LEAVE A LEGACY™ So Nobody is left Out

TORONTO - May 9, 2014 - PRLog -- Last year a 97 year old New York man left his $40 million fortune to….No One.  In what is being called the largest unclaimed estate in New York History (http://business.financialpost.com/2013/05/01/he-left-us40-million-to-no-one/), people across North America, and his friends in particular, were left scratching their heads around how, and why, a shrewd and outgoing business man would leave no will behind, even though there had been much discussion in the months and weeks ahead.   The truth is that yes, even the smartest and most knowledgeable people can procrastinate, become uncertain, or make poor decisions where their estates and their legacy’s are concerned.

May is LEAVE A LEGACY™ (http://www.leavealegacy.ca/) month and this is the perfect time to make those important, and life changing, decisions while you are of sound mind and can articulate your wishes.  It’s been Jane Blaufus’ mission to get people talking to their loved ones, “They say there’s no time like the present to start having those courageous conversations with your friends and family. If not now, then when?” She asks, “With an ageing population we need to help raise awareness of the importance of thoughtful, well-planned, tax-preferred gifts and their impact on the quality of life for everyone in our communities, from all walks of life, as well as all the other decisions that go into planning for the distribution of our estates.”

There is a growing list of tools and resources to help people ease into the process of planning for their estates across North America, especially through charitable organizations.  One of Jane’s favorites is called Leave a Legacy, designed to encourage people to consider leaving a legacy in a manner they might not have thought of before today.  Visit their website at www.leavealegacy.ca for more information.

Here are Jane’s Top 7 Tips to consider when planning to leave your legacy:

1. Prepare a will - and ensure you have confirmed with your executor that they want the job
2. Leave a gift – your legacy will carry on through the programs and services of your favorite charity or organization
3. Be specific about the gift you want to leave – note who gets what and why
4. Consider assets – leaving a gift from your estate can offset taxes your estate would pay anyway
5. Leave your Existing life insurance as a legacy – just change the beneficiary
6. Talk to your loved ones - this is the most important tip as they need to understand your wishes
7. Keep the conversation going – while you’re at it makes sure your family knows your final wishes/ preferences and document them so everything is in one place and clearly noted (or notarized)

To learn more about how you might consider incorporating this into your estate planning or to find out more about activities taking place in your community this month, contact Jane:  www.janeblaufus.com  @janeblaufus

To book Jane for an interview or to provide commentary on financial, family or pre-planning topics, please contact:

Rania Walker

Phone: 416-258-8953

rania@sparqstreet.com

@raniaspeaks

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Jane Blaufus is an Author, Professional Speaker and Wealth Coach.  Her book, WITH THE [STROKE] OF A PEN®, Claim your life shares her personal story, struggles and lessons learned following the unexpected death of her first husband. She has been featured BNN’s Money Talk, CTV National News Channel, CBC’s Lang and O’Leary Exchange, CHCH Morning Live, CFRB NewsTalk 1010, Zoomer Radio and CTV News at Noon. She is a Huff Post Contributor and GlobalNews.ca’s Financial/Insurance Community Blogger Expert.   www.janeblaufus.com @janeblaufus