• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Sinclair Prosser Gasior

Annapolis Estate Planning Attorneys

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Call Now: (410) 573-4818

Attend a Free Workshop Trustee School

  • Home
  • About Our Firm
    • About Our Firm
    • Founding Attorneys
    • Meet Our Team
  • Services
    • Annapolis, MD Asset Protection and Business Planning
    • Estate and Gift Tax Figures
    • Annapolis, MD Elder Law & Medicaid Services
    • Annapolis, MD Trust Administration & Probate
    • Family-Owned Businesses & Farms
    • Annapolis, MD Incapacity Planning
    • Annapolis, MD LGBTQ Estate Planning
    • Annapolis, MD Pet Planning
    • SECURE Act
    • Annapolis, MD Special Needs Planning
    • Estate Planning for Young Families
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Definitions
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Power of Attorney
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Probate Resources
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Trust Administration
      • Estate Planning for Niches
    • Top 10 Estate Planning Techniques
    • Newsletters
  • COMMUNITIES WE SERVE
    • Anne Arundel County
      • Annapolis
      • Crownsville
      • Davidsonville
      • Highland Beach
      • Millersville
    • Baltimore County
    • Calvert County
      • Dunkirk
      • Huntingtown
      • Owings
    • Charles County
      • Charlotte Hall
      • Waldorf
    • Howard County
    • Prince George County
      • Bowie
      • Fort Washington
      • Glenn Dale
    • Queen Anne’s County
      • Grasonville
      • Queenstown
      • Stevensville
    • St. Mary’s County
      • Charlotte Hall
      • Leonardtown
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact Us
  • Make A Payment
  • Client Portal
Home / Estate Planning Articles / Leaving a Lasting Legacy

Leaving a Lasting Legacy

April 29, 2011 by Sinclair Prosser Gasior

Compliments of Our Law Firm,
By: The American Academy of Estate Planning Attorneys

What is “wealth?” Upon hearing this question, your thoughts might run first to material possessions: money, real estate, and other assets. However, when you really think about it, your true wealth is much more than just your accumulated assets. It encompasses the financial and the non-financial, and many people would argue that the most important elements of true wealth are all those things that don’t show up on a balance sheet, things like your life experiences, your faith, your values, your work ethic, and your family history. This distinction between simple financial wealth and true wealth takes on extra significance when you begin to plan your estate. Traditional estate planning focuses on distributing your financial wealth to your chosen beneficiaries in the most time- and cost-effective manner. Legacy Planning, on the other hand, goes several steps further. Not only does it accomplish the financial objectives of traditional estate planning, it also helps to preserve your financial wealth as it passes from generation to generation, and it helps to ensure that your non-financial wealth is handed down to your children and grandchildren. The result is that you have an opportunity to build a true legacy and bond within your family.

One method for leaving behind a lasting legacy is the Family Wealth Trust, a planning tool that is flexible in meeting the specific needs of you and your loved ones. Within a Family Wealth Trust, there are two levels of protection: the Family Access Trust and the Family Sentry Trust. Both allow you to do more than simply pass on your accumulated possessions at your death.

For parents whose children are mature and have proven themselves to be good money managers, the Family Access Trust provides a combination of financial protection and flexibility. Your children have broad access to their inheritances, but the Trust keeps those assets separate from their personal finances. This allows your children to have the maximum control over their complete financial picture, while protecting their inheritances from unexpected events, like a divorce.

For children who are inexperienced with money, or who are facing a substance abuse problem or a similar issue, the Family Sentry Trust goes a step further. Not only does it protect your children from divorce or lawsuits, it also protects them from their own lack of experience or ill-advised decisions.

The Family Wealth Trust also allows you to hand down the non-financial wealth that is so often ignored by the traditional estate planning process, but is often the most important part of your legacy. Not only can you make sure your valued personal possessions and family heirlooms make it into the hands of the appropriate loved ones, you can provide context and meaning to the inheritances you leave behind by passing along your memories, wisdom, and values.

No matter what your family’s needs, a Family Wealth Trust can help you protect your true wealth and ensure that it is preserved from generation to generation. An experienced estate planning attorney who focuses on Legacy Planning can help you secure your family’s future.

Primary Sidebar

Download our free estate planning worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Testimonials

5 Stars
Client Review
September 3, 2020
    

We initiated estate planning following a presentation by Sinclair Prosser Attorney Jon Gasior. We were so impressed, we contracted with them to complete our estate planning. Subsequently, we assembled information on our assets and Sinclair Prosser Gasior did the rest. Correspondence was communicated to our financial institutions and the estate was established. We were very pleased with the courteous manner of the Sinclair Prosser Gasior staff. However, it was their professionalism that made us satisfied we chose this firm to handle our estate. We have nothing but praise for Sinclair Prosser Gasior .

default image
– Walter K.

ANNAPOLIS

900 Bestgate Road
Suite 103, Annapolis, Maryland 21401
Phone: (410) 573-4818
Fax: (410) 573-2802

BOWIE

4201 Mitchellville Road
Suite 403, Bowie, MD 20716
Phone: (301) 970-8080
Fax: (410) 573-2802

MILLERSVILLE

1520 Jabez Run Rd
Suite 300, Millersville, Maryland 21108
Phone: (410) 573-4818
Fax: (410) 573-2802

WALDORF

Hamilton Centre II
3261 Old Washington Road, Suite 2020 Waldorf, MD 20602
Phone: 800-366-4615

Map

map for office

Footer

footer logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Maryland Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

© 2023 American Academy of Estate Planning Attorneys| Privacy Policy | Contact Us | Disclaimer | Site Map