The 2 Types of Legacy You Leave Behind (and how to preserve them)

Most people, when considering the legacy they leave behind for their children and grandchildren, hire a lawyer and appoint an executor of their will but stop there. This person's will includes a variety of assets and treasured items for specific loved ones but it is unfortunately not the full legacy they will pass on after them. In reality, there's an overlooked legacy that most people unintentionally add to daily but completely disregard when making these plans. Legacy Lock wants to help you preserve this legacy. Here are the two types of legacy you leave behind and how to preserve them.

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1. Physical Legacy - The tangible wealth you leave behind for specific family members.
2. Non-Physical Legacy - The intangible legacy you leave behind, such as your reputation and how you play a role in your community and the world at large.

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Leaving Behind Your Physical Legacy

Think of the tangible things you are were given in an inheritance from former family members and the things you'd like to leave behind yourself. This may be your home, a couple investment properties, or stock, your life savings, and an array of family heirlooms from jewelry to vintage cars. Depending on the size of your close family this may all go to one person or be divided up among many people.

• Divide your inheritance fairly - Consider this may cause stress and relational discord among family members after you are gone.
• Have these conversations now - Slowly have one on one conversations with family members to prepare them for your intentions and what you would specifically like to leave them so there are no surprises as they are grieving and handling legal paperwork at the same time.
• Update regularly - As you talk to family you may learn they have preferences for different items than you realized. Maybe one daughter would prefer your jewelry whereas the other desires your record collection. Your inheritance itself may change over time depending on how long you live and changes that occur to any of your assets.
• Appoint a trust worthy executor of your will - Your child closest in geographical location may not be the best suited for managing legal documents and complex family issues during a time of grief. If you aren't sure who to appoint, have an open conversation with the group you are considering to decide.

By thinking through these details now, you are able to better care for your family after you are gone. Not only will they easily be able to receive the inheritance you have so thoughtfully saved and set aside for them but it will reduce the amount of stress and hoops they have to jump through to get it during a time of grieving.

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Leaving Behind Your Non-Physical Legacy

The non-physical legacy is something we build and shape much more often than our physical legacy. It is something we begin to pass on much sooner than our physical legacy and before we leave this world. Most importantly, a non-physical legacy is the part loved ones usually talk about the most and remember the most when thinking of you. Non-Physical Legacy is your reputation and the way you love and support your family, friends, and community. Non-Physical Legacy is the way you view the world and the things that occurred in your lifetime. It is how you react to hard times and celebrate the good times. Your non-physical legacy is ultimately how you will be remembered and you can begin working on preserving that in the way you'd like today.

• Catalog your memories - Years from now your family will want to ask you questions about your childhood home, your parents and grandparents, their immigration story, why you chose the career you did and many more things. By beginning to record your stories you can preserve these memories for your future family. PRO TIP: Record your various life stories on Legacy Lock through a selection of our prompts today.
• Leave behind your life lessons - Life gets hard but it's in the hardest seasons that we forge our character and have the opportunity to grow into the person we become. Some wisdom can be passed on for family to glean without having to go through it themselves and it's a beautiful gift to be able to impart your wisdom to your family. PRO TIP: Record your life lessons under My Wisdom on Legacy Lock today.
• Get your family to join you - Most memories are made more colorful and full when you can get multiple perspectives. What your brother remembers about growing up may be slightly (or very) different than you. Your family members' memories may surprise you or even help you remember some of your own. No matter what, sharing your family stories will bring you closer together no matter where you live or how old you all are. PRO TIP: Invite your family on Legacy Lock today and begin swapping stories and commenting on each other's videos.

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Get Started Preserving Your Legacy Today

Legacy Lock is a free app for families to record and share their stories and preserve their legacy for generations to come. It's easy to get started, simply create an account, pick from a selection of prompts, and record your story one small memory at a time. Invite your family to do the same and build a beautiful quilt of stories you can all cherish for years to come. Download Legacy Lock now.