacy Matters workshops are designed to educate people on preparing for their legacy at different stages of life. We equip you with the know-how and resources required to navigate through the maze of life to reach your end goals — be that starting a family, achieving childhood dreams, retirement, old age, or even end of life.
Legacy Matters workshops are held at least once a month, and so keep an eye out for the next one by following us on Instagram and Facebook.
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If any of our stories and information have been inaccurate or incomplete in our coverage, please get in touch with us immediately at ask@memori.io. (Full disclaimer)
Written by:
Izaaz Syazwi — Part of Memori’s Digital Marketing team. Experienced in marketing. copywriting and content creation. Izaaz’s favourite philosopher is Socrates.
Li En Ru — Project Lead at Memori. Content writer with 3 years of experience in copywriting and research. Formerly associate editor at Borneo Bulletin in Brunei. En Ru’s favourite food is this sticky stuff called Ambuyat.